Why Share Market Open Today:
Despite being a Saturday, Indian stock exchanges are working today. Bombay Stock Exchange and National Stock Exhange are holding 2 special sessions today. This special session has been held due to testing of the disaster management site created by the exchanges to deal with any adverse situation.
In special live trading sessions today on BSE and NSE, intraday operations are being moved from the primary site to the disaster recovery site. These sessions are being held to keep the exchanges prepares to deal with any unforeseen event that may impact operations.
First session closed with gains
Today the first sessions as held from 9.15 am to 10 am. In this session, the BSE Sensex opened with a marginal gain at 73,921 points and closed with a gain of 42 points at 73,959 points. Out of the 30 stocks of the Sensex pack, 18 stocks were in the green and 12 stocks were in the red. After this, the second sessions will be from 11:30 am to 12:30pm. During the special sessions, the maximum price band of all securities on which futures-options products are available will be five percent. Securities already present in the price band of two percent or less will remain available in their respective bands.
These stocks showed a rise
Among the Nifty pack stocks, the highest rise was recorded in Nestle India at 2.19 percent, PowerGrid at 1.31 percent, ONGC at 0.92 percent, Hindalco at 0.70 percent and Hero MotoCorp at 0.45 percent. On the other hand, the highest decline, Mahindra & Mahindra at 0.38 percent, UltraTech Cement at 0.37 percent, Titan at 0.26 percent and Eicher Cement at 0.25 percent.
The market opened in a similar fashion on March 2 as well
Earlier, NSE and BSE had organized similar trading sessions on March 2. These trading sessions are being organized based on discussions with market regulator SEBI and its technical advisory committee. The aim of this initiative is to assess their preparedness to handle any unexpected event.