New Delhi, 23 July (HS). The domestic stock market is now seen recovering from the shock after the presentation of the budget today. The stock market had fallen by more than 1.5 percent during the budget speech of the Finance Minister. But after the budget speech ended, the stock market is seen recovering rapidly. After the trading till 1 pm, the Sensex was trading with a decline of 0.63 percent and Nifty with a decline of 0.62 percent.

Today's trading started with a gain. But in the initial trading itself, investors adopted a cautious stance and started trading at a flat level. Even after Finance Minister Nirmala Sitharaman started her budget speech, the stock market continued to trade at a flat level with a slight decline for a long time. But as soon as the Finance Minister started speaking on the provisions related to the industrial and corporate sector around 12:15 pm, there was a strong selling pressure in the market, due to which both the Sensex and Nifty indices fell by more than 1.5 percent.

The extent of selling pressure during this period can be gauged from the fact that the Sensex fell 1,542.09 points from its upper level and lost 1,277.76 points to reach 79,224.32 points. Similarly, the Nifty slipped 508.35 points from its upper level and lost 435.05 points to reach 24,074.20 points.

However, in the next 15 minutes of trading, buyers again dominated the market and started buying all around, due to which both the stock market indices started recovering from the lower levels. With the support of continuous buying, at 1 pm, the Sensex recovered 768.16 points from the lower level and was trading at 79,992.48 points with a weakness of 509.60 points. Similarly, the Nifty improved 283.60 points from the lower level and reached 24,357.80 points with a decline of 151.45 points.

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Hindustan News / Yogita Pathak / Sanjeev Pash