Business News: On the special live trading session of the Indian stock market on Saturday, both Sensex and Nifty opened in positive territory.
Both the Sensex and Nifty started the special live trading session on Saturday, March 2, on a positive note as BSE and NSE facilitated the trading activities. The Sensex experienced a surge of more than 140 points at the opening bell, while the Nifty, its counterpart on the NSE, witnessed an increase of approximately 50 points.
At 9:15 am, as the market opened, the BSE Sensex gained 142 points, reaching 73,884 points, while the Nifty50 also saw a rise of 53 points in the early trading hours, reaching a level of 22,393.
Both Sensex and Nifty achieved their new all-time high at the commencement of the live trading session today. The BSE index approached the 74,000 mark in the preceding market session, registering a surge of over 1200 points at the close. Concurrently, Nifty experienced an increase of over 300 points on Friday.
The special live trading session of the stock market will be conducted in two phases today. Typically, Indian stock markets are closed on Saturdays, but they have been opened today in compliance with SEBI regulations.
The first phase of the stock market session started at 9:15 am and will continue until 10:30 am. The second phase of the live trading session will commence at 11:30 am and conclude at 12:30 pm, as per the NSE notification regarding the same.
Why NSE, BSE are conducting a special live trading session?
Both NSE and BSE announced last month that they would conduct a special live trading session on the first Saturday of March, i.e., March 2, to ensure a smooth transition from the primary website to the emergency website in case of a disaster. This emergency disaster preparedness is mandated by SEBI.
In its official circular, NSE stated, “Members are requested to note that the Exchange shall be conducting a special live trading session with intra-day switch-over from the Primary site to the Disaster Recovery site on Saturday, March 02, 2024, in Equity and Equity Derivatives segments.”