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Mumbai , August 6. After the introduction of the new auction process for shares included in the Futures and Options (F&O) contract on Monday, the first day of the trading week, a continuous difference is being seen in the performance of both the major indices. This was also seen on Thursday, when due to softening of crude oil prices and buying in the shares of big companies like Reliance Industries and ICICI Bank, the BSE Sensex rose by 374 points and reached close to 79,000, while the NSE Nifty saw a marginal rise of 11 points.

It is noteworthy that the closing auction session (CAS) in the equity cash segment began on Monday. A new auction-based system has been implemented to determine the closing prices of eligible shares. This aims to make the pricing process more transparent and robust.

Due to this, the difference between Sensex and Nifty is visible.

Hariselvan Radhakrishnan, Founder and CEO of HST Wealth, said, “Four sessions after the NSE introduced the closing auction session system, the divergence between the Sensex and Nifty is no longer simply reflecting the volatility of the market, but rather the differences in market liquidity. The 20-minute closing auction process is yielding different results for both indices as institutional investor orders are more concentrated in Nifty stocks than Sensex. As a result, the Nifty’s closing level is now more sensitive to prices determined by the closing auction session, while its impact on the Sensex has been relatively less.”

Sensex closed at 78,954.76 , up 373.76 points

The 30-share benchmark Sensex of the Bombay Stock Exchange (BSE) remained in the positive zone throughout the trading session and finally closed at 78,954.76, up 373.76 points or 0.48 percent. Interestingly, the index jumped by about 170 points in the last two minutes and closed at the highest level of the day. Among the Sensex-linked companies, shares of 11 were strong while 16 declined.

Nifty closed marginally higher by 11.35 points at 24,636.

Meanwhile, the National Stock Exchange’s (NSE) 50-share benchmark index Nifty traded in a narrow range throughout the day and finally closed at 24,636 with a slight gain of 11.35 points, or 0.05 percent. However, unlike the last three days, the index did not see an unexpected surge in the last five minutes. Among Nifty-linked companies, 15 stocks remained strong, while 34 showed weakness.

Reliance Industries was the biggest gainer, rising 3.43 percent.

Among the Sensex stocks, Reliance Industries was the biggest gainer, rising 3.43 percent. Besides, State Bank of India, Bharat Electronics, ICICI Bank, Eternal and Titan were also among the gainers. On the contrary, Power Grid was the biggest loser, falling 3.99 percent. Tata Consultancy Services, InterGlobe Aviation and Mahindra & Mahindra were also major losers.

FIIs net sold shares worth Rs 943.42 crore

Foreign institutional investors (FIIs) sold shares worth Rs 943.42 crore on Wednesday, according to stock market data. Global crude oil benchmark Brent crude rose marginally by 0.09 percent to $79.52 per barrel.