Stock Market: Indices Closed in Red Post-Budget 2024; Tech Mahindra, NTPC Among the Gainers

The Indian headline indices Sensex and Nifty closed on a negative note on Wednesday (July 24), the day after Budget 2024. The Sensex declined by 280.16 points or 0.35 percent, ending the day at 80,148.88. Similarly, the NSE Nifty fell by 65.55 points or 0.27 percent to close at 24,413.50.

Additionally, the Nifty Bank shed 461.30 points or 0.89 percent, settling at 51,317.00.

Finance Minister Nirmala Sitharaman presented the Union Budget 2024 in the Lok Sabha on Tuesday (July 23), featuring several announcements, changes, and schemes. On budget day, the market opened and closed in the red, and continued its downward trend into the morning of the following day.

Major Gainers and Losers - BSE

Gainers - On the BSE, major gainers included Tech Mahindra, which rose by 3.09 per cent to Rs 1,540.00, NTPC, up by 2.58 per cent to Rs 392.20, and Tata Motors, which increased by 2.56 per cent to Rs 1,026.95.

Sun Pharma also saw a rise of 1.29 per cent, closing at Rs 1,623.00 followed by PowerGrid.

Losers - Among the major losers included Bajaj Finserv, which dropped by 2.03 per cent to Rs 1,585.00, followed by Bajaj Finance with a decline of 1.70 per cent to Rs 6,617.65.

Hindustan Unilever fell by 1.61 per cent to Rs 2,722.00, Kotak Mahindra Bank decreased by 1.43 per cent to Rs 1,744.00, and Tech Mahindra saw a decline of 1.33 per cent, closing at Rs 1,488.15.

From NSE pack, the major gainers were HDFC Life, Tech Mahindra, BPCL, NTPC, and Tata Motors whereas Bajaj Finserv, Tata Consumer, Britannia, Axis Bank and Bajaj Finance were among the laggards.

The Nifty Midcap index gained 587 points to settle at 56,873.

Rupee

The Indian Rupee closed at a record low of 83.72 against the US dollar on Wednesday.