Markets Start July 24 On An Uneventful Note; Marquee Indices Open Flat
On July 24, Monday, indices opened relatively flat, Sensex began the day's trade at 80,343.38 & Nifty at 24,444.95.
The Indian markets opened flat on Wednesday, with Sensex at 80,222.43, down by 206.61 points, and Nifty at 24,417.60, down by 61.45 points. Nifty Bank in the morning session was trading low at 51,610.80 points, also slipping by 167.50 points.
Budget 2024
On July 23, Finance Minister Nirmala Sitharaman presented the Union Budget 2024–25 to the legislature. The budget was centered on funding for the agriculture industry, launching employment-related programs, announcing financial support announcements for the MSME sector, investing in infrastructure, and projecting a 4.9 per cent fiscal deficit with a pledge to cut it to a 4.5 per cent deficit.
The government changed the capital gains taxes for the fiscal year and reduced customs duties concurrently. Under the new tax policy, the "taxation budget" takes the shape of a revision to tax slabs. For the most recent information, follow our Budget 2024 key Highlights live blog.
Markets movement
From the Sensex pack, ITC, HDFC Life, and Tech Mahindra were among the major gainers in the morning session, whereas, Bajaj, HUL, and Tata Consumer Products were among the laggards.
From the Nifty tranche, Bajaj Finance, M&M, and Nestle were amongst the Loosers, while TCS, Wipro, and Tata Steel were among the gainer with slight upward move. The Indian rupee opened at 83.68 against the dollar.
Markets on Tuesday
The stock markets ended Tuesday on a lower note for both the BSE Sensex and the NSE Nifty.The 30-share BSE Sensex closed the day at 80,429.04, 79.43 points or 0.10 per cent. Similarly, the NSE Nifty ended in red, declining by 21.60 points or 0.09 per cent, closing at 24,509.25.
Gainers and Losers
Amongst the gainers, Ultratech, HDFC Bank and NTPC gained over 2 per cent.
Kotak Bank and Reliance Industries were the biggest losers with a decline of over 3 per cent.Energy and International Markets
Crude Oil prices
U.S. West Texas Intermediate crude (WTI) decreased by 0.13 per cent or 1 cent to USD 78.39 per barrel. Brent crude prices also increased by 3 cent to USD 82.43 a barrel.
US markets
On Monday, both the S&P 500 and Nasdaq saw a collective jump in their numbers, while the Dow Jones Industrial Average also saw a rise its value.
The S&P 500 closed at 5,555.74, gaining 8.67 points, or 0.2 per cent. The Dow Jones Industrial Average ended at 40,415.44, gaining 57.35 points, or 0.1 per cent. Additionally, the Nasdaq Composite saw a jump of 0.1 per cent to reach 17,997.35.
Asian Markets
The Asian indices started in green, while Japan's Nikkei 225 index gained 0.1 per cent higher to 39,621.280. at the day's trade. Hong Kong’s Hang Seng index dipped by 0.1 per cent to 17,620 points.
