On July 22, 2024 both the Sensex and Nifty down fell, on the basis of various factors such as market sentiment and although there are no specific major release or news or events that affected the markets on this particular day, various factors do have an impact on the trend.
the Sensex and the Nifty fell down because of the expectation of Union Budget presentation by the Finance Minister, Nirmala Sitharaman on July 23 rd. The Sensex settled 392 points lower at 80,502. 08, down by 102. 57 points higher and The Nifty 50 closed at 24,509. 25, down by 21. 65 points.
Sensex:
- In the context of the BSE, the Sensex was identified as closing at 80,502. 08, down by 102. 57 points or 0. 13%.
- The pullback was contained during the day and never ventured far from its high/low band of 80,100. Both the starting and the peak values are 65 with the maximum reached at 80,800. 92.
Nifty:
- The Nifty 50 closed around 24,509. 25, down by 21. 65 points or 0. 09%.
- This stock fund had a trading range for the day at 24, 362: low, though not as cheap as other trading stocks. It traded as low as $30 and as high as $24595. 20.
Sector Performance:
- Improvement was recorded in Auto, Metal, Pharma & Heathcare segments.
- The specific industries that experienced variations are the FMCG, IT, Media, Realty, and the Oil & Gas, all of which contracted.
Market Influences:
- Lifting the rates, the market uncertainty ahead of the Budget 2024 presentation was seen as the reason for the declines in both the indices.
- Furthermore, global aspects, for example the withdrawal of the US president Joe Biden from the presidential race also influenced the conservative approach of the market.
Corporate Earnings:
- Some of the firms stated their period three financials. The bank reported that IDBI Bank had a YoY growth of 40 per cent in its standalone net profits. Net loss of the firms: Narrowed net loss for the current year compared to last year is as follow: Solara Active Pharma & Lifestyle besides, Mahindra Logistics. Ref. Live Mint & Moneycontrol.
- The market’s cautious sentiment was influenced by upcoming budget expectations, global economic factors, and US political developments, including President Biden’s decision to withdraw from the presidential race
sensex and nifty down :
Union Finance Minister Smt. Nirmala Sitharam said the Union Budget for the fiscal year 2024-25 on 23rd July 2024. This budget could be remembered as highly historic one as it was the first time when the Finance Minister of India, Smt. Nirmala Sitharaman delivered the seventh successive Union Budgets Sensex And Nifty Down.
After the announcement of the budget; the stock exchange went on a roller coaster with its volatility. In respect of the impact on the stock exchanges, the volatility in the Sensex and Nifty down went up among the investors as they responded to the different policy measures and the fiscal measures contained in the budget.
Key market reactions included after Sensex And Nifty Down:
- A marginal upmove was observed in Sensex as it touched the potential area of 80520. 50, up by 118. 42 points (0. 15%).
- The Nifty 50 closed at the level of 24,573. 80, up by 64. 55 points (0. 26%).
The key components of the budget included high capital expenditure and fiscal consolidation with the intention of making the country grow while at the same time giving attention to the fiscal deficit Sensex And Nifty Down. Infrastructure and manufacturing industries as well as heath care sectors were given more attention in terms of investment and policies were formulated to support the expansion of the industries.
The flow of global influence was another determinant of market movements influenced by political changes in the US and the economic signals from China .
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