Sensex Dips 73 Pts, Nifty Falls 30 Pts on July 23, 2024

Nifty ? ? ? ??24,479 [-30.20] 0.12

Sensex ? ?80,429 [-73.04] 0.09?

Reasons for Market Downturn??

• Finance Minister Nirmala Sitharaman's announcement of higher taxes on capital gains significantly impacted market sentiment.?

• The STT increase on options and futures added to transaction costs. This change further pressured the market and contributed to the overall downturn.

• The sudden changes in tax policy led to significant selling pressure as investors reacted to the increased costs associated with trading and capital gains.?

Top 3 Stocks That Lost The Most?

Nifty?

Larsen & Toubro Ltd: -3.00

Hindalco Industries Ltd:? -2.97

Shriram Finance Ltd: -2.79

Sensex?

Larsen & Toubro Ltd: -3.73

Bajaj Finance: -2.18?

PowerGrid Corp: -1.48

Sectors of the Day?

Nifty Realty: -2.29?

Nifty Financial Services: -1.50

Nifty PSU Bank:? -1.40

IPO Performance

• Manglam Infra and Engineering Limited IPO will be open for bidding from July 24, 2024, to July 26, 2024, with shares priced at ?10 per share.?
• Chetana Education Limited IPO will be open for bidding from July 24, 2024, to July 26, 2024, with shares priced at ?80 to ?85 per share.?

Key Events to Track For 24th July 2024?

• Monitor international markets for any significant developments or trends that could impact Indian markets.?

• Keep an eye on scheduled economic data releases such as GDP figures, industrial production data, or inflation reports, as they can influence market sentiment and direction.?

• Track earnings announcements from major companies across sectors, to gauge the health of the corporate sector and anticipate market reactions.?

• Stay informed about any policy announcements or decisions by the Indian government, as they can impact market sentiment and specific industries.?

• Stay updated on global events as they can affect Indian markets and investor sentiment.

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