Sensex Drops to 80,148 and Nifty Declines to 24,413 on July 24, 2024

Nifty ? ? ? ??24,413 [-65.55] 0.27

Sensex ? ?80,148 [-280.16] 0.35

Reasons for Market Downturn??

• The Union Budget tabled on July 23 led to mixed market sentiment, with some sectors experiencing declines despite overall encouraging measures. This affected investor confidence in certain segments.

• Despite strong liquidity and robust retail inflows, concerns over high valuations continued to weigh on investor sentiment, contributing to the market's decline.

• Profit-taking in specific banking and FMCG stocks further contributed to the decline in key benchmark indices.

Top 3 Stocks That Lost The Most?

Nifty?

Bajaj Finserv Ltd:? -2.09?

Tata Consumer Products Ltd: -1.90?

Britannia Industries Ltd:? -1.88

Sensex?

Bajaj Finserv:? -2.44

Axis Bank:? -1.98?

Bajaj Finance:? -1.80?

Sectors of the Day?

Nifty Bank:? -0.89

Nifty Private Bank:? -0.76

Nifty Financial Services:? -0.60?

• The stock price of Tata Consumer Products fell today after the company announced a rights issue at a 35% discount, leading to concerns about share dilution and financial strategy among investors.

IPO Performance

• Clinitech Laboratory Limited IPO will be open for bidding from July 25, 2024, to July 29, 2024, with shares priced at ?96 per share.?

• Aprameya Engineering Limited IPO will be open for bidding from July 25, 2024, to July 29, 2024, with shares priced at ?56 to ?58 per share.?

• Trom Industries Limited IPO will be open for bidding from July 25, 2024, to July 29, 2024, with shares priced at ?100 to ?115 per share.?

Key Events to Track For 25th 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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