Market Wrap: Post budget the benchmark indices concluded the trading day on a negative note!

About 1,743 stocks were advancing compared to 2,159 that were declining, indicating a negative sentiment in the broader market.

Market Wrap: On Tuesday, the highlight of the day was the budget, with the market showing muted sentiment. The benchmark indices concluded the trading day on a negative note, with the Sensex dipping by 0.09 percent to 80,429.04 and the Nifty dropping by 0.12 percent to 24,479.05.

Additionally, the broader market experienced a decline, with the Nifty Mid-cap closing down by 0.60 percent and the Nifty Small-cap plunging by 0.88 percent.

Furthermore, the market volatility, as indicated by India VIX, reduced by 17.43 percent, closing below 13, which reflects an increase in market volatility.

Within the sectoral landscape, Nifty FMCG and Nifty Media were among the top gainers, while Nifty Realty, Nifty PSU Bank, and Nifty IT were among the top losers.

About 1,743 stocks were advancing compared to 2,159 that were declining, indicating a negative sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session following the budget announcement, the benchmark indices are trading on a muted note, with the Sensex trading lower by 0.14 per cent touching 80,382.22 mark, while Nifty plunged by 0.19 per cent breaking the level of 24,452.80 points.

Similarly, in the broader indices Nifty Mid-cap dipped by 0.84 per cent, while Nifty Small-cap declined by 0.90 per cent.

India VIX has declined by 14.96 per cent, indicating significant decrease in market volatility.

Within the sectoral landscape, Nifty Pharma and Nifty FMCG are among the top gainers while Nifty Realty, Nifty Metal and Nifty PSU Bank are among the top losers.

About 1,506 stocks are advancing as against 2,355 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:50 PM: With the budget announcement, the market saw a significant fall. The Sensex dropped by 0.63 per cent to 80,001.96, while the Nifty fell by 0.72 per cent to 24,321.20 points.

Finance Minister Nirmala Sitharaman revised the tax slabs under the new regime and proposed an increase in the Securities Transaction Tax (STT) on Futures and Options (F&Os) to 0.02 per cent and 0.1 per cent, respectively. She also announced that long-term capital gains on all financial and non-financial assets will be taxed at 12.5 per cent, with an exemption limit set at Rs 1.25 lakh per year.

Additionally, the broader market experienced declines, with the Nifty Mid-cap down by 1.30 per cent and the Nifty Small-cap dropping by 1.80 per cent. Market volatility, indicated by India VIX, decreased significantly by 10.52 per cent, reflecting a reduction in market volatility.

European stocks are expected to open positively on Monday, with European futures DAX trading higher by 0.63 per cent. In contrast, the CAC and FTSE dipped by 0.06 per cent and 0.42 per cent, respectively. In the sectoral landscape, Nifty FMCG was among the top gainers, while Nifty Metal, Nifty Energy, and Nifty PSU Bank were among the top losers.

About 938 stocks were advancing compared to 2,862 that were declining, indicating a negative sentiment in the broader market.

Market Update at 12:30 PM: The Finance Minister announced that long-term capital gains on all financial and non-financial assets will be taxed at a rate of 12.5 per cent. Additionally, the exemption limit for capital gains will be set at Rs 1.25 lakh per year.

A proposal was also made to increase the duty on printed circuit board assemblies (PCBA) for specific telecom equipment from 10 per cent to 15 per cent. Furthermore, rules and recognition for Foreign Direct Investments (FDIs) will be simplified to encourage their inflow, with an aim to prioritize and promote the use of the Rupee for international investments.

Market Update at 12:10 PM: (Budget 2024 Updates)The Finance Minister highlighted the significant success of GST in reducing the tax burden on the common man and simplifying compliance for industries. To further enhance these benefits, efforts will be made to rationalize the GST tax structure.

In other updates, the fiscal deficit is estimated to be 4.9 per cent of GDP. Additionally, the Finance Minister announced that rules and recognition for Foreign Direct Investments (FDIs) will be simplified to encourage their inflow. This initiative aims to prioritize and promote the use of the Rupee for international investments.

Market Update at 11:10 AM: Indian markets recovered from the lower levels and were seen trading back in green. The Nifty was up by 0.10 per cent at 24,533 and Sensex was up by 146 points or 0.18 per cent at 80,654. 

The reovery in the markets is seen as Finance Minister begins speech of Union Budget.  Finance Minister Nirmala Sitharaman Says Focus On Employment, Middle Class, Skilling.

Market Update at 9:40 AM: On Tuesday, Indian markets opened trading session on a flat note. In contrast to this, the Broader indices displayed negative performance.

The Sensex is trading flat at 0.01 per cent above the 80,509 mark while the Nifty has also dipped by 0.03 per cent placed at 24,500.10 level.

Whereas, in the broader, the Nifty Mid-cap declined by 0.22 per cent trading below the 56,498 level and the Nifty Small-cap plunged by 0.50 per cent.

India VIX has declined by 0.87 per cent, indicating a slight decrease in market volatility.

Within the sectoral landscape Nifty FMGC, Nifty Auto and Nifty Realty was among the top gainers while Nifty Metal and Nifty Media are the major sectors which is underperformed.

About 1,437 stocks are advancing as against to 1,643 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre market: The Indian benchmark indices ended lower for the second straight session on July 22 as traders were cautious ahead of the Union Budget announcements.

At the close, the Sensex was down 79.43 points or 0.10 per cent at 80,525.22, and the Nifty was down 21.60 points or 0.09 per cent at 24,509.30. The GIFT Nifty is trading higher, indicating a positive start for the day. Nifty futures were trading at 24,551.5.

On Wall Street, the three major benchmarks ended higher on Monday as investors returned to megacap growth stocks. This helped both the S&P 500 and Nasdaq Composite recover from their worst weekly performance since April.

The S&P 500 gained 59.41 points, or 1.08 per cent, to 5,564.41 points, while the Nasdaq Composite climbed 280.63 points, or 1.58 per cent, to 18,007.57. The Dow Jones Industrial Average rose 127.91 points, or 0.32 per cent, to 40,415.44.

On July 22, foreign institutional investors (FIIs) bought equities worth Rs 3,444 crore, while domestic institutional investors sold equities worth Rs 1,652 crore.

Disclaimer: The article is for informational purposes only and not investment advice.