Share Market Pre Open Updates – July 23, 2024

On July 22, 2024, the Nifty 50 and Sensex fell by -0.09% and -0.13%, respectively, closing at 24,509 and 80,502. Indian benchmark indices closed lower for the second consecutive session on July 22, driven by selling in heavyweight stocks. Traders remained cautious ahead of the Union Budget announcement scheduled for July 23, 2024.

Top Gainers and Losers

In terms of sectors, Nifty Auto, Nifty Healthcare Index, Nifty Pharma, and Nifty Mid-small Healthcare showed gains. Conversely, Nifty Oil and Gas, Nifty Realty, Nifty Media, and Nifty IT experienced declines. The top movers of the day included HAL, REC Ltd, Shree Cements, and Grasim as the top gainers, each showing notable increases. On the flip side, the top losers were Wipro, Reliance, Kotak Bank, and ICICI Prudential, which experienced declines in their stock prices.

Stocks In The News

Now, let’s look at the stocks trending in the news:

• IHCL: IHCL shares saw a 7% increase after the company reported a healthy April-June quarter, with revenue rising by 5.7% year-on-year.
• Kotak Mahindra Bank: Investors engaged in profit booking for Kotak Mahindra Bank after the company reported strong Q1 FY25 results, leading to a 3% drop in shares.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.