Share Market Highlights 22 July 2024: Sensex, Nifty settle lower ahead of Union Budget

Sensex, Nifty updates on 22 July 2024: Equity benchmark indices Sensex and Nifty ended lower on Monday, dragged down by heavy selling pressure in Reliance Industries and Kotak Mahindra Bank ahead of the Budget.

Besides, a weak trend in global equity markets also hit investors sentiment, traders said. Falling for the second day in a row, the 30-share BSE Sensex fell 102.57 points or 0.13 per cent to settle at 80,502.08. During the session, it tanked 504 points or 0.62 per cent to 80,100.65. The NSE Nifty dipped 21.65 points or 0.09 per cent to 24,509.25. During the day, it dropped 168.6 points or 0.68 per cent to 24,362.30. Among the Sensex pack, Reliance Industries declined over 3 per cent after the company reported a 5 per cent drop in its June quarter net profit. Kotak Mahindra Bank also fell more than 3 per cent after its June quarter earnings failed to cheer investors. Despite global risks, Indian markets have performed well, with the BSE Sensex surging 25% in FY24. The document credits India’s resilience, stable macroeconomic outlook, and domestic investor strength for its exemplary performance.