On the daily charts, we can observe that the Nifty traded within the range of the previous trading session. The intraday pullback fizzled out at the key hourly moving averages placed in the range 24,480 – 24,520.

The trend for the Nifty has changed to range-bound between 24,800 – 23,800. The daily momentum indicator has a sell signal and thus ideal strategy would be to 'Sell on Rise' around resistance zone 24,500 – 24,550. On the downside, we expect support at 24,200 – 24,000 from short term perspective.

Bank Nifty

Bank Nifty witnessed follow through selling pressure and has been leading the recent fall. We expect the weakness to continue. Sell on rise around 51,800 – 51,700 should be ideal strategy to trade in Bank Nifty. On the downside, the target is placed at 50,600.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

3:44 PM

Currency Check :: Rupee ends 2 paise weaker vs US dollar at 83.717

3:42 PM

Broader markets :: SmallCap index outperforms peers, rises nearly 2%

3:40 PM

Sectoral trends :: Indices end mixed; Media index shines, Bank drags

3:39 PM

Sensex Heatmap :: 20 of 30 index stocks end in red

3:37 PM

Closing Bell :: Nifty ends below 24,450

3:37 PM

Closing Bell :: Sensex falls 280 pts

3:29 PM

IFCI, MMTC, STC, Suzlon, Raymond among 354 stocks locked in upper circuit

Shares of Suzlon Energy hit the upper circuit for the second straight day, up 5 per cent at Rs 60.71 after the company reported solid set of June 2024 quarter (Q1FY25) results, with the company reporting highest quarterly earnings before interest, taxes, depreciation, and amortization (EBITDA) in 7 years at Rs 370 crore. READ MORE

3:23 PM

ALERT :: CG Power enters into definitive agreement for acquisition of 55% stake of G G Tronics

>> This acquisition is in line with CG’s strategic intent to expand its Railway product portfolio.

>> Co will subscribe to Compulsorily Convertible Preference Shares for an aggregate consideration of up to Rs 319.38 crore

3:07 PM

India needs to monetise assets to support spending, says JPMorgan

The federal budget released Tuesday targeted a smaller fiscal deficit for this year on the back of a record dividend from the Reserve Bank of India. READ MORE

3:00 PM

This PSU telecom stock has zoomed 110% in 2 weeks; hits over 14-year high

Shares of Mahanagar Telephone Nigam Limited (MTNL) hit an over 14-year high of Rs 88.06, gaining 5 per cent on the BSE in Wednesday's intraday trade. The market price of state-owned telecom - cellular & fixed line - services provider was trading at its highest level since January 2010. MTNL stock had hit a record high of Rs 390 on February 14, 2000. READ MORE

2:52 PM

ALERT:: V-Guard Q1 net soars 54%; stock rises 4%

V-Guard Industries June quarter net profit soared 54.1 per cent YoY to Rs 81.88 crore in Q1FY25 as against Rs 53.13 crore in Q1FY24. Total income grew 22.6 per cent YoY to Rs 1,421.05 crore from Rs 1,158.81 crore.

2:43 PM

Krsnaa Diagnostics shares rise 5% on order win from MP Govt to set up MRIs

This came after the company on Tuesday said that it will set up, operate, manage, and maintain 1.5 Tesla Magnetic Resonance Imaging (MRI) diagnostic facilities at five government district hospitals in the state of Madhya Pradesh. READ MORE

2:33 PM

Thyrocare Tech stock skyrockets 17% post Q1FY25 results; details here

Thyrocare Technologies stock surged up to 16.75 per cent, hitting its 52-week high at Rs 759 per share on the BSE in Wednesday’s intraday trade. This came after the diagnostic company delivered strong financial performance in the April-June quarter of financial year 2024-25 (Q1FY25). READ MORE

2:27 PM

ALERT:: Mahindra Life stock gains 3% as income grows 10-fold

Mahindra Lifespace Developers June quarter net loss expanded to Rs 23.75 crore in Q1FY25 as against a loss of Rs 5.49 crore in Q1FY24. Total income, however, zoomed 936 per cent YoY to Rs 201.53 crore from Rs 19.45 crore.

Closing Bell on Wednesday, July 24, 2024: Benchmark indices in te Indian stock markets witnessed another volatile session on Wednesday as investors assessed and reacted to the Budget 2024 proposals. The BSE Sensex index, which fell to a low of 79,750 during the day, ended at 80,149, down 280 points or 0.35 per cent.

The Nifty50, meanwhile, hit an intraday low of 24,307 before settling at 24,414, down 66 points or 0.27 per cent.

Among stocks, selling in Bajaj Finance, Axis Bank, Bajaj Finserv, HUL, Nestle India, Adani Ports, SBI, Kotak Bank, and IndusInd Bank weighed on the frontline indices.

In the broader markets, the BSE MidCap index gained 0.68 per cent, and the BSE SmallCap index rose 2 per cent.

Sectorally, the Nifty Media index climbed 2.5 per cent, and the Nifty Pharma, and Realty indices 0.7 per cent each. The Nifty Bank index, on the contrary, fell 0.89 per cent.

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Topics :Sensex MARKET LIVE MARKET WRAP Market news stock market trading BSE NSE Trading strategies Gift Nifty Indian stock market

First Published: Jul 24 2024 | 7:44 AM IST

Market Highlights, July 24: Post Budget jitters, Bajaj twins drag Sensex 280 pts, Nifty below 24,450

Stock Market Highlights on Wednesday, July 24: Selling in Bajaj Finance, Axis Bank, Bajaj Finserv, HUL, Nestle India, Adani Ports, SBI, Kotak Bank, and IndusInd Bank weighed on the frontline indices

Key Events

Tech View :: 'Sell on Rise strategy ideal for Nifty, bank Nifty'