Stock Market LIVE: Sensex recovers, rises 150 points, Nifty approaches 24,600; Eco Survey in spotlight

Stock Exchange LIVE on Monday July 22, 2024: Indian benchmark indices opened lower on Monday, with the BSE Sensex down 463 points to 80,141, while the Nifty50 index fell 147 points or 0.6 percent to 24,383. However, the benchmarks recovered soon after to trade in the green, with the Sensex up 0.22 percent to 80,783, while the Nifty50 rose 0.18 percent to 24,475.

On the BSE Sensex, Kotak was the top loser, followed by Reliance Industries, JSW Steel, HCL Tech, IndusInd Bank, Bajaj Finance, Asian Paints, ICICI Bank and Tech Mahindra, while Nestle India, Infosys, HUL, ITC and TCS were among the top gainers.

In line with the benchmarks, the broader markets also showed weakness, with the MidCap index down 0.77 percent and the SmallCap index down 1.34 percent.

On NSE, Wipro was the top loser, down as much as 7 percent, followed by Kotak Bank, Reliance Industries, Eicher Motors and L&T. On the other hand, Ultratech Cement, NTPC, BPCL and Infosys gained.

Sector-wise, Nifty Realty, Nifty Consumer Durables and Nifty Private Bank suffered losses, while Nifty PSU Bank and Nifty Pharma led the gains.

Moreover, the Union government will also present the Economic Survey for 2023-24 on Monday, ahead of the Budget. Finance Minister Nirmala Sitharaman will present the document in both the Lok Sabha at 1 pm and the Rajya Sabha at 2 pm, followed by a press conference at 2.30 pm.

In addition, markets today expect US President Joe Biden to withdraw from the presidential race and support Vice President Kamala Harris as the Democratic presidential candidate.

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