22nd July 2024- Indian benchmark indices, Sensex and Nifty, ended marginally lower in a volatile trading session on July 22. The decline was primarily driven by Reliance Industries and Wipro, whose weaker-than-expected quarterly results weighed on the market as per the report.
The market closed on July 22 with the Sensex down 79.43 points or 0.10 per cent at 80,525.22 and the Nifty down 21.60 points or 0.09 per cent at 24,509.30. The trading took place on the Bombay Stock Exchange (BSE) for the Sensex and the National Stock Exchange (NSE) for the Nifty.
Why Did It Happen?
The drop in shares was due to the disappointing earnings reports from Reliance Industries and Wiproin quarter results according to the source. Additionally, market volatility spiked as investors remained cautious ahead of the union budget announcement on Tuesday.
The NSE Nifty 50 was down 0.2% at 24,484.93, and the S&P BSE Sensex shed 0.16% to 80,474.6 by 9:44 a.m. IST. The volatility index reached a six-week high of 15.54 as domestic and foreign investors awaited potential changes in long-term capital gains tax in the upcoming union budget.
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