Stock Market: The announcement of LTCG, STCG and Security Transaction Tracks in the General Budget 2024 led to selling in the Indian stock market. But now the market has changed its course. After the initial shock of the announcements made in the budget, now Nifty and Sensex are preparing to make a new record again. Nifty50 is up by more than 300 points while Sensex has climbed more than 1200 points. In the boom of the market, all sectors are trading with green mark. The market is getting the most strength from metal, IT, auto and pharma sectors. 47 stocks of Nifty 50 are trading with gains.
Top gainers of Nifty50
Among the Nifty50 stocks, Shriram Finance, DiviLab, Apollo Hospital, Adani Enterprises and Bharti Airtel are the top gainers. On the other hand, shares of Nestle India, ONGC and Dr. Reddy’s have seen a slight decline.
Boom in IT and metal sector
IT and metal sectors performed the best in the market. Tata Steel, Hindalco and JSW Steel saw a rise of more than 3 percent. At the same time, auto, infra, pharma and realty are also seeing a rise of about 2 percent.
The mid and small cap indices are showing a gain of more than 2 and 1 percent respectively. Since the beginning of the year, these two indices have seen a gain of 25 percent and 24 percent, while the Nifty has gained only 14 percent.
Let us tell you that after the presentation of the budget on 23 July, there was a decline in the market. Because, the market did not like the announcement of increase in long term and short term capital gain tax. But, after 2 days of decline, the Indian markets have again gained momentum.
Tags: Business news, Multibagger stock, Stock market today
FIRST PUBLISHED : July 26, 2024, 14:13 IST