Stock Market LIVE on Monday, July 22, 2024: The Sensex and Nifty are expected to open weakly on Monday, following the negative trends in the Asian market. The GIFT Nifty futures also indicate a gap-down start, quoting nearly 100 points lower to Nifty50 futures at 24,427 levels.
Monday will also witness the Union government presenting the Economic Survey for 2023-24, ahead of the Budget. Finance Minister Nirmala Sitharaman will table the document in both Lok Sabha at 1 PM and Rajya Sabha at 2 PM, followed by a press conference at 2:30 PM.
Further, markets today will also assess US President Joe Biden withdrawing from the presidential race, and endorsing Vice President Kamala Harris as the Democratic nominee.
In the Asia-Pacific region, all markets except one flashed the red colour, signalling weakness, with Japan’s key benchmark, the Nikkei 225 falling by 0.91 per cent and the broader based Topix index declining by 0.98 per cent.
South Korea’s Kospi index slipped by 1.17 per cent, while the Kosdaq, which focuses on small-cap stocks, decreased by 1.93 per cent.
Australia’s S&P/ASX 200 also dipped by 0.75 per cent. In contrast, Hong Kong’s Hang Seng index was up by 0.32 per cent.
In the US on Friday, all three major indices slipped with the S&P 500 declining by 0.71 per cent, and the tech-heavy Nasdaq Composite sliding 0.81 per cent. Meanwhile, the Dow Jones Industrial Average dropped 0.93 per cent.