Stock Market Live: Union Budget Day 2024 Stock Market LIVE updates July 23 Sensex Nifty Nirmala Sitharaman trading tips | News on Markets
Stock Market Live on Budget 2024 day: Indian bourses are likely to remain volatile throughout the day as investors assess what’s in store from the Modi 3.0 budget.
The GIFT Nifty futures suggest a flat to positive opening, as they quoted 46 points higher to Nifty50 futures at 24,509 levels.
Asia-Pacific markets traded higher on Tuesday, in line with the gains seen on Wall Street.
Japan’s key benchmark, the Nikkei 225 rose by 0.29 per cent and the broader based Topix index soared by 0.46 per cent.
South Korea’s Kospi index surged by 0.79 per cent, while the Kosdaq, which focuses on small-cap stocks, edged up by 0.45 per cent.
Australia’s S&P/ASX 200 also moved up by 0.59 per cent. Hong Kong’s Hang Seng index, too, traded in green and was up by 0.25 per cent.
In the US overnight, all three major indices rose as tech shares regained their momentum following losses in the last week on Friday. The S&P 500 rose by 1.08 per cent, while the Nasdaq Composite gained 1.58 per cent. Meanwhile, the Dow Jones Industrial Average also increased by 0.32 per cent.
Stocks to watch on Budget 2024
UCO Bank: UCO Bank reported a significant surge in net profit, which jumped 147 per cent year-on-year to Rs 551 crore for the quarter ending June 2024. The increase was driven by higher other income and interest margins. Non-interest income grew by 32 per cent to Rs 835 crore, while net interest income (NII) rose by 12 per cent to Rs 2,254 crore. Global net interest margin (NIM) also improved to 3.09 per cent from 2.86 per cent a year ago.
IDBI Bank: IDBI Bank recorded a standalone net profit of Rs 1,719.27 crore in the first quarter of FY25, marking a 40.4 per cent increase compared to Rs 1,224.18 crore in the same period last year. On a consolidated basis, Q1 profit stood at Rs 1,739.15 crore.
Gensol Engineering: Gensol Engineering secured a Rs 600 crore contract as the successful bidder for 116-megawatt solar projects in Gujarat. These projects, spread across 27 locations under Paschim Gujarat Vij Co., the state electricity distribution company, were confirmed via regulatory filing.
RailTel: RailTel Corporation of India received a significant contract worth Rs 186.81 crore (including taxes) from the Ministry of Railways (Railway Board). The contract entails designing, developing, implementing, operating, and maintaining a hospital management information system (HMIS) and an integrated empanelled hospital referral portal for Indian Railways.
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