Indian equity indices fell ahead of the Union Budget; Sensex and Nifty declined, while midcap and smallcap stocks saw buying.
Indian equity indices closed lower on Monday ahead of the Union Budget, with the Sensex falling 102 points or 0.13% to 80,502, and the Nifty declining 21 points or 0.09% to 24,509. Buying was observed in midcap and smallcap stocks, with the Nifty Midcap 100 index rising 1.28% and the Nifty Smallcap 100 index climbing 0.90%. The conservative economic growth forecast for FY25 and below-estimated Q1 results from certain index heavyweights raised concerns about a possible slowdown in earnings growth in FY25.
July 22, 2024
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