Sensex, Nifty updates on 24 July 2024: BSE Sensex closed at 80,148.88, lower by 280.16 pts or 0.35%, and Nifty 50 closed at 24,413.50, down by 65.55 pts or 0.27%. Realty stocks such as Sobha, Prestige Estate Projects, DLF, Brigade Enterprises, and Macrotech Developers are at critical levels. Emkay Global maintains a favourable stance on FMCG and two-wheelers, while Nuvama Asset Management’s Nikhil Ranka notes potential pressure on defense and railway stocks. Geojit’s VK Vijayakumar suggests focusing on FMCG stocks like ITC and United Spirits for superior returns amid tax hikes on capital gains. He highlights the Budget’s emphasis on growth and financial stability, viewing fiscal consolidation and discouraging excessive F&O speculation as positives. Meanwhile, Asian shares dropped, and foreign investors net sold shares worth ₹2,975 crore on Tuesday.
