Stock Market Live Updates 23 July 2024: Sensex, Nifty open flat with positive bias; market eyes Budget announcements

Sensex, Nifty, Share Prices LIVE: The Indian benchmark indices opened flat with a positive bias as they awaited Budget announcements. The BSE Sensex rose by 234.38 points to reach 80,736.46, and the NSE Nifty increased by 66.15 points to 24,575.40. Analysts are anticipating a downward bias in the market due to stiff valuations, especially in the mid-cap space. The conservative growth forecast in the economic survey and rising US-China tensions have added to investor apprehensions. However, the Union Budget is expected to be favourable, with measures aimed at addressing the rural economy. The government’s estimate of economic growth and its focus on encouraging private sector investments are noted. Additionally, there are expectations of incentives for labour-intensive businesses in manufacturing. The India VIX, a gauge of market volatility, rose, indicating increased market uncertainty. Meanwhile, in early trading, Asian stocks are moderately up.