On Monday, July 22, 2024, Finance Minister Nirmala Sitharaman will present the Economic Survey in Parliament. Following this, the full budget for the financial year 2024-25 will be presented in the Lok Sabha on July 23. The presentations are highly anticipated by domestic and foreign investors, retail investors, brokerage firms, and market experts. These announcements, along with the first-quarter results of companies, are expected to set the tone for the stock market in the upcoming business week.

Economic Survey and Full Budget

Market experts highlight the importance of the Economic Survey and the full budget in determining market trends. According to analysts, the Survey and the budget, combined with company results for the first quarter, will influence the stock market’s direction. Additionally, the activities of foreign investors, the rupee’s volatility against the dollar, and Brent crude oil prices will also play significant roles.

Budget’s Impact on the Stock Market

Pravesh Gaur, Senior Technical Analyst at Swastika Investmart Ltd, emphasized the crucial role of the upcoming budget in shaping the stock market. He expects the budget to continue policies that promote economic growth. Besides the budget, other factors such as quarterly company results, domestic and global economic data, and the broader global market trend will also affect investor sentiment. The actions of foreign and domestic institutional investors (FIIs and DIIs) and crude oil prices will be pivotal for the market’s direction.

Upcoming Quarterly Results

Focus on HDFC Bank

On Monday, all eyes will be on HDFC Bank’s stock. HDFC Bank reported a consolidated net profit growth of 33.17 percent to Rs 16,474.85 crore in the first quarter ended June 2024. Last week, the BSE’s 30-share Sensex rose by 85.31 points or 0.10 percent, while the National Stock Exchange’s Nifty increased by 28.75 points or 0.11 percent. Both the Sensex and Nifty reached new all-time highs on Friday, with the Sensex peaking at 81,587.76 and the Nifty at 24,854.80 points.

The Economic Survey and the full budget presentation by Finance Minister Nirmala Sitharaman are critical events that will shape the market’s future trajectory. Investors and market participants are keenly watching these announcements, along with the first-quarter results of major companies, to gauge the economic outlook. The outcomes of these events will provide valuable insights into the government’s economic policies and their potential impact on the stock market.