Nifty falls below 24,400, the Sensex breaks the day’s low, and financial stocks are under pressure.

Axis Bank's dismal quarterly results on Today caused Indian markets to open lower, adding to the pessimistic sentiment among investors already impacted by the government's recent tax hikes on derivatives trading and returns on equity investments.

The share prices of Patel Engineering and RVNL rose by more than 5% following the agreement to undertake electricity infrastructure projects.

According to RVNL, the primary goals of the MoU are to collaborate and provide a supportive environment in order to achieve synergies in hydroelectric and other infrastructure projects. The business recently defeated Southern Railway to get the lowest bid (L1) on a project worth more than ₹111.38 crore. The directive must be carried out, according to RVNL, within 18 months.

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Sensex, Nifty at day’s high; all sectors in the green

On August 21, the market regulator published an order.
The benchmark Nifty and Sensex stock market indices increased on Monday due to inflows of foreign funds and a surge in their US counterparts. After US Fed Chair Jerome Powell’s recent speech at the Jackson Hole meeting, when he indicated that the time has come for an easing of policy and hinted at prospective rate cuts in September, the market traded on an optimistic note.

In the Nifty 50, gains were registered in twelve of the thirteen key sectors. There was a 1.3% gain in information technology companies, which get a significant amount of their revenue from the US.

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