Indian stock markets opened lower on July 22, 2024, with the BSE Sensex declining by 463 points to 80,141 and the Nifty50 index falling 147 points to 24,383. The downturn was largely influenced by disappointing quarterly results from major companies such as Reliance Industries and Wipro, which reported weaker-than-expected earnings. Reliance Industries saw its shares dip by 3% to Rs 3,018.65 after announcing a 5.5% year-on-year decline in consolidated profit to Rs 15,138 crore for Q1 FY25. Analysts noted that the market is expected to remain cautious ahead of the upcoming Union Budget, with significant attention on corporate earnings and global economic indicators, including US GDP numbers. The Nifty50 is seen as vulnerable if it closes decisively below 24,500, with 24,000 acting as a crucial support level and 24,900 as a resistance point. Overall, market sentiment is anticipated to be rangebound as investors await further cues from the economic landscape.