What happened during Union Budget July 2024 — STCG Raised to 20%, LTCG to 12.5%?

Budget July 2024 raised STCG tax from 15% to 20% and LTCG from 10% to 12.5%. STT on F&O was doubled. Market fell 0.5% on Budget Day but recovered in 1 week. Capital markets stocks fell most; infrastructure continued rally.

Which stocks benefited most from Union Budget July 2024 — STCG Raised to 20%, LTCG to 12.5%?

Historically, L&T, DLF were among the strongest performers in the aftermath, based on real 1-week/1-month return data.

How did the Nifty 50 react to Union Budget July 2024 — STCG Raised to 20%, LTCG to 12.5%?

The Nifty 50 moved +2.1% in the following week and +5.0% over the following month.

What's the investing lesson from Union Budget July 2024 — STCG Raised to 20%, LTCG to 12.5%?

Capital gains tax hikes cause capital market stock (brokers, exchanges) to fall 5-8% immediately. But the broader market recovers within 1-2 weeks. Retail investors absorb higher taxes — daily volumes dip but recover. Focus stays on fundamentals.

How reliable is this historical pattern?

This pattern has occurred 4 times in our verified database, with the Nifty 50 moving higher in 75% of those occurrences. Our Historical Confidence score for it is 81/100, based on sample size, consistency, and data quality.

Which sectors are most consistently affected?

Across all 4 occurrences, Railway, Metal, Defence showed the strongest and most consistent reactions — led by Railway at +11.0% on average.

What's the ideal holding period based on history?

Historically, the strongest and most consistent move has come over a 1 month window, averaging +2.0% with a 75% positive rate.

Does this pattern always play out the same way?

No — history shows a tendency, not a certainty. The Nifty 50 moved up in 75% of the 4 recorded occurrences, meaning it moved the other way the rest of the time.

Union Budgetmixed Jul 23, 2024

Union Budget July 2024 — STCG Raised to 20%, LTCG to 12.5%

Based on 4 verified historical occurrences of this pattern between Feb 2020 and Jul 2024.

First Occurrence Feb 2020

Latest Occurrence Jul 2024

Occurrences 4

Data Confidence 85%

57Pattern Match

Historical Similarity (30%)40

Success Rate (20%)75

Market Impact (15%)70

Company Consistency (15%)57

Sector Consistency (10%)64

Data Confidence (10%)45

NeutralHistorical Verdict🔴 Weak Pattern

2.5/5 · Weak

Based on 4 historical Union Budget events

Opportunity score 60/100 · 85% confidence · Medium risk · neutral trend

Historically, Railway reacted positively 100% of the time (avg. +11.0%) around events like this.

View Timeline Similar Events Compare With Today

Historical Occurrences

since Feb 2020

Avg. Nifty Reaction (1M)

+2.0%

across all occurrences

Historically Positive

75%

3 of 4 times

Avg. Data Confidence

89.5%

across occurrences

Occurrence Timeline

Feb 01, 2020Union Budget 2020 — Fiscal Slippage Disappoints

-8.2%

Feb 01, 2021Union Budget 2021 — Record ₹5.54L Cr Capital Expenditure

+8.2%

Feb 01, 2023Union Budget 2023 — ₹10L Cr Capex Outlay

+3.2%

Jul 23, 2024Union Budget July 2024 — STCG Raised to 20%, LTCG to 12.5%

+5.0%This Event

Historical Winners

L&T+7.4%

Appeared in 3 similar eventsConsistency

RVNL+14.2%

Appeared in 2 similar eventsConsistency

Hindalco+11.0%

Appeared in 1 similar eventConsistency

Ircon Intl+12.5%

Appeared in 1 similar eventConsistency

NTPC+8.0%

Appeared in 1 similar eventConsistency

View History

Historical Losers

ITC-1.8%

Appeared in 2 similar eventsConsistency

HUL-2.6%

Appeared in 2 similar eventsConsistency

Maruti Suzuki-5.0%

Appeared in 1 similar eventConsistency

Bajaj Finance-4.5%

Appeared in 1 similar eventConsistency

Angel One-6.0%

Appeared in 1 similar eventConsistency

View History

Sector Performance

Average reaction across 4 occurrences

Railway

+11.0%100% of 1x

Metal

+9.0%100% of 1x

Defence

+9.0%100% of 1x

PSU Banks

+8.5%100% of 1x

Infrastructure

+7.0%100% of 3x

FMCG

-2.0%0% of 3x

Consumer

-3.0%0% of 1x

Banking

-3.0%0% of 1x

Auto

-4.0%0% of 1x

Capital Markets

-5.0%0% of 1x

Pattern Recognition

Railway leads most reliably

Reacted positively in 100% of 1 occurrences, averaging +11.0%.

L&T is the most consistent winner

Gained an average of +7.4% and won in 100% of its 3 appearances.

Nifty moved up most of the time

75% of 4 occurrences (3 of them).

Historical Market Statistics

Market Direction

75%Bullish

Bullish (3)Bearish (1)

Company Outcomes

19tracked

Winners (11)Losers (8)

Sector Leadership

Railwatop sector

RailwayMetalDefencePSU BanksInfrastructure

What Changed Every Time

Real consistency across every occurrence — not a guarantee

Nifty moved up

75% (3/4)

Interest rates were falling

50% (2/4)

Crude oil trend was stable

75% (3/4)

Market regime was recovery

50% (2/4)

Railway reacted positively

100% (1/1)

Investment Playbook

Derived from real historical data — a research framework, not a recommendation

Historical VerdictNeutral

Historical Win Rate75%

Ideal Holding Period~1 Month (+2.0% avg.)

Risk LevelMedium

Pattern Match Score57%

Historical Score56/100 (2.5★)

Action Checklist

Watch Railway, Metal, Defence for continued strength

Be cautious on Capital Markets, Auto, Consumer, Banking, FMCG

Historical moves typically play out over 1 month

Cross-check with current market regime before acting — history is context, not certainty

Similar Historical Patterns

Other Union Budget events in our database

Feb 01, 2020

Union Budget 2020 — Fiscal Slippage Disappoints

-8.2% · 1M

Feb 01, 2021

Union Budget 2021 — Record ₹5.54L Cr Capital Expenditure

+8.2% · 1M

Feb 01, 2023

Union Budget 2023 — ₹10L Cr Capex Outlay

+3.2% · 1M

Companies Involved

ZERODHA ANGELONE BSE NSE CDSL

Frequently Asked

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Watchlist

Union Budget July 2024 — STCG Raised to 20%, LTCG to 12.5%

Occurrence Timeline

Historical Winners

Historical Losers

Sector Performance

Pattern Recognition

Historical Market Statistics

What Changed Every Time

Investment Playbook

Similar Historical Patterns

Companies Involved

Frequently Asked