Market Dips Amid IT Sector Concerns

By Mandar in Indian Market Insights —

Market Overview: July 24, 2025

On July 24, 2025, India's equity markets experienced a marginal decline.

  • The Nifty 50 index decreased by 0.17% to 25,179.65.
  • The BSE Sensex fell by 0.2% to 82,559.8.

Market Sentiment and Notable Momentum Stocks

The IT sector was a major drag on the market.

  • The NIFTY IT index fell by 1.7%.
  • Significant drops were seen in major IT companies:
    • Coforge: Approximately 9% decline
    • Persistent Systems: Approximately 8% decline
    • Infosys: 1% decline
  • Analysts linked the IT sector's struggle to structural challenges and global tariff concerns.

Conversely, Dr. Reddy's Laboratories showed positive performance.

  • Dr. Reddy's Laboratories gained 2.4%.
  • This was due to their announcement of a generic obesity drug launch in 87 countries despite a slight miss on quarterly profit expectations.

Technical Analysis

1-Hour Timeframe Analysis

Based on the analysis from July 23, 2025:

  • Both Nifty 50 and Bank Nifty closed bullishly.
  • Nifty 50 closed at 25,219.9.
  • Bank Nifty closed at 57,210.45, near its daily high.
  • This indicated potential for short-term upward movement.

The overall market displayed resilience, but the IT sector's issues and global trade uncertainties continue to affect investor confidence.