Markets Tumble as IT Drags, IEX Hit by Regulatory Blow
🔔 Key Indices Summary
The Indian stock market witnessed a sharp sell-off today, led by heavy losses in IT and FMCG sectors. Major indices closed in the red as investor sentiment turned cautious.
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Sensex ended the day at 82,184, shedding 542 points
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Nifty 50 slipped 158 points to close at 25,062
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Broader markets followed suit – Midcap 100 lost 0.58%, and Smallcap 100 dropped over 1%
🔍 What Triggered the Fall?
1. 💻 IT Sector Weakness
The ongoing Q1 earnings season has exposed cracks in the IT segment. Poor performance and muted guidance from leaders like Infosys and TCS spooked investors, dragging the Nifty IT index down by over 2%.
2. ⚡ Regulatory Setback for IEX
The Indian Energy Exchange (IEX) tanked nearly 15% after the Central Electricity Regulatory Commission (CERC) approved the rollout of market coupling — a move that could dent IEX’s monopoly and revenue model.
3. 🌍 Global Uncertainty
A surprise development involving Donald Trump’s visit to the U.S. Fed stirred unease in global markets. Additionally, ambiguity around U.S.–India and UK–India trade negotiations added to investor nervousness.
4. 💸 FII Outflows and Profit Booking
Foreign institutional investors (FIIs) continued to offload equities. Combined with domestic profit booking after recent highs, this led to broad-based selling across sectors.
🏭 Sector Snapshot
| Sector | Performance |
|---|---|
| 🧠 IT | -2.2% |
| 🍫 FMCG | -1.1% |
| 🏘️ Realty | -1.0% |
| 💊 Pharma | +0.5% |
| 🏦 PSU Banks | +1.2% |
🚀 Top Gainers
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Dr. Reddy’s Labs (+2.4%) – Gained on news of launching a generic weight-loss drug in global markets.
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Tata Motors, Grasim, and Cipla held steady amid the sell-off.
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Sun Pharma outperformed slightly with a modest gain.
📉 Notable Losers
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Nestlé India plummeted over 5.6%, reacting to lukewarm results.
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Tech Mahindra, Reliance, and Trent slipped sharply.
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IEX saw a heavy beating on regulatory news.
🧠 Market Sentiment
Today’s correction was primarily driven by:
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Corporate earnings disappointments
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Regulatory shocks in the power sector
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Continued FII selling pressure
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Profit booking post-Nifty’s recent rally
Volatility is likely to persist until there's clarity on earnings trajectory and global trade dynamics.
🔮 Outlook for Tomorrow
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Watch for stock-specific reactions to earnings
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Nifty support seen around 24,950–25,000; resistance near 25,300
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Traders should remain cautious amid global cues and regulatory developments
📝 Conclusion
July 24 turned out to be a tough day for Indian equities. A combination of weak IT earnings, sectoral reforms, and global uncertainty rattled markets. Investors are advised to stay alert, avoid aggressive positions, and watch how mid- and small-cap segments perform in the coming sessions.
About Money99
Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.
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