The Indian stock market experienced a notable downturn on Thursday, July 24, 2025, with key benchmark indices, the Sensex and Nifty, closing significantly lower. This decline was primarily influenced by mixed corporate earnings, persistent foreign capital outflows, and specific regulatory developments.
Table of Contents
- Nifty and Sensex Today – Key Market Indices Performance
- Sector-wise Performance
- Top Stock Market News of the Day – What Moved the Markets
- FII and DII Activity Today – Where Big Money Moved
- IPOs, Listings and Market Buzz – Latest Stock Market Trends
- Top Gainers and Losers – Best and Worst Performing Stocks
- Economic and Global Factors – What Else Affected Markets
- What to Watch in the Coming Week – Key Events and Predictions
- Final Takeaway – Summary of Stock Market Day
Indian equity benchmark indices resumed their downward trajectory today after a day of healthy gains. Both the Sensex and Nifty 50 recorded significant losses, reflecting cautious investor sentiment.
- TheBSE Sensex opened lower at 82,615.97 (down 111 points or 0.13% from its previous close). It crashed by as much as 679 points to hit an intraday low of 82,047. The Sensex settled at 82,184.17, registering a substantial loss of 542.47 points or 0.66%.
- TheNSE Nifty 50 also commenced the day in the red. It was trading near the 25,200 mark at 25,204.15 (down 16 points or 0.062%) at 9:23 AM. The Nifty 50 touched a day's low of 25,018.70, reflecting a drop of 0.80% during the session. It concluded the day at 25,062.10, with a decline of 157.80 points or 0.63%.
Broader market indices also faced pressure:
- The BSE Midcap index dropped by 0.43%.
- The BSE Smallcap index declined by 0.50%.
- The Nifty MidCap index fell 0.58%.
- The Nifty SmallCap index experienced a more significant drop of 1.09%.
The collective impact of these declines resulted in investors losing ₹2 lakh crore in market capitalization from BSE-listed firms in a single session, bringing the total market capitalisation down from over ₹460 lakh crore to ₹458 lakh crore.
The market's performance was highly segmented.
Worst Performing Sectors:
- The Nifty IT index was the top loser, falling by 2.21% (and 1.43% during intraday trading), primarily driven by weakness in IT stocks after their Q1 earnings announcements.
- The Nifty FMCG sector also saw a notable drop of 1.12%.
- The Nifty Realty index declined by 1.04%.
- The Nifty Private Bank index also incurred losses.
Top Performing Sectors:
- The Nifty PSU Bank sector emerged as the top performer, finishing the day up by 1.24%.
- The Nifty Pharma sector gained 0.55%.
- The Nifty Auto sector showed a slight gain of 0.15%.
Several key domestic and global developments influenced the Indian stock market performance today.
Domestic News and Impact
India Inc.'s Q1 results presented a mixed picture, contributing to the market remaining within a defined range.
- Infosys, India's second-largest IT company, reported an 8.7% increase in consolidated net profit to ₹6,921 crore and revenue growth of 7.5% to ₹42,279 crore for Q1 FY26. Despite these figures, the stock experienced a decline.
- Bajaj Housing Finance reported a strong Q1, with its net profit rising 21% to ₹583 crore and Net Interest Income (NII) increasing by 33.4%.
- Force Motors witnessed a significant surge in its share price (up 20%). Its net profit jumped 52% to ₹176.3 crore, with revenue growing 21.9%, driven by robust sales and a substantial ₹4,150 crore defence order.
- Nestle India's Q1 FY26 consolidated net profit fell 13.4% year-on-year to ₹646.59 crore, primarily due to inflationary pressures.
- Dr. Reddy's Lab reported an 11% increase in revenue to ₹8,542 crore, while its net profit rose by 1% to ₹1,409 crore.
- Tata Consumer Products posted a 15% year-on-year increase in net profit, reaching ₹334 crore, with revenue climbing 9.8%.
- Ajmera Realty & Infra India Ltd announced strong Q1 FY26 results, with revenue growing 32% year-on-year to ₹260 crore and Profit After Tax (PAT) increasing by 20% year-on-year to ₹39 crore.
A significant event was the sharp decline in Indian Energy Exchange (IEX) shares, which plummeted by 15% to its lower circuit. This was due to the Central Electricity Regulatory Commission's (CERC) official approval to implement market coupling in India's power sector, raising concerns over IEX's dominant market position.
Global News and Impact
- Elusive India-US Trade Deal: The ongoing delay in finalising a trade deal between India and the US continues to keep investors on the sidelines.
- US Fed Rate Outlook: Mixed signals from the US Federal Reserve contributed to global uncertainty. Governor Christopher Waller hinted at potential interest rate cuts, while FOMC meeting minutes indicated that tariffs are viewed as inflationary, prompting the Fed to hold off on further rate cuts for now.
- Global Trade Tensions and Geopolitical Factors: Ongoing global trade tensions, tariff concerns, and regional conflicts (like the India-Pakistan conflict boosting China's military exports) are contributing to accelerating fragmentation in the global economic order.
Foreign Portfolio Investors (FPIs) continued to be net sellers, while Domestic Institutional Investors (DIIs) provided crucial support.
- FII Activity (as of July 23, 2025): FPIs were net sellers, offloading equities worth ₹4,209.11 crore in the cash segment. This continues a broader trend of ₹26,395 crore in outflows so far in July, primarily due to relatively high valuations in India.
- DII Activity (as of July 23, 2025): DIIs were net purchasers, buying stocks valued at ₹4,358.52 crore. Their cumulative net purchases reached ₹30,711.80 crore for the month so far, largely offsetting the foreign selling pressure.
Despite significant FPI outflows, benchmark indices have shown resilience, slipping just over 1% in July, indicating that robust DII buying has largely absorbed the foreign selling.
The primary market remained active today, indicating continued investor interest in fresh listings despite secondary market volatility.
Key IPOs and Listings of the Week
- Indiqube Spaces IPO: Day 2 of the IPO (July 23-25, 2025). This ₹700 crore issue (₹650 crore fresh, ₹50 crore OFS) had a price band of ₹225-₹237 per share.
- Subscription Status (as of July 24, 2025, 10:18 AM): Overall subscribed 1.01 times. Retail Individual Investors (RIIs) subscribed 3.94 times, Non-Institutional Investors 0.93 times, Qualified Institutional Buyers (QIBs) 0.06 times, and Employees 3.06 times.
- Grey Market Premium (GMP):₹9, suggesting an expected listing gain of 2.17%.
- Swastika Castal SME IPO: Allotment status finalised today (bidding window July 21-23, 2025). The ₹14.07 crore issue was subscribed 5.08 times overall (RIIs: 7.75 times, NIIs: 2.42 times).
- GMP:Nil, indicating shares are expected to list at par with the issue price of ₹65.
- Other Allotments: Savy Infra IPO and Monika Alcobev IPO also had their allotment processes completed today.
Upcoming IPOs in the Next Week
Mainboard IPOs:
SME IPOs:
- Monarch Surveyors IPO: Opened July 22, 2025; closes July 24, 2025.
- TSC India IPO: Opened July 23, 2025; closes July 25, 2025.
- Repono IPO: Opens July 28, 2025; closes July 30, 2025.
- Sellowrap Industries IPO: Opens July 25, 2025; closes July 29, 2025.
- Shree Refrigerations IPO: Opens July 25, 2025; closes July 29, 2025.
- Patel Chem Specialities IPO: Opens July 28, 2025; closes July 29, 2025.
Individual stock movements were largely dictated by quarterly earnings reports, corporate announcements, and specific regulatory changes.
Top Gainers (Intra-day July 24, 2025)
Eternal (Food Delivery/Technology)
- Current Market Price: ₹313.15
- Percentage Change: +3.67%
- Reasons: Eternal (formerly Zomato) showed significant upward movement, continuing a strong rally seen in recent sessions. This surge is likely driven by positive investor sentiment around its quick-commerce business, Blinkit, which has shown robust growth and overtaken Zomato in net order value terms. Brokerage upgrades and a shift in the company's business mix towards quick commerce are also contributing factors.
Tata Motors (Automobile)
- Current Market Price: ₹700.50
- Percentage Change: +1.51%
- Reasons: Tata Motors emerged as a gainer, likely benefiting from positive sentiment in the automotive sector. Factors such as optimism ahead of the festive season, pre-festival inventory build-up, robust export momentum, and a declining trend in raw material costs could be contributing to the gains.
Dr. Reddy's Lab (Pharmaceuticals)
- Current Market Price: ₹1,265.50
- Percentage Change: +1.45%
- Reasons: Dr. Reddy's Lab gained following its Q1 FY26 results. While the net profit increase was modest at 1%, revenue grew by 11%. The positive movement suggests that investors are reacting favorably to the overall revenue growth and perhaps the company's performance in branded markets and the Nicotine Replacement Therapy (NRT) portfolio, despite mixed analyst recommendations.
Grasim (Diversified/Chemicals)
- Current Market Price: ₹2,735.90
- Percentage Change: +0.99%
- Reasons: Grasim saw a positive movement today. While specific detailed reasons for today's gain were not immediately evident, its diversified business portfolio and broader market movements often influence its performance. The stock experienced fluctuations throughout the day but closed with gains.
Cipla (Pharmaceuticals)
- Current Market Price: ₹1,487.90
- Percentage Change: +0.98%
- Reasons: Cipla, a pharmaceutical major, closed with gains, aligning with the overall positive performance of the Nifty Pharma sector. The stock is set to report its Q1 earnings tomorrow, and today's rise could be attributed to anticipation of favourable results, particularly from its domestic formulations segment, which is expected to show healthy growth.
Top Losers (with reasons)
Nestle (FMCG)
- Current Market Price: ₹2,322.10
- Percentage Change: -5.32%
- Reasons: Nestle India was a significant loser following the release of its Q1 FY26 results today. The company reported a 13.4% year-on-year drop in consolidated net profit, which fell to ₹647 crore, despite a 6% rise in revenue. The decline in profit was primarily attributed to increased operational costs, higher commodity prices, and costs associated with recent manufacturing expansions and borrowing needs.
Trent (Retail)
- Current Market Price: ₹5,154.00
- Percentage Change: -3.83%
- Reasons: Trent's share price declined significantly after a foreign brokerage downgraded the stock from "buy" to "neutral" and lowered its target price. The downgrade was based on a reduction in FY26 sales and earnings per share (EPS) estimates, citing a greater-than-expected impact from cannibalisation, particularly regarding its Zudio brand's market share expansion pace.
Shriram Finance (Financial Services - NBFC)
- Current Market Price: ₹633.55
- Percentage Change: -3.13%
- Reasons: Shriram Finance, despite being a top gainer yesterday, is among the top losers today. While specific reasons for today's sharp decline are not immediately detailed, the broader market's cautious sentiment, especially impacting financial services and NBFCs, and profit-booking after yesterday's gains could be contributing factors. The company also has a board meeting scheduled for tomorrow to consider and approve Q1 results, which might be leading to some pre-earnings caution.
Tech Mahindra (IT)
- Current Market Price: ₹1,498.60
- Percentage Change: -3.10%
- Reasons: Tech Mahindra was a notable decliner, contributing to the overall weakness in the Nifty IT index. The IT sector generally faced pressure today due to disappointing Q1 results from several major IT companies and cautious global cues.
Reliance (Diversified Conglomerate)
- Current Market Price: ₹1,402.90
- Percentage Change: -1.52%
- Reasons: Reliance Industries saw its share price decline today. While the company recently reported its highest-ever quarterly profit for Q1 FY26, largely boosted by a one-time gain from a stake sale in Asian Paints, multiple brokerages have flagged underwhelming operational performance across its key segments like Retail and Oil-to-Chemicals (O2C). This, combined with profit booking, has weighed on investor sentiment.
Indian Economic Indicators
- RBI Decisions: The RBI recently released its Financial Inclusion Index (FI-Index) for March 2025, showing an improvement to 67 from 64.2 in March 2024.
- Inflation Numbers (June 2025):
- Consumer Price Index (CPI): All India CPI inflation rate stood at a low 2.10%.
- Wholesale Price Index (WPI): Annual rate of inflation was negative at (-) 0.13% for June 2025. The WPI Food Index decreased from 1.72% in May 2025 to (-) 0.26% in June 2025. India's low inflation rates provide policy headroom for the RBI, though a 10% surge in global crude oil prices could push CPI up by 0.20 percentage points.
Global Factors
- US Fed News: Conflicting statements from the US Federal Reserve regarding potential interest rate cuts created uncertainty in global markets.
- Global Geopolitical Factors: Growing trade protectionism, increased government intervention, heightened global competition, the intensifying AI race, and regional conflicts continue to contribute to uncertainty and volatility.
The market will likely remain highly data-dependent in the coming days.
Upcoming Economic Data
- Foreign Exchange Reserves: Data for July 18 on July 25, 2025.
- HSBC Services PMI (July Final): Expected on July 25, 2025.
- Industrial Production YoY (June): Scheduled for July 28, 2025.
- HSBC Manufacturing PMI Final (July): Expected on August 5, 2025.
- HSBC Composite PMI Final (July): Expected on August 5, 2025.
- RBI Interest Rate Decision: Scheduled for August 6, 2025.
- M3 Money Supply YoY (July 25): Expected on August 6, 2025.
Key Corporate Events Scheduled for Tomorrow (July 25, 2025)
- SAIL Q1 FY26 Results: Board meeting to approve unaudited standalone and consolidated financial results.
- Dividend Record Dates:
- 3M India Limited: Final dividend of ₹160 and special dividend of ₹375 (totaling ₹535) for FY 2024-25.
- Abbott India Ltd: Final dividend of ₹475 per share for FY 2024-25.
Thursday, July 24, 2025, was a challenging day for the Indian stock market, with both the Sensex and Nifty benchmarks closing in the red. The decline was attributed to mixed Q1 corporate earnings (particularly impacting the IT sector), persistent FII outflows (offset by robust DII buying), and significant regulatory changes (e.g., IEX shares plummeting due to market coupling approval).
On the macroeconomic front, India's low CPI and negative WPI inflation for June offered some comfort, but the potential impact of crude oil price volatility remains a concern. Mixed signals from the US Federal Reserve also contributed to global uncertainty. Looking ahead, investors will closely monitor upcoming economic data and corporate earnings, with technical levels suggesting a period of cautious consolidation.