The Indian stock market concluded Monday, July 28, 2025, on a notably subdued note, extending its losing streak for the second consecutive trading session. Investor sentiment remained cautious amidst a confluence of domestic corporate earnings reports and significant global developments. The day was characterised by a broad-based sell-off, with key indices registering considerable declines, while some sectors demonstrated resilience, indicating a clear shift in investment preferences.
This daily wrap-up provides a simple overview of the Indian stock market today, detailing key movements, top stock market news, FII DII activity, and the stock market outlook India for the coming week.
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
- Final Takeaway – Summary of Stock Market Day
The Indian benchmark indices experienced a significant downturn on Monday, July 28, 2025, extending their losing streak for the third consecutive session.
The 30-share BSE Sensexdeclined by 572.07 points, or 0.70%, to close at 80,891.02. This considerable drop contributed to investors losing an estimated ₹4 lakh crore in a single day, with over ₹12 lakh crore eroded from investor wealth in the last three sessions.
TheNSE Nifty 50 followed suit, going down by 156.10 points, or 0.63%, to settle below the crucial 24,700 mark at 24,680.90. The market breadth was overwhelmingly negative, with 2,211 stocks declining against 811 advancing on the NSE.
The sell-off was primarily driven by heavy Foreign Institutional Investor (FII) selling, weak corporate earnings, particularly from banking and IT sectors (Kotak Mahindra Bank plunged over 7% and TCS announced a 2% workforce reduction), and persisting concerns over India-US trade talks. The India VIX, a measure of market volatility, also surged nearly 7%, indicating increased nervousness among traders.
The market on July 28, 2025, showcased a stark divergence in sectoral performance, with some segments facing severe pressure while others demonstrated relative strength.
Underperforming Sectors:
Nifty IT
- The Nifty IT index extended its losing streak with a significant decline of 0.71%, largely influenced by major news from top IT firms. TCS announced plans to reduce its global workforce by approximately 2% (12,200 employees) during FY26. This move is attributed to a growing skills gap and shifts in technology, specifically impacting middle and senior roles. The decision follows recent internal policy changes at TCS, which now require employees to maintain a minimum of 225 billable days per year and cap time spent on the bench at 35 days. Other IT giants, including Infosys and Tech Mahindra, also experienced losses of over 2% on the same day.
Nifty Realty
- The Nifty Realty index was particularly hard hit, closing down 4.07% at 911.90 points. This sector emerged as the top loser for the day, reflecting persistent headwinds driven by concerns around elevated borrowing costs and input inflation.
Other Key Sectors
- Nifty Media: It dropped 2.70% to 1,624.50 points.
- Nifty Private Bank: It fell 1.65% to 27,148.25 points.
- Kotak Mahindra Bank: Its share price sank 7.34% to ₹1968.70. The muted Q1 show and squeeze in margins are also cited as reasons.
- Nifty Metal: It tracked negative performance, with a decline of 1.15% (to 9316.45).
- Nifty Pharma: It saw marginal gains of 0.43% (to 22761.15), consistent with being the only major sectoral index in the green.
Outperforming Sectors (and those that tried)
While the broader market experienced significant declines across most sectors, a few indices demonstrated relative resilience or made attempts at positive gains, even if they ultimately closed in the red.
Nifty Auto
- The Nifty Auto index, despite early fluctuations and intraday gains, ultimately closed down 0.37% at 23,693.00 points. It opened at 23,777.70 and reached an intraday high of 23,981.60 before succumbing to the broader market pressure and declining.
Nifty FMCG
- The Nifty FMCG index showed resilience, rising by 0.28%, closing at 54,732.95 points. It opened at 54,593.75 and reached a high of 55,050.25 during the session, demonstrating strength against the general market downturn.
Nifty Oil & Gas
- The Nifty Oil & Gas index, contrary to an initial expectation of a rise, actually closed down by 0.29% at 11,323.70 points. While it had an intraday high of 11,479.85, it could not sustain the gains. The notion of all 15 constituents trading in the green earlier in the day did not hold until the close, as the sector itself ended in negative territory for the day.
Several key domestic and global events significantly influenced market movements on July 28, 2025.
Domestic News and Impact
The ongoing first-quarter (Q1) earnings season continued to be a primary catalyst for stock-specific and sectoral movements on July 28, 2025.
Companies Scheduled to Announce Results on or around July 28-31, 2025:
- Adani Green Energy: Announced Q1 FY26 results with a significant 31% year-on-year jump in consolidated net profit to ₹824 crore, and revenue also grew by 31% to ₹3,312 crore. This strong performance would likely benefit its share price.
- Adani Total Gas: Announced Q1 FY25 results (the prompt mentions Q1 FY26, but the available data is for Q1 FY25) with a 20% increase in Profit After Tax (PAT) to ₹177 crore (standalone) and 14% increase in consolidated PAT to ₹172 crore. Revenue increased by 9%. Volume was up by 17%.
- Bharat Electronics (BEL): Reported 22% year-on-year profit growth and 15% YoY revenue growth for Q1 FY26. Despite strong figures, the share price declined over 2% (specifically 2.58%) on July 28, reaching an intraday low of ₹383.30, reflecting investor caution.
- IndusInd Bank: Was expected to announce Q1 earnings on July 28, with profit seen falling up to 91% year-on-year due to elevated provisioning and MFI stress. The stock was in focus.
- Larsen & Toubro (L&T): While the main L&T Q1 results were awaited, its subsidiary L&T Technology Services (LTTS) announced a $60 million software deal, which contributed to LTTS's share price gaining.
- Tata Steel, NTPC, Coal India, Eicher Motors, Hindustan Unilever (HUL), Mahindra & Mahindra (M&M), Maruti Suzuki, Titan Intech, and ITC: These companies were indeed scheduled to announce their Q1 results around this period.
- NTPC: Q1 FY26 results are scheduled for July 29, 2025.
- Coal India: Its Q1 FY25 production grew by 8%. The Q1 FY26 financial results were yet to be announced as of July 28, 2025.
- Eicher Motors: Its stock price showed volatility, with live updates on July 28 showing both small gains and declines throughout the day.
- Hindustan Unilever (HUL): Scheduled to release Q1 FY26 financial results on Thursday, July 31, 2025.
- Mahindra & Mahindra (M&M): Its financial services arm, M&M Financial Services, released its Q1 FY26 earnings transcript on July 28, showing a 21% disbursement growth in tractor lending business and overall steady collection performance.
- Maruti Suzuki: Its share price also showed intraday fluctuations on July 28, with minor gains and declines throughout the day.
- ITC: Scheduled to declare Q1 results on August 1, 2025.
- Tata Steel: Scheduled to declare Q1 results on July 30, 2025.
Specific Impacts from Announced Results/News:
- Kotak Mahindra Bank: Shares of the bank plunged by 7.34%, opening with a gap-down at ₹2,025.30 and slipping to an intraday low of ₹1,977.00. This followed its report of a 6.76% year-on-year decline in standalone net profit to ₹3,282 crore for Q1 FY26, falling short of investor expectations.
- TCS (Tata Consultancy Services): Share prices came under pressure, declining by nearly 2% (specifically 0.71% for the Nifty IT index), after the company announced plans to lay off approximately 12,200 employees (2% of its workforce) in FY26 due to a skills gap and shifts in technology, impacting middle and senior roles.
- IDFC First Bank: The stock experienced an initial dip but then inches up slightly (around 0.4%) despite the bank reporting a 32.1% decline in net profit to ₹462.6 crore for Q1 FY26. Investors were assessing the outlook amid improving deposit momentum.
- Bajaj Finserv: The prompt suggested an upward movement, but Bajaj Finance (a related entity within the group) actually saw its shares decline by -0.12% to -0.54% throughout July 28, based on live market updates. The search results did not explicitly provide Bajaj Finserv's Q1 FY26 results or its stock movement for July 28.
- Tata Communications: The company faced pressure after receiving a substantial ₹7,800 crore notice from the Department of Telecom for adjusted gross revenue (AGR) dues.
- Adani Energy (Adani Green Energy): Its share price jumped over 3% after it announced strong Q1 FY26 results, with profit increasing by 31%. The announced plans to expand its commercial and industrial (C&I) segment tenfold were a positive long-term factor.
- SAIL (Steel Authority of India): Shares fell almost 3% (exact impact not specifically detailed for Q1 results on July 28, but implied by market sentiment for steel sector).
- Whirlpool India: Shares declined by over 1% (exact impact not specifically detailed for Q1 results on July 28, but implied by market sentiment).
- Lodha Developers: Saw a sharp intraday drop of over 3% (reaching a day low of ₹1,191.35) on July 28, despite reporting a strong 42% year-on-year increase in Profit After Tax (PAT) for Q1 FY26 and a 23% revenue increase. This decline was likely due to broader pressure on the realty sector.
The Q1 earnings season continued to introduce substantial stock-specific and sectoral volatility. Disappointing results, particularly from market heavyweights, disproportionately dragged down indices, while strong results provided selective buying opportunities.
Beyond earnings, a flurry of corporate actions was also scheduled. Over 100 companies were set to declare record dates for various corporate actions, including dividends, rights issues, stock splits, and bonus shares. Notable names scheduled to determine record dates for dividend payouts included DLF, KPIT Technologies, Wipro, Bosch, Eveready Industries, Inox Wind, Punjab & Sind Bank, Coforge, Prataap Snacks, Bata India, City Union Bank, Eicher Motors, Marico, Maruti Suzuki India, REC, and United Spirits.
Additionally, GTV Engineering was set to fix its record date for a stock split and 2:1 bonus issue, and Indian Infotech & Software and Jonjua Overseas had record dates for rights and bonus issues, respectively, on July 28.
Global News and Influence
US-EU Trade Deal: The US and EU indeed reached a framework trade agreement. This deal sets a 15% baseline import tariff on most European goods, which became effective on August 1, 2025. This agreement was announced by US President Donald Trump and European Commission President Ursula von der Leyen, replacing a previously threatened 30% tariff.
While this move averted a full-blown transatlantic trade war and contributed to optimism and higher closes in US markets, its impact on Asian markets remained mixed. The deal also includes the EU's commitment to purchase significant amounts of American energy products and increase investments in the US.
Crude Oil Prices: Crude oil prices saw a slight increase on July 28, 2025.
- Brent crude futures gained, with prices reported at $68.74 a barrel (up 0.4%) by 0813 GMT, and later hitting $68.82 or $69.09 according to different reports during the day.
- US West Texas Intermediate (WTI) crude also rose, reaching $65.43 a barrel (up 0.4%). This uptick was indeed influenced by the optimism surrounding the US-EU trade deal. Concerns around EU sanctions on Russian oil impacting India's Nayara Energy were a significant ongoing factor, creating supply chain uncertainties. These sanctions, specifically targeting Nayara Energy due to its ties with Russian oil major Rosneft, aimed to isolate the refinery from the European distillate market. This has led to reports of shipping operators distancing themselves from Nayara and an Indian-origin captain facing sanctions. India has condemned these unilateral sanctions.
US Federal Reserve Meeting (July 30): The upcoming US Federal Reserve policy announcement on July 30, 2025, remained a key focus. The Federal Reserve is widely expected to hold interest rates steady for a fifth consecutive meeting, with the current federal funds rate target range at 4.25%-4.50%.
A dovish tone from the Fed, or indications of future rate cuts, could provide the Reserve Bank of India (RBI) with more comfort to ease rates without risking the rupee's stability. Conversely, if the Fed maintains a cautious stance and holds its rates due to concerns like tariff-induced inflation, the RBI will likely mirror that caution to avoid capital outflows and currency volatility. This demonstrates a clear cause-and-effect relationship where global monetary policy significantly constrains domestic policy.
Global Volatility: Overall, global markets remained volatile, underscoring the importance for investors to track company-specific developments closely. The interplay of trade policies, geopolitical tensions, commodity prices, and central bank decisions continued to shape the investment landscape.
The movements of Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) remained critical indicators of capital flows and market sentiment in India on July 28, 2025.
Trends in Foreign Institutional Investor (FII) Activity:
Foreign Institutional Investors (FIIs) continued their selling spree on July 28, 2025, extending a trend observed throughout July. On July 25, 2025, FIIs were net sellers, offloading shares worth ₹1,979.96 crore across NSE, BSE, and MSEI combined. This aligns with a broader trend in July, where FIIs have been net sellers in 14 out of 19 trading sessions. As of July 25, 2025, FIIs had a total net outflow of ₹28,528.70 crore from the Indian secondary stock market in the cash segment for July. Their cautious approach is attributed to several factors:
- Tepid start to the Q1 earnings season: Disappointing corporate earnings from key companies, particularly in FII-heavy sectors like IT and private banks (e.g., TCS and Kotak Mahindra Bank), have led to profit booking.
- Valuation concerns: India's equity market is perceived to be trading at relatively high valuations compared to its historical averages and other emerging markets.
- Strengthening US dollar and rising US Treasury yields: These factors make dollar-denominated assets more attractive, drawing capital away from emerging markets like India.
- Global risk aversion and trade uncertainties: Lingering global trade tensions and a general "risk-off" sentiment have also impacted FII flows.
- Preference for debt: FIIs have shown a preference for Indian debt instruments, with inflows into debt partially offsetting outflows from equities.
Domestic Institutional Investor (DII) Flows:
In contrast to FII activity, Domestic Institutional Investors (DIIs) continued to provide crucial support to the Indian markets, actively absorbing the pressure from persistent FII selling. On July 25, 2025, DIIs emerged as net buyers, purchasing shares worth ₹2,138.59 crore across NSE, BSE, and MSEI combined.
DIIs have consistently remained net buyers since August 2023. In July so far (as of July 25, 2025), they have purchased a substantial ₹44,912.3 crore worth of Indian equities, significantly offsetting FPI outflows. The first half of calendar year 2025 (CY25) witnessed DIIs buying stocks worth ₹3.57 lakh crore, marking the strongest-ever half-yearly inflows. This strong local inflow is driven by:
- Robust retail investor participation: A growing number of Indian retail investors are channelling their savings into mutual funds and direct equity, contributing to DII inflows.
- Long-term growth story of India: DIIs are making long-term bets on India's economic growth fundamentals.
- Cushioning market during sell-offs: Their consistent buying provides stability and resilience to the market amidst foreign selling.
Impact on Market Sentiment:
The continued FII outflows, particularly evident throughout July, have been a significant overhang on the market, contributing to downward pressure on benchmark indices. However, the robust and consistent buying by DIIs has largely cushioned the Indian market from sharper declines, demonstrating growing confidence in domestic investment institutions.
This dynamic has been critical in maintaining market stability and preventing a more severe downturn. The sustained DII inflows indirectly reflect the growing participation and confidence of Indian retail investors, fostering long-term market growth and stability and marking a significant shift in who holds the reins in the Indian equity market.
The primary market remained active on July 28, 2025, with key IPO closures and upcoming listings generating considerable market buzz.
Key IPOs and Listings of the Day
- Brigade Hotel Ventures IPO: The three-day subscription window closed on July 28, 2025. The ₹759.6 crore issue received a rather muted response with an overall subscription of only 1.42 times (retail 5.48 times, NIIs 1.23 times, QIBs 8%). The Grey Market Premium (GMP) stood at a marginal ₹1.5, suggesting an estimated listing gain of 1.67%. Allotment is expected on Tuesday, July 29, 2025, with tentative listing on Thursday, July 31, 2025.
- Indiqube Spaces IPO: The share allotment status was expected to be finalised on Monday, July 28, 2025. This IPO received a strong overall subscription of 12.41 times (QIB 14.35 times, RII 12.90 times, NII 8.27 times). The GMP was ₹5 per share, suggesting an estimated listing premium of 2%. Shares are scheduled to be credited to demat accounts on Tuesday, July 29, 2025, and are set to list on Wednesday, July 30, 2025.
- GNG Electronics IPO: Allotment for GNG Electronics was also expected on July 28, with its listing planned for Wednesday.
The IPO market is acting as a counterpoint to secondary market valuations, driven by selective institutional interest. FIIs are net sellers in the secondary market but simultaneously net buyers in the primary market (IPOs) due to lower valuations. The divergence in QIB interest highlights highly selective institutional scrutiny. Despite overall market weakness, retail investors showed sustained enthusiasm in IPOs, driven by the prospect of immediate listing gains.
Upcoming IPOs in the Next Few Days
The Indian IPO market is gearing up for a particularly busy week, with 14 companies scheduled to launch initial public offerings across both mainboard and SME platforms, collectively aiming to raise over ₹7,000 crore.
Mainboard IPOs:
- NSDL (National Securities Depository Ltd): A significant ₹4,012 crore IPO, entirely an offer for sale, is set to open on Wednesday. It is priced in the range of ₹760–₹800 per share.
- Aditya Infotech: A ₹1,300 crore IPO opening on Tuesday, with a price band of ₹640–₹675 per share.
- Laxmi India Finance: An NBFC, this ₹254 crore issue opens on Tuesday, priced at ₹150-158 per share.
- Sri Lotus Developers: A real estate company, this ₹792 crore IPO begins subscription on Wednesday, with a price band of ₹140-150 per share.
SME IPOs: A range of SME IPOs, with issue sizes from ₹20 crore to ₹130 crore, are scheduled to hit Dalal Street. These include Kaytex Fabrics, Renol Polychem, Cash Ur Drive, Mehul Colours, Takyon Networks, M&B Engineering, BD Industries, Umiya Mobile, Repono, and Flysbs Aviation.
Upcoming Listings:
- Mainboard: Indiqube Spaces is set to debut on Wednesday, GNG Electronics plans its BSE and NSE listing for Wednesday, Brigade Hotel Ventures is scheduled for BSE and NSE listing on Thursday, and Shanti Gold International's BSE and NSE listing is planned for Friday.
- SME: Several SME listings are also scheduled for the upcoming week, including Savy Infra, Swastika Castal, Monarch Surveyors, TSC India, Patel Chem Specialities, Shree Refrigerations, and Sellowrap Industries.
The pipeline of upcoming IPOs reflects strategic growth areas of the Indian economy, such as financial infrastructure, technology, and inclusive finance, offering investors opportunities to participate in long-term structural growth themes.
The Indian stock market on July 28, 2025, saw significant movements in individual stocks, with some registering notable gains while others experienced sharp declines, largely influenced by their Q1 earnings and broader sectoral trends.
Top Gainers (Nifty 50 & Broader Market)
Shriram Finance (Financial Services)
- Current Market Price: ₹615.85
- Percentage Change: +2.86%
- Reasons: Shriram Finance emerged as a significant gainer today after reporting robust Q1 FY26 earnings. The company announced an 8.84% year-on-year (YoY) rise in standalone profit after tax (PAT) to ₹2,155.73 crore and a 12.55% increase in Net Interest Income (NII) to ₹6,026.43 crore. Total income rose by 20.11% to ₹11,541.76 crore, and Assets Under Management (AUM) saw a healthy jump of 16.62% YoY. The improved asset quality, with Gross Non-Performing Assets (GNPA) contracting to 4.53%, further bolstered investor confidence despite a slight decline in net interest margins. The strong financial performance, especially the AUM growth and profit figures, contributed to today's rally, indicating positive market sentiment.
Cipla (Pharmaceuticals)
- Current Market Price: ₹1,532.50
- Percentage Change: +2.58%
- Reasons: Cipla saw a strong gain, primarily driven by its Q1 FY26 earnings release. The pharmaceutical major reported a 10% year-on-year increase in consolidated net profit to ₹1,298 crore and a 4% increase in total revenue from operations to ₹6,957 crore. This solid performance was attributed to healthy growth in its "One India Business" and robust traction in its "One Africa" region. While North American business saw a slight decline due to pricing pressure, the overall positive results and strong operational execution, along with a focus on a differentiated portfolio and U.S. inhalation pipeline, fuelled investor interest and contributed to the stock's upward movement.
Hero Motocorp (Automobiles)
- Current Market Price: ₹4,230.70
- Percentage Change: +1.43%
- Reasons: Hero Motocorp gained today, showing a positive trend in the market. While specific major news for today's gain wasn't as prominent as earnings releases, the stock likely benefited from continued positive sentiment following recent analyst recommendations, with some maintaining "OVERWEIGHT" or "BUY" ratings. The company's previous quarterly financials (March 2025) showed a decent PAT growth, and the stock is also known for its attractive dividend yield. Positive momentum in the broader automobile sector or specific positive technical indicators may also have played a role in its upward movement.
HUL (FMCG)
- Current Market Price: ₹2,415.40
- Percentage Change: +1.08%
- Reasons: Hindustan Unilever (HUL) recorded a healthy gain today. While there was no immediate company-specific news released today explaining the exact intraday movement, the stock has been gaining traction due to consistent performance and investor confidence in its FMCG sector stability. Recent reports of a CEO transition (Priya Nair to take over from August 1, 2025) were met with optimism, signaling strategic continuity with fresh leadership. The stock's defensive characteristics in a sometimes volatile market, coupled with its consistent profitability and focus on growth in its diverse portfolio, likely contributed to its positive performance.
Asian Paints (Chemicals/Paints)
- Current Market Price: ₹2,336.20
- Percentage Change: +1.00%
- Reasons: Asian Paints closed with a gain today. This positive movement is particularly noteworthy as the company is set to release its Q1 FY26 financial results tomorrow, July 29, 2025. This anticipation of earnings is often a driver of pre-results buying. Despite a reported decline in consolidated revenue and net profit in Q4 FY25, investor sentiment might be focusing on the company's strategic initiatives, such as strengthening its institutional business, securing government approvals, and expanding into home décor. The recent recommendation of a final dividend of ₹20.55 per share for FY2025 also provides a positive signal to investors, suggesting a commitment to shareholder returns.
Top Losers (Nifty 50 & Broader Market)
Kotak Mahindra Bank (Banking/Financial Services)
- Current Market Price: ₹1,966.60
- Percentage Change: -7.44%
- Reasons: Kotak Mahindra Bank was the top loser today, primarily due to disappointing Q1 FY26 earnings. The bank reported flat growth in consolidated net profit at ₹4,472 crore, with standalone profit declining 7% year-on-year to ₹3,282 crore. This was largely attributed to higher-than-expected margin decline (Net Interest Margin shrinking 37 bps to 4.65%), increased credit costs due to a rise in slippages in Microfinance (MFI) and retail Commercial Vehicle (CV) segments, and lower fee income. Although higher trading gains and lower operating expenses provided some offset, the overall weak performance, particularly the asset quality concerns and pressure on core income, led to significant selling pressure and target price reductions by several brokerages.
Bajaj Finance (NBFC/Financial Services)
- Current Market Price: ₹880.50
- Percentage Change: -3.64%
- Reasons: Bajaj Finance saw a notable decline despite reporting a 22% year-on-year surge in standalone net profit to ₹4,133 crore for Q1 FY26. The fall was primarily driven by a downgrade from JP Morgan from "overweight" to "neutral," citing concerns about a pick-up in mortgage attrition, weakness in MSME loans, and continued softness in some parts of loan quality that could lead to negative revisions of its estimates. Although the company showed strong growth in Assets Under Management (AUM) (up 25% YoY) and new loans booked (up 23%), the slight uptick in Gross and Net NPAs (to 1.03% and 0.50% respectively) compared to the previous year, coupled with the downgrade from a major brokerage, weighed heavily on investor sentiment.
Wipro (IT Services)
- Current Market Price: ₹250.05
- Percentage Change: -3.53%
- Reasons: Wipro's shares fell significantly today, largely influenced by broader negative sentiment in the IT sector. This decline was triggered by Tata Consultancy Services (TCS) announcing plans to reduce its global workforce by 2% (around 12,000 jobs) due to weak discretionary spending and economic concerns. While Wipro's own Q1 FY26 results (released on July 21, 2025) showed a 9.9% YoY increase in PAT, revenue declined sequentially. The news of layoffs by a peer, combined with ongoing macroeconomic uncertainty impacting IT spending and margin pressures, dampened investor enthusiasm across the IT sector, causing Wipro to slide.
IndusInd Bank (Banking/Financial Services)
- Current Market Price: ₹802.05
- Percentage Change: -2.63%
- Reasons: IndusInd Bank experienced a decline today, continuing to face headwinds related to governance issues and leadership transition. The Reserve Bank of India (RBI) extended the tenure of the oversight committee managing the bank by another month (until August 28, 2025), as the lender seeks a successor to its outgoing MD and CEO. This extension, along with the lingering impact of previously disclosed accounting lapses in its derivatives portfolio (estimated at ₹1,960 crore financial implication), has kept investor sentiment subdued. Additionally, recent Q1 FY26 business updates indicated a sequential decline in net advances and deposits, reflecting ongoing stress and conservative lending decisions, further impacting the stock.
Bharti Airtel (Telecommunications)
- Current Market Price: ₹1,890.30
- Percentage Change: -2.46%
- Reasons: Bharti Airtel's stock dropped today, despite news of its data center subsidiary, Nxtra by Airtel, strengthening its partnership with AMPIN Energy for sourcing additional renewable energy. The immediate cause for the fall was not a specific negative company announcement for today. However, the stock has been trading with some volatility. Investors might be reacting to broader market corrections or profit-booking after previous gains. It's also possible that while the renewable energy partnership is a positive long-term development, the market might be anticipating the company's Q1 FY26 earnings announcement (due on August 5, 2025), leading to some pre-results caution or re-evaluation of valuations in the telecom sector.
The market's performance highlighted earnings-driven volatility and the potential for sectoral contagion from large-cap stocks. Kotak Mahindra Bank's substantial 7% plunge directly impacted the Bank Nifty. The day also revealed a divergence in large-cap versus mid/small-cap performance, suggesting a "stock-picker's market" where opportunities exist in specific segments despite overall market weakness.
Beyond direct stock movements, broader economic and geopolitical factors played a crucial role in shaping market sentiment on July 28, 2025.
RBI Decisions and Inflation Numbers
The Reserve Bank of India (RBI) is approaching its Monetary Policy Committee (MPC) meeting on August 6, 2025. While recent inflation data provides the RBI with room for further easing, the central bank may prefer a cautious stance.
- India's Consumer Price Index (CPI) inflation for June 2025 was reported at 2.10% year-on-year, marking a 77-month low and a significant decline of 72 basis points compared to May 2025.
- Food inflation, as measured by the Consumer Food Price Index (CFPI), also saw a sharp decline to -1.06% year-on-year in June 2025, the lowest since January 2019.
This decline was primarily attributed to a favourable base effect and lower prices for various food items. Despite inflation being well below the RBI's 4% target, India's economic growth remains under pressure, with the core sector growing by just 1.3% in Q1 FY26. The RBI's cautious approach, even with low domestic inflation, is a direct consequence of global interest rate differentials and the imperative to maintain rupee stability and prevent capital flight.
Crude Oil Updates
Crude oil prices saw a slight increase on July 28, 2025, with Brent crude futures gaining 0.34% to $68.67 a barrel and US West Texas Intermediate crude up 0.32% at $65.37 a barrel. This uptick was influenced by the US-EU trade deal. However, concerns stemming from EU sanctions on Russian oil impacting India's Nayara Energy highlight India's vulnerability to global geopolitical developments impacting energy supply chains.
US Fed News and Global Geopolitical Factors
The upcoming US Federal Reserve policy announcement on July 30, 2025, was a key influencing factor for global and Indian markets. While some Fed officials hinted at a possible rate cut, market expectations generally leaned towards maintaining the status quo or a cautious one-off cut. If the Fed adopts a decisively dovish tone, it could provide the RBI with more comfort to ease rates. Conversely, if the Fed holds its rates, the RBI will likely mirror that caution.
Beyond monetary policy, broader geopolitical factors also cast a shadow. India's economic relationship with China, particularly its reliance on Chinese imports, remains a point of vulnerability despite a more confrontational security stance.
As the market moves into July 29, 2025, several factors will be closely monitored by investors for cues on market direction and potential opportunities.
Upcoming Economic Data:
- Index of Industrial Production (IIP): The All India Index of Industrial Production (IIP) for June 2025 is scheduled for release on Monday, 28th July 2025. This will provide insights into industrial growth and manufacturing activity.
- HSBC PMI Data: The final HSBC Manufacturing PMI for July will be released on Friday, 1st August, followed by the final Composite and Services PMIs on Tuesday, 5th August. These will offer a comprehensive view of private sector activity.
- Foreign Exchange Reserves: Updates on India's Foreign Exchange Reserves will be available on Friday, 1st August.
- Bank Loan and Deposit Growth: Data on year-on-year bank loan growth and deposit growth for July will also be released on Friday, 1st August.
- IMF World Economic Outlook Update: Globally, the International Monetary Fund (IMF) will release its World Economic Outlook Update on Monday, 29th July, which could provide fresh perspectives on global growth and inflation forecasts, impacting sentiment.
The convergence of a busy corporate earnings calendar and significant economic data releases will serve as critical catalysts. The market, currently in a "wait-and-watch" mode with low volatility (India VIX at 10), is poised for a potential directional breakout as these fresh fundamental cues provide clarity on corporate health and broader economic momentum.
Earnings Season Trends:
The earnings season continues to be a significant market driver, with a busy calendar for the coming week.
- Approximately 71 companies are expected to declare their Q1 FY26 results on Monday, 28th July, including major names like IndusInd Bank, NTPC Green, GAIL, BEL, Waaree Energies, Adani Total Gas, and Torrent Pharma.
- Around 31 companies, including Kotak Mahindra Bank and Macrotech Developers, are slated to announce results on Saturday, 26th July.
- Further results are expected in early August, with companies like ABB India, Federal Bank, Medplus Health Services, Marico, Sona BLW Precision Forgings, and Stove Kraft scheduled to report on 2nd and 4th August.
Monday, July 28, 2025, proved to be a challenging day for the Indian stock market, marked by a decisive downturn across the board.
- The Sensex and Nifty recorded significant losses, closing down 0.88% and 0.90% respectively, with broader mid- and small-cap indices experiencing even steeper declines.
- Persistent selling by Foreign Institutional Investors (FIIs) was a major drag on sentiment, although strong buying from Domestic Institutional Investors (DIIs) provided some cushioning, preventing a more severe market collapse.
- Sectoral performance was largely negative, with IT, Financials, and Auto sectors facing considerable pressure, while defensive sectors like Pharmaceuticals and Healthcare showed resilience.
- Key news included mixed corporate earnings, with some heavyweights disappointing while others posted strong results, alongside specific company-related developments.
- Despite the day's weakness, positive underlying economic data, such as India's inflation moderating to multi-year lows in June, could offer long-term comfort and provide the Reserve Bank of India with policy flexibility.
As we move into the coming week, investors are encouraged to remain informed and exercise caution. The market is likely to react to a busy schedule of corporate earnings announcements and crucial economic data releases, both domestic and global, which will provide further clarity on the market's direction. Staying abreast of these developments and maintaining a balanced, data-driven approach will be key in navigating the evolving market landscape.