Realty index lost the most, shedding nearly 4.29 percent, whereas some buying interest was seen in selective pharma and FMCG stocks.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities:
Mumbai, July 28, 2025: Today, the benchmark indices continued to face selling pressure at higher levels. The Nifty ended 156 points lower, while the Sensex was down by 572 points. Among sectors, the Realty index lost the most, shedding nearly 4.29 percent, whereas some buying interest was seen in selective pharma and FMCG stocks. Technically, a bearish candle on daily charts and a lower top formation on intraday charts indicate further weakness from the current levels.
We are of the view that as long as the market is trading below 24,800/81100, the weak sentiment is likely to continue. On the downside, the market may correct until 24,550–24,500/80500-80350. On the upside, a break above 24,800/81100 could lead to a pullback rally extending up to 24,900/81400. Further upside may also continue, potentially pushing the market up to 25,000/81700.
Gaurav Garg, Lemonn Markets Desk, adds: “Indian equities extended their losing streak on Monday as the markets grappled with disappointing earnings, foreign outflows, and uncertainty surrounding the delayed India-U.S. trade agreement. The Sensex dropped over 500 points, while the Nifty slipped below the 24,700 mark, weighed down by weak results from Kotak Mahindra Bank, which tumbled 7% after posting a drop in profits. Sectorally, media and realty led the decline, down 2–3%, while financials and private banks also remained under pressure. Adding to the cautious sentiment was TCS’s announcement of a 2% workforce reduction, dragging the Nifty IT index lower.
The broader market remained under pressure, with mid- and small-cap indices losing marginally. The prolonged delay in finalising a trade deal with the U.S., largely stuck over tariffs on agriculture and dairy has added to investor nervousness, especially as a deal with the EU was struck over the weekend. The weak earnings season and stretched valuations are keeping risk appetite muted. However, select counters like Apollo Microsystems, Mphasis and BEL bucked the trend, rising over 2% after reporting strong deal wins and stable results."
