Taking Stock: Nifty below 24,700, Sensex down 572 pts; realty, media worst hit

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Indian benchmark indices start the week on a negative note, ending lower on the third consecutive session on July 28 with Nifty falling below 24,700 for the first time since June 13.

Despite supportive global markets, the Indian market opened weak with Nifty below 24,800, however, initial hours recovery failed to build on and extended selling in the mid-session dragged the Nifty below 24,700 amid selling across the sectors barring pharma.

At close, the Sensex was down 572.07 points or 0.70 percent at 80,891.02, and the Nifty was down 156.10 points or 0.63 percent at 24,680.90. BSE Midcap index shed 0.7 percent and smallcap index fell 1.3 percent.

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Shriram Finance, Cipla, Hero MotoCorp, HUL, SBI Life were among major gainers on the Nifty, while losers were Kotak Mahindra Bank, Wipro, Bajaj Finance, Bharti Airtel, IndusInd Bank.

Except pharma, all other sectoral indices ended in the red with realty index plunged 4 percent, media index shed nearly 3 percent, capital goods, metal, telecom, PSU bank, private bank indices declined 1-1.5 percent.

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In stock specific action, Amber Enterprises shares rose nearly 3 % as it acquired Israel's Unitronics for Rs 404 crore, CDSL shares tumbled 6% as Q1 profit fell, EBITDA margin contracts 960 basis points, Laurus Labs shares jumped 6% on strong Q1 results, Kotak Mahindra Bank shares shed 7% on muted Q1 show, Aadhar Housing stock had hit record high after strong Q1 results, TCS declined nearly 2 percent as the company is slashing 2 percent of its workforce.

Index	Prices	Change	Change%
Sensex	84,466.51	595.19	+0.71%
Nifty 50	25,875.80	180.85	+0.70%
Nifty Bank	58,274.65	136.50	+0.23%

Nifty 50 25,875.80 180.85 (0.70%)

Wed, Nov 12, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Adani Enterpris	2,484.50	117.70	+4.97%

Biggest Loser	Prices	Change	Change%
Tata Steel	178.61	-2.43	-1.34%

Best Sector	Prices	Change	Change%
Nifty IT	36855.40	738.50	+2.04%

Worst Sector	Prices	Change	Change%
Nifty Metal	10542.50	-16.60	-0.16%

More than 100 stocks touched their 52-week highs on the BSE, including Laurus Labs, Aadhar Housing, Global Health, Nuvoco Vistas, UPL, Torrent Pharma, Fortis Health, Shyam Metalics, among others. Click to View More

Outlook for July 29

Rupak De, Senior Technical Analyst at LKP Securities

Once again, bears ruled the day as the Nifty fell below 24,700 amid rising weakness in the market. During the session, the index faced resistance around the 50-EMA and remained below it until the close.

The RSI continues to support the bears with its negative crossover. In the short term, the index may remain under pressure, with a possibility of slipping towards 24,550. On the higher end, resistance is seen at 24,800 and 24,950.

Ajit Mishra – SVP, Research, Religare Broking

Markets remained under pressure and declined over half a percent, extending the ongoing corrective phase. After an initial dip, the Nifty attempted to recover, but sharp selling in Kotak Bank following its earnings and continued weakness in select heavyweights from the telecom and IT sectors dragged the index lower as the session progressed. As a result, the Nifty slipped below its immediate support level of 24,700 and eventually settled at 24,680.90. Most sectors ended in the red, with realty, metal, and banking emerging as the top losers. The broader indices also came under pressure, shedding between 0.90% and 1.33%.

Markets are currently grappling with headwinds on both domestic and global fronts. On the domestic side, earnings disappointments and persistent foreign fund outflows are dampening sentiment. In the banking space, earlier resilience had helped limit the decline; however, renewed pressure across the sector—except for heavyweights ICICI Bank and HDFC Bank—is adding to participants’ concerns. Globally, uncertainty surrounding trade deals, despite strength in the US markets, is contributing to the cautious approach.

We now view the 24,450–24,550 zone as a critical support area, while the 24,900–25,000 range is likely to act as a resistance zone in case of a rebound. Traders should maintain a cautious stance and adjust their positions accordingly.

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