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Informist, Monday, Jul. 28, 2025

By Gopika Balasubramanium

MUMBAI – The domestic benchmark indices fell for the third straight session on Monday and closed at a near-two-month low, weighed down mainly by weakness in financial services and information technology stocks. Some pharmaceutical and fast-moving consumer stocks fared better.

The Nifty 50 closed at 24680.90 points, down 156.10 points or 0.6%. Kotak Mahindra Bank was the biggest drag on the 50-stock index. The stock closed 7.4% lower at INR 1,966.60--a four-month low--after the bank's bottom line for the June quarter fell short of Street's expectations. Brokerages are cautious on the stock as the private sector bank's net interest margin fell much more than expected and its credit cost saw a steep rise. Only 15 Nifty 50 constituents closed the day higher. The BSE Sensex closed at 80891.02 points, down 572.07 points or 0.7%.

Broader market indices also saw selling pressure during Monday's session. Small-cap indices declined sharper than mid-cap indices. The Nifty Smallcap 250 and the Nifty Smallcap 100 closed 1.3% lower each. This was mainly due to 4-6% fall in Central Depository Services India, Brigade Enterprises, and Angel One. The Nifty Midcap 150 closed 0.9% lower. 

Apart from Kotak Bank, Bajaj Finance also declined sharply and closed down 3.6%. The stock is down for the third straight session after it posted modest June quarter earnings on Thursday . The stock has declined 9% in this period. Brokerages had raised concerns that Bajaj Finance's valuations were expensive, even when they had a positive outlook for its growth. 

Information technology stocks such as Wipro, Tata Consultancy Services, and HCL Technologies closed 1.6-3.5% lower. The stocks fell following reports that said TCS will likely terminate services of 12,000 mid- and senior-level employees or 2% of its global workforce in 2025-26 (Apr-Mar). Global brokerages Citi and Jefferies were cautious on the company's decision. 

Jefferies said the reduction in workforce may lead to near-term execution slippages and higher attrition in the long term, according to a report by CNBC-TV18. The brokerage noted that other IT majors who are unable to gain market share may also resort to layoffs.

Meanwhile, Shriram Finance was the top gainer among the Nifty 50 constituents. The company Friday reported a robust set of financial numbers for the June quarter. While some brokerages are cautious on the stock for the next few quarters as they see slowdown in gold loan and its micro, small, and medium enterprises portfolio, they are optimistic on future prospects. 

Cipla closed 2.6% higher after broking firms were bullish about the company's business. These views came after the company released its June quarter earnings during market hours Friday, posting on-year growth in its net profit and revenue from operations. Nuvama Institutional Equities raised the target price for Cipla to INR 1,651 from INR 1,620 and retained its 'hold' view on the stock. The broking firm said the management's comments were "encouraging".

Among sectoral indices, the Nifty Realty closed 4.1% lower. The sectoral index is down for the fifth straight session and fell 10% during this period. Monday's fall is mainly due to a 5-6% fall in Lodha Developers and Godrej Properties. Lodha Developers, previously Macrotech Developers, closed 6% lower despite upbeat earnings for the June quarter.  

Other sectoral indices--Nifty Pharma, Nifty FMCG, and Nifty Healthcare--closed higher. The Nifty Pharma closed up 0.4% due to sharp gains in shares of Laurus Labs and Cipla. Shares of Laurus Labs closed 6.2% higher, having risen 8% to hit a record high of INR 901.50 intraday. The company's shares gained after it said it will invest over INR 56 billion to set up a manufacturing unit in Andhra Pradesh. The state government Sunday allotted 531.77 acres to the company.

Among other stocks, ACME Solar Holdings closed 8.8% higher. The stock rose 10% to an intraday high of INR 297.48 after the company's consolidated net profit and revenue both jumped on a year-on-year basis in the June quarter. SBI Cards and Payment Services closed nearly 6% lower. Shares of the company fell after its net profit for the June quarter fell on year and was below analysts' estimates. 

* Of the Nifty 50 stocks, 15 rose, 34 fell and one unchanged 

* Of the Sensex stocks, 9 rose and 21 fell

* On the NSE, 811 stocks rose, 2,211 fell, and 67 were unchanged

* On the BSE, 1,256 stocks rose, 2,881 fell, and 162 were unchanged

* Nifty Realty: down 4.1%; Nifty Media: down 2.7%; Nifty Pharma: up 0.4%.

BSE                                               NSE

Sensex: 80891.02, down 572.07 points or 0.7%      Nifty 50: 24680.90, down 156.10 points or 0.6%

End

Edited by Tanima Banerjee

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