Indian equity markets opened in the red on Monday, weighed down by sustained pressure on IT and real estate stocks. At 9:29 am, the Sensex dropped 242 points (0.30%) to 81,220, while the Nifty fell 63 points (0.26%) to 24,773.
Sectorally, Nifty IT and Nifty Realty led the losses, slipping 0.61% and 2.75%, respectively. The Nifty Bank index was also down by 0.28% to 56,384.
Friday&rsquo;s selloff had pushed the Nifty 50 below its support level of 24,900, closing at 24,837. Analysts noted weak global cues and disappointing corporate earnings as key triggers.
&ldquo;A decisive close above 25,150 is crucial for a bullish reversal. Until then, the market remains sideways to bearish,&rdquo; said Mandar Bhojane of Choice Equity Broking.
Gainers in early trade included Paytm, Cyient, RBL Bank, and IGL, while IEX plunged 6.84% and Kotak Mahindra Bank fell 6.18%. Other notable losers were Lodha Developers, SBI Cards, and CDSL.
TCS&rsquo;s decision to cut 2% of its global workforce has intensified pressure on IT indices. However, midcap IT stocks remain attractive due to robust growth potential, said VK Vijayakumar of Geojit Financial Services.
FIIs remained net sellers, dumping equities worth ₹30,508 crore in July, while DIIs bought ₹39,825 crore, offering some support.
Globally, Asian markets were mixed. Japan&rsquo;s Nikkei slipped 0.74%, Korea&rsquo;s Kospi fell 0.11%, while Shanghai and Hong Kong traded higher. US markets ended higher overnight, with the Dow up 0.47%.
[Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed.]
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Markets open lower; Nifty IT drops 0.61%, realty 2.75% amid global, earnings pressure

Market Falls as IT Stocks Lead Market Decline

Markets open lower; Nifty IT drops 0.61%, realty 2.75% amid global, earnings pressure

July 28, 2025 | 16:07 IST