Sensex and Nifty Trade Sideways Amidst IEX and Coforge Stock Plunge: Latest Market Developments
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Indian stock markets experienced a day of subdued trading on Thursday, July 24, 2025, with both the Sensex and Nifty trading in a narrow range. Investors reacted to the June quarter results of major companies, including Infosys, Dr. Reddy's Labs, IEX, Coforge, and Tata Consumer Products.

At the time of this update, the BSE Sensex was trading at 82,611, down 116 points or 0.14 percent, while the Nifty50 was at 25,207, down 13 points or 0.05 percent.

Key Gainers and Losers

The Nifty IT index was the top loser, declining by 1 percent due to weakness in Coforge, Persistent Systems, Infosys, LTIMindtree, and TCS. Top Nifty losers included Trent, Kotak Bank, Ultratech Cement, Bajaj Finance, Axis Bank, TCS, Infosys, Reliance Industries, Coal India, ICICI Bank, and SBI.

Stocks in Focus

  • IEX (Indian Energy Exchange): IEX shares tanked 10% following concerns regarding the Central Electricity Regulatory Commission's (CERC) market coupling move. The DAM (Day Ahead Market) market coupling is scheduled to go live in January 2026, with other market segments to follow.
  • Coforge: Despite stellar Q1FY26 results, Coforge shares also saw a decline of 5%. The company reported a 138.4% year-on-year jump in profit after tax to ₹317 crore. Revenue rose 54.5% YoY in USD terms to $442 million, and EBITDA stood at $77.3 million, up 50.1% YoY. Coforge secured $507 million in total contract value during the quarter and announced an interim dividend of ₹4 per share.
  • Infosys: Infosys Q1 results revealed that profits beat estimates, zooming 9% YoY to ₹6,921 crore, with revenue up 8%.

Other Key Developments

  • VA Tech Wabag: Secured a USD 272 million (Rs 2,332 crore) order from the Saudi Water Authority to build a 300 million litres per day (MLD) sea water reverse osmosis (SWRO) desalination plant in Yanbu, Saudi Arabia.
  • Mindspace REIT: Announced the acquisition of 100% equity in Mack Soft Tech Pvt Ltd, owner of the 0.81 million sq ft Q-City commercial property in Hyderabad's Financial District, for ₹511.8 crore.
  • Aurum Proptech: To acquire 100% stake in PropTiger for ₹86.45 crore via an all-stock deal.
  • Natco Pharma: To acquire a 35.75% stake in Adcock Ingram for ₹2,000 crore and set up a South Africa subsidiary with ₹2,100 crore investment.

Global Market Cues

Global sentiment remained subdued, with European markets trading lower. The DAX in Germany fell by 1.20%, and the STOXX 50 lost 0.86%, reflecting concerns about growth and earnings in the region. U.S. futures were largely flat to negative, suggesting weak momentum heading into the next trading session. Wall Street settled higher with the Nasdaq Composite gaining 0.61 percent to settle at 21,020.02, marking its first-ever close above the 21,000 mark.

FII and DII Activity

Foreign Institutional Investors (FIIs) have been net sellers in Indian equities in July 2025, pulling out ₹1,446 crore in the first half of the month. Domestic Institutional Investors (DIIs) have remained net buyers, absorbing much of the selling pressure.

Overall, the Indian stock market is exhibiting caution as investors digest corporate earnings and monitor global cues. Sector-specific actions, regulatory developments, and foreign investment trends are influencing market movements.


Writer - Devansh Reddy
Devansh Reddy is a driven journalist, eager to make his mark in the dynamic media scene, fueled by a passion for sports. Holding a recent journalism degree, Devansh possesses a keen interest in technology and business innovations across Southeast Asia. He's committed to delivering well-researched, insightful articles that inform and engage readers, aiming to uncover the stories shaping the region's future. His dedication to sports also enriches his analytical approach to complex topics.
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