Market Performance: Indices Turn Red Amid Global Tensions
Indian equity markets saw sharp selling pressure on July 31, with IT, metal, and realty stocks tumbling up to 4%.
- Sensex fell by 460 points, trading around 81,022
- Nifty slipped by 141 points, hovering near 24,714
- Sectoral indices dropped more than 1% each
The bearish sentiment followed two key developments:
- US President Donald Trump’s 25% tariffs and penalty on India
- The Federal Reserve’s FOMC keeping interest rates steady at 4.25%–4.5%
IT Sector Slide: Heavyweights Coforge, Wipro, Infosys Drag Down Nifty IT
The Nifty IT index dropped by 1%, sliding to 35,161, and snapping its two-day gaining streak.
Top Losers in Nifty IT:
- Coforge share price fell nearly 2%
- Wipro share price also declined around 2%
- Infosys, Mphasis, and Tata Consultancy Services (TCS) lost over 1% each
- Persistent Systems, Tech Mahindra, and HCL Tech were down with marginal losses
This consistent decline follows TCS’s recent announcement of major layoffs, triggering concerns across the IT sector.
Company-Wise Snapshot
Coforge Share Price
- Dropped nearly 2%
- Faces continued pressure from industry-wide slowdown signals
Wipro Share Price
- Declined by almost 2%
- Reacting in tandem with broader tech sentiment
Infosys Share Price
- Down by over 1%
- Struggling to gain traction amid global client uncertainties
Mphasis Share Price
- Slid more than 1%
- Joins the list of IT firms weighed down by demand softness
Tata Consultancy Services (TCS) Share Price
- Fell over 1%
- Recently initiated layoffs, shaking market confidence
Persistent Systems Share Price
- Recorded marginal losses
- Reflects broader IT index weakness
Tech Mahindra Share Price
- Marginally lower
- Reflecting subdued investor sentiment
HCL Tech Share Price
- Traded in the red with slight losses
- Follows industry peers in muted performance
Broader Market Reaction: Metal & Realty Stocks Also in Decline
Nifty Metal Index
- Fell nearly 1%, trading around 9,331
- Hindustan Copper plunged over 4%
- Other key losers: Adani Enterprises, NMDC, Hindustan Zinc, and Jindal Steel
Nifty Realty Index
- Dropped over 1%, standing at 907
- Sobha, Oberoi Realty, Phoenix Mills, and Raymond saw declines of up to 2%
- DLF, Prestige Estates, and Brigade Enterprises also ended in the re
Summary
IT stocks, including Coforge, Wipro, Infosys, TCS, Mphasis, Persistent Systems, Tech Mahindra, and HCL Tech, witnessed a broad-based fall on July 31. The slump followed Trump’s tariff imposition on India and uncertainty over global monetary policy.
With the Nifty IT index losing 1%, and other sectors like metal and realty extending their losses, investor caution remains elevated. The near-term outlook for tech stocks continues to be shaped by global developments and demand-side challenges.
