Stock Market Closing Bell 24 July 2025: Nifty Slips 180 pts, Sensex Falls 595 pts; PSU Banks Shine with CANBK, PNB, Bank of Baroda at Day High
By CapitalKeeper | Closing Bell | Indian Equity | Market Moves That Matter
🔔 Volatility Returns: Nifty Falls 180 pts; PSU Banks Defy Weak Market | 24 July 2025
Markets closed lower on 24 July 2025 with Nifty at 25,062.10 and Sensex down 595 pts. Despite broad selling, PSU banks like Canara Bank, PNB, and Bank of Baroda hit day highs. Global cues and technical insights here.
📊 Market Summary – 24 July 2025
| Index | Open | Close | Change |
|---|---|---|---|
| Nifty 50 | 25,243.30 | 25,062.10 | 🔻 -181.20 pts (-0.72%) |
| Bank Nifty | 57,316.60 | 57,060.05 | 🔻 -256.55 pts (-0.45%) |
| Sensex | 82,779.95 | 82,184.17 | 🔻 -595.78 pts (-0.72%) |
| Fin Nifty | 27,271.85 | 27,046.30 | 🔻 -225.55 pts (-0.82%) |
🧭 Market Recap – Selling Grips After Early Optimism
The Indian markets slipped sharply on Thursday after opening flat, dragged down by profit booking in heavyweight stocks and mixed global cues. Nifty fell nearly 180 points from the day’s open, while Sensex lost almost 600 points amid pressure in IT, energy, and select private banks.
PSU banks bucked the trend, with Canara Bank, Punjab National Bank, and Bank of Baroda hitting day highs, supported by strong credit growth guidance and Q1 earnings optimism.
🔍 Key Market Drivers
- Profit Booking Post Short Covering Rally: After Wednesday’s upside, traders trimmed long positions ahead of key earnings.
- Global Jitters: Mixed US tech earnings and weak European PMI data weighed on sentiment.
- PSU Bank Outperformance: CANBK, PNB, and Bank of Baroda rallied to day highs on sustained FII/DII accumulation.
- Weak IT & Energy: Infosys, TCS, and Reliance Industries dragged indices lower.
🌍 Global Market Cues
- US Markets: Futures trading slightly negative post mixed corporate earnings; Nasdaq remains volatile.
- European Equities: Declined as PMI data signaled slower economic activity.
- Asian Markets: Nikkei in green, Shanghai flat; overall risk sentiment cautious.
- Commodities: Brent crude around $82.50/barrel; gold steady near $2,390/oz.
- Currency: INR closed weaker at 83.74/USD on dollar strength.
📈 Sectoral Performance
🔼 Outperformers:
- PSU Banks: Strong rally with CANBK, PNB, and Bank of Baroda closing at day highs.
- FMCG: ITC and HUL showed resilience as defensive buying emerged.
🔻 Underperformers:
- IT: Infosys, TCS, Wipro extended declines amid muted Q1 commentary.
- Energy: Reliance and ONGC dragged index lower.
- Private Banks: Kotak and Axis Bank saw heavy profit booking.
📌 Notable Stock Highlights
- CANBK, PNB, Bank of Baroda – Surged to day highs, driven by strong earnings outlook and healthy loan growth guidance.
- Reliance Industries – Dropped 1% ahead of quarterly results.
- Infosys – Continued downward pressure post muted revenue outlook.
- ITC & HUL – Provided support to Nifty with mild gains amid defensive demand.
🔎 Technical Analysis
Nifty 50:
- Closed at 25,062, losing key 25,100–25,150 support zone.
- Next support: 24,950–24,900; resistance now shifts to 25,200–25,250.
Bank Nifty:
- Failed to sustain above 57,300; closed weak at 57,060.
- Support lies at 56,800–56,600; resistance at 57,400.
Fin Nifty:
- Dropped below 27,100; momentum favors downside toward 26,850.
- Resistance: 27,200 on upside.
Outlook for Next Session (25 July 2025)
The close near day’s lows signals potential continuation of weakness unless global cues improve. Traders should watch for support at 24,950 (Nifty) and 56,800 (Bank Nifty). Sustained buying in PSU banks may provide some cushion, but broader sentiment remains cautious.
CapitalKeeper View
Markets are consolidating amid earnings season volatility and global macro uncertainties. While PSU banks remain bright spots, IT and energy continue to weigh on indices. Traders should stay nimble and focus on sector rotation plays.
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