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Profit Booking or Panic? Nifty IT’s 1.2% Drop Sparks Sector Rotation Talk

Updated: July 24, 2025 09:49

Image Source : HDFC Sky
India’s Nifty IT index fell 1.2 percent on July 24, extending its losing streak as investors continued to book profits in heavyweight tech counters. The decline reflects broader concerns over global demand, earnings volatility, and sector rotation.
 
Sector Snapshot
 
- The index closed at 37,244.45, down 416.25 points from the previous session.
 
- Major laggards included Tech Mahindra, Wipro, Infosys, TCS, HCL Tech, LTIMindtree, and Persistent Systems—all down over 1 percent.
 
- Oracle Financial Services, Persistent Systems, and Coforge were the few gainers, posting marginal upticks.
 
Market Sentiment
 
- Analysts attribute the fall to weak earnings guidance, cautious commentary from global IT majors, and valuation concerns.
 
- The sector has now corrected nearly 5 percent over the past month and 13.9 percent over six months.
 
- Broader indices also traded mixed, with Nifty 50 and Sensex showing limited movement.
 
Sources: Economic Times, Business Standard, Trendlyne.

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