September 24, 2025 — The Indian stock market came under pressure in Wednesday’s midday trade. The Nifty 50 slipped to 25,057.75, while the Sensex was down about 348 points at 81,753. The fall was led mainly by IT sector weakness.
| Index / Metric | Level | Change |
|---|---|---|
| Nifty 50 | 25,057.75 | −105.35 (−0.42%) |
| Sensex | 81,753.20 | −348.12 (−0.42%) |
| Nifty Forward P/E | ~25.03× | Elevated |
Valuations Under Scrutiny
With the Nifty trading at around 25.03 times forward earnings, investors worry that valuations may be running too far ahead of actual company profits. At such high levels, even a small earnings miss could trigger sharp corrections.
IT Sector Pulls Markets Lower
The biggest drag today came from IT majors such as TCS, Infosys, HCLTech, and Wipro, which saw notable intraday declines. Investor concerns were fuelled by higher costs and pressure on U.S. client budgets, especially after the newly imposed $100,000 H-1B visa fee, which could hit margins and new project flow for Indian IT exporters.
Market Reaction & Technical Levels
Investor sentiment stayed cautious through the morning. Both domestic and foreign participants cut back positions.
- Nifty slipped below the key 25,200 support mark, which triggered further selling by short-term traders.
- Sensex hovered near 81,750, losing close to 350 points at the time of writing.
Risks Ahead
- Earnings mismatch: High valuations leave little room if corporate results fall short.
- Global policy shocks: Changes in U.S. visa or trade rules can directly hit IT firms.
- Cost pressures: Inflation, currency swings, and supply chain costs could reduce margins.
- Valuation fatigue: With P/E already stretched, further upside depends on real earnings growth.
Outlook
Markets are at a tricky stage — optimism is high but so are risks. For indices to hold up:
- Q2 earnings from IT companies will be crucial.
- Foreign fund flows must remain steady to support benchmarks.
- Global cues like U.S. rate decisions and dollar trends will need watching.
If results disappoint, Nifty and Sensex may drift lower. But if companies manage to deliver, markets could stabilize and possibly bounce back.
