On October 28, 2024, the Indian stock market experienced notable shifts, with Shriram Finance and Bandhan Bank standing out as remarkable gainers while Coal India and Interglobe Aviation faced considerable declines. This article delves into the day’s performance across major indices, highlighting both the top performers and those that faltered.
Overall Market Performance
The trading day reflected a positive momentum in the market. The Sensex surged, closing at 79,402.29, marking a rise of 602.75 points, or 0.76%. During the trading session, the index oscillated within a range from 79,418.82 to 80,539.81. Similarly, the Nifty also saw an upward trajectory, finishing at 24,180.8, a gain of 158.35 points or 0.65%, with fluctuations from 24,134.9 to 24,492.6.
Notably, the Nifty Midcap 50 outperformed the Nifty 50, registering an increase of 0.81%, while small-cap stocks followed suit, as evidenced by the Nifty Small Cap 100‘s rise of 1.2%.
Nifty Index Highlights
Top Gainers
| Stock | Change (%) |
|---|---|
| Shriram Finance | 5.39% |
| Adani Enterprises | 3.91% |
| ICICI Bank | 2.98% |
| Eicher Motors | 2.81% |
| Wipro | 2.79% |
Top Losers
| Stock | Change (%) |
|---|---|
| Coal India | -4.22% |
| Bajaj Auto | -1.91% |
| Axis Bank | -1.49% |
| Kotak Mahindra Bank | -1.07% |
| Hero Motocorp | -0.91% |
Sensex Index Insights
Top Gainers
| Stock | Change (%) |
|---|---|
| ICICI Bank | 2.96% |
| Wipro | 2.87% |
| Tata Steel | 2.50% |
| Mahindra & Mahindra | 2.36% |
| Sun Pharmaceutical Industries | 2.28% |
Top Losers
| Stock | Change (%) |
|---|---|
| Axis Bank | -1.43% |
| Kotak Mahindra Bank | -1.08% |
| Tech Mahindra | -0.72% |
| HDFC Bank | -0.48% |
| Maruti Suzuki India | -0.12% |
Nifty Midcap 50 Performance
Top Gainers
Among the medium-cap stocks, notable gainers included Vodafone Idea, Yes Bank, Suzlon Energy, NMDC, and Indus Towers.
Top Losers
The downside was led by CG Power & Industrial Solutions, Sundaram Finance, SBI Cards & Payment Services, Indian Hotels Company, and Bharat Forge.
Nifty Small Cap 100 Overview
Top Gainers
Standout performers in the small-cap segment included Hindustan Copper, Amara Raja Energy & Mobility, NBCC India, Housing & Urban Development Corporation, and Redington India.
Top Losers
The small-cap losers featured Mahanagar Gas, PNB Housing Finance, JBM Auto, R R Kabel, and Triveni Turbines.
BSE Market Highlights
Top Gainers
| Stock | Change (%) |
|---|---|
| Bandhan Bank | 9.92% |
| Vodafone Idea | 7.56% |
| Poonawalla Fincorp | 7.48% |
| Anupam Rasayan India | 6.92% |
| Indian Railway Finance Corporation | 6.73% |
Top Losers
| Stock | Change (%) |
|---|---|
| IFB Industries | -9.75% |
| Interglobe Aviation | -8.00% |
| Cholamandalam Investment & Finance Company | -6.66% |
| Mahanagar Gas | -5.22% |
| Cholamandalam Financial Holdings | -5.21% |
NSE Market Insights
Top Gainers
| Stock | Change (%) |
|---|---|
| Bandhan Bank | 9.87% |
| Archean Chemical Industries | 9.21% |
| Vodafone Idea | 7.70% |
| Poonawalla Fincorp | 7.61% |
| Canara Bank | 6.84% |
Top Losers
| Stock | Change (%) |
|---|---|
| Interglobe Aviation | -8.03% |
| Cholamandalam Investment & Finance Company | -6.69% |
| Mahanagar Gas | -5.45% |
| Craftsman Automation | -5.19% |
| Grindwell Norton | -5.07% |
Analysis and Conclusion
The performance metrics of October 28 suggest a shift in investor interest towards midcap and small-cap stocks. With Shriram Finance and Bandhan Bank leading the pack, it indicates a growing favor for companies outside the larger-cap space. Meanwhile, the declines of Coal India and Interglobe Aviation may point to sector-specific challenges or investor reassessment of these stocks. As the market progresses, the implications of these movements will be closely monitored, particularly for trends that could impact future trading.
Call to Action
Investors are encouraged to stay informed about current market conditions and trends, as these factors greatly influence investment strategies.
FAQ
What were the main gainers in the market on October 28, 2024?
The main gainers included Shriram Finance and Bandhan Bank, with significant increases in their stock prices.
Which stocks experienced the largest declines?
The stocks that experienced the largest declines were Coal India and Interglobe Aviation, each seeing a drop in their value.
How did midcap and small-cap stocks perform compared to larger indices?
Both midcap and small-cap stocks outperformed the broader indices, suggesting a shift in investor focus.
What should investors consider in light of these market movements?
Investors should consider the trends in sector performance and the movements of specific stocks to make informed decisions moving forward.
