On Thursday, Nifty 50 fell 0.56% to 24,205.35. During the session, 13 stocks gained while 37 declined.

In October, the Nifty declined 6.09%, marking its biggest monthly fall since March 2020, when the index fell 23%. The next worst monthly fall was seen in June 2022 when Nifty fell 4.85%.

Top Gainers:

Cipla topped the chart with a massive 9.41% surge, ending the session at ₹1551.75. Cipla gained after one of the company's plants was virtually cleared by the U.S. Food and Drug Administration (FDA) for manufacturing.

Larsen & Toubro followed with a strong gain of 6.28%. L&T gained after brokerages were impressed by the company’s strong execution and order inflow in its Q2 results. Other leading gainers like Dr Reddy’s, ONGC, and Hero MotoCorp also posted substantial increases.

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Top Losers:

Conversely, Wipro experienced the largest decline, dropping 2.38% to ₹551.80. Other IT giants such as Infosys, TCS, Tech Mahindra, and HCL Technologies also saw noticeable decreases in the session.

Vinod Nair, head of research at Geojit Financial Services said, “The key benchmark indices traded with mild cuts while experiencing a broader sell-off in the technology sector due to weakness in the US IT companies, which has led the domestic IT companies to come under the shadow of underperformance.

“Investors remain cautious owing to weak domestic earnings for Q2. However, the market expects the momentum to reverse in H2 due to a rebound in core sector data and government spending, which are likely to influence the Samvat 2081 investment strategy.”

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