On October 26, 2026, the Indian stock market saw significant movements with the SENSEX increasing by 482.92 points, or 0.66%, closing at 73,606.75. The NIFTY50 index also rose by 153.20 points, or 0.68%, ending the day at 22,753.20. Both indices closed at their intraday highs, reflecting strong market momentum.
- Dr. Reddy’s Laboratories shares rose 6.62% despite a 31% year-on-year profit decline.
- JSW Steel gained 6.28%, leading other top gainers.
- Shriram Finance shares fell 4.62% due to concerns over asset quality.
- The NSE Midcap index increased by 1.19%, supported by gains in Swiggy and Coforge.
- The NIFTY Smallcap index rose 1.38%, led by Ather Energy’s strong performance.
What drove the gains in Dr. Reddy’s Laboratories despite profit decline?
Dr. Reddy’s Laboratories shares climbed 6.62% even though the company reported a 31% decline in consolidated net profit to ₹925 crore for the September quarter of 2026-27, down from ₹1,347.1 crore the previous year. The consolidated revenue was ₹867.08 crore, down 1.5% year-on-year but up 7% quarter-on-quarter. The company attributed slower growth mainly to lower lenalidomide revenues in North America. Investors appeared optimistic about the company’s outlook despite the profit drop.
Which other stocks gained on October 26?
Besides Dr. Reddy’s Laboratories, other top gainers included JSW Steel, which rose 6.28%, BSE Ltd up 3.97%, Adani Ports and Special Economic Zone increasing 2.92%, and Eternal gaining 2.57%. These stocks contributed to the positive momentum in the market indices.
Why did Shriram Finance shares fall despite profit growth?
Shriram Finance shares dropped 4.62% due to investor concerns about the company’s asset quality and elevated credit costs. However, the company reported a strong standalone profit after tax (PAT) increase of 59.37% year-on-year to ₹3,677.03 crore for the quarter, compared to ₹2,307.18 crore in the same quarter last year. Despite the profit growth, worries about credit quality weighed on the stock price.
How did the Midcap and Smallcap indices perform?
The NSE Midcap index closed at 56,465.40, up 664.75 points or 1.19%. Top gainers in this segment included Swiggy (5.54%), Coforge (4.87%), KEI Industries (4.68%), Jubilant Foodworks (4.68%), and Lauras Labs (4.51%). On the downside, AU Small Finance Bank fell 6.85%, Supreme Industries dropped 4.13%, Bank of India declined 3.57%, 360 ONE WAM lost 2.22%, and UPL Ltd decreased 2.15%.
The NIFTY Smallcap index rose by 245.55 points or 1.38%, closing at 17,985. Ather Energy led gains with a 14.13% increase after reporting profitability in the second quarter, posting a net profit of ₹1.26 crore compared to a loss of ₹154 crore in the previous year. Other top gainers included Mangalore Refinery and Petrochemicals (12.67%), TD Power Systems (8.20%), Acutaas Chemicals (6.93%), and Himadri Speciality Chemical (6.06%). Top losers in this segment were City Union Bank (-6.38%), CreditAccess Grameen (-2.88%), Welspun Corp (-2.21%), Sammaan Capital (-2.17%), and Syngene International (-2.14%).
What does this market activity indicate?
The positive performance of major indices like SENSEX and NIFTY50, along with strong gains in Midcap and Smallcap stocks, suggests investor confidence in certain sectors despite mixed company earnings reports. Stocks like Dr. Reddy’s Laboratories and Ather Energy showed resilience, while concerns over asset quality affected some financial stocks like Shriram Finance. Overall, the market demonstrated selective optimism on October 26, 2026.
