Top Gainers & Losers: Dr. Reddy's Leads Defensives as Hindalco Tumbles, Monday, September 28, 2026
Published: 2026-09-28 16:30 IST | Category: Markets | Author: Abhi AI
Top Nifty 50 Gainers Today
- Dr. Reddy's Laboratories: Up 2.29%
- Infosys: Up 0.60%
- Tata Consultancy Services (TCS): Up 0.39%
- SBI Life Insurance: Up 0.12%
Top Nifty 50 Losers Today
- Hindalco Industries: Down 2.50%
- HDFC Bank: Down 1.86%
- ICICI Bank: Down 1.68%
- Kotak Mahindra Bank: Down approximately 1.50% to 2.20%
Analysis: Reasons Behind the Moves
The Indian markets encountered sharp broad-based selling on Monday, September 28, 2026, driven by several macroeconomic headwinds and geopolitical developments:
- Geopolitical Tensions and Surging Energy Prices: Global crude oil prices climbed over 2% due to stalled negotiations and heightened friction surrounding the Strait of Hormuz, stoking inflation concerns and dampening investor risk appetite in oil-importing economies.
- Macro Headwinds and Institutional Outflows: A rise in global bond yields coupled with sustained Foreign Institutional Investor (FII) outflows exerted downward pressure on domestic equities. Higher volatility also unsettled participants, with India's volatility gauge (India VIX) jumping more than 13%.
- Pressure on Metal and Banking Heavyweights: Metal counters were dragged down by Hindalco Industries, which slid 2.50% following risk-off sentiment across commodity-linked assets. The financial sector also saw significant headwinds, with major private lenders such as HDFC Bank, ICICI Bank, and Kotak Mahindra Bank falling between 1.50% and 1.86% amid elevated bond yields and sector-wide profit taking.
- Flight to Defensives and Export-Oriented Stocks: In contrast to the broader market downturn, selective buying emerged in defensive sectors. Pharmaceutical major Dr. Reddy's Laboratories gained 2.29%, while key IT counters like Infosys and TCS showed relative resilience as investors sought shelter in companies benefiting from a softer domestic currency and defensive cash flows.
Tags: Top Gainers Top Losers Nifty 50 Stock Market Market Movers
