Top Gainers & Losers: Larsen & Toubro Leads as IT and Reliance Drag, Wednesday, October 28, 2026

Top Nifty 50 Gainers Today

• Larsen & Toubro (L&T): Up 3.97%, emerging as the primary driver of market gains for the session.
• Apollo Hospitals Enterprise: Up 3.66%, supported by strong defensive buying across healthcare and pharma stocks.
• Trent: Up 2.79%, benefiting from steady institutional buying interest in consumer retail.
• SBI Life Insurance: Up 2.58%, tracking relative strength and steady accumulation across select financials.

Top Nifty 50 Losers Today

• Infosys: Down 4.46%, posting the sharpest decline among index heavyweights amid heavy selling in software exporters.
• Tata Consultancy Services (TCS): Down 3.42%, dragging down the benchmark as the IT pack witnessed sector-wide profit booking.
• Reliance Industries (RIL): Down 2.92%, facing downward pressure following the high-profile market debut of its digital unit.
• Oil & Natural Gas Corporation (ONGC): Down 2.55%, extending losses amid weakness across the broader oil and gas space.

Analysis: Reasons Behind the Moves

The trading session on Wednesday, October 28, 2026, was characterized by stark sector rotation, with heavy selling in technology and oil & gas offsetting strength in industrials and healthcare:

• IT Sector Headwinds: Nifty IT led market losses, declining over 2.5% to 3.0%. Frontline IT majors including Infosys, TCS, and Tech Mahindra witnessed severe selling pressure as global AI trade dynamics and overseas tech earnings led institutional investors to reallocate capital away from Indian IT service providers.
• Reliance Industries Drag: Reliance Industries retreated nearly 3% as market participants booked profits following the standalone listing of Jio Platforms on Dalal Street, creating a drag on benchmark performance.
• Energy Sector Pullback: Upstream energy producers like ONGC faced selling pressure alongside broader oil and gas stocks, driven by volatility in global energy markets and elevated crude oil benchmarks.
• Capital Goods and Healthcare Strength: Countering the index decline, Larsen & Toubro saw strong buying interest as investors favored capital goods and infrastructure plays. Simultaneously, defensive sectors such as healthcare and pharmaceuticals attracted steady inflows, propelling names like Apollo Hospitals higher.