Sensex Jumps 483 Points to Snap Four-Day Slide as Dr Reddy's Rallies and Shriram Finance Slides

The Sensex rose 482.92 points to 73,606.75 and the Nifty 50 gained 153.20 to 22,753.20 on Monday, led by metal and pharma stocks, as Dr Reddy's climbed after its Q2 results.

Oct 26, 2026 - 07:23

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Indian equity benchmarks ended a four-session losing streak on Monday, October 26, 2026, recovering from early losses on value buying and gains in metal, pharmaceutical and healthcare shares. The 30-share BSE Sensex closed 482.92 points, or 0.66%, higher at 73,606.75, and the NSE Nifty 50 rose 153.20 points, or 0.68%, to 22,753.20, The Hindu reported, citing PTI.

How the session unfolded

The Sensex swung between a low of 72,514.57 and a high of 73,606.75, a range of 1,092.18 points, and finished at the day's high. On Friday, October 23, the index had closed at 73,123.83, down 125.56 points, while the Nifty fell 87.65 points to 22,600.

The Nifty Metal and Nifty Pharma indices were the top sectoral gainers, each rising nearly 2%, while the Nifty Media and Consumer Durables indices fell the most, Business Standard reported. Thirty-seven of the 50 Nifty stocks ended higher. The Nifty Midcap 100 gained 1.19% and the Nifty Smallcap 100 rose 1.38%. The Nifty Bank index, which traded on both sides of the flat line, ended 79.33 points higher at 54,367, according to CNBC-TV18.

Market breadth favored gainers. Of 3,677 stocks traded on the NSE, 2,081 advanced, 1,504 declined and 92 were unchanged, while 20 stocks hit 52-week highs and 443 touched 52-week lows, ET Now reported.

Among Sensex constituents, Adani Ports, Eternal, Kotak Mahindra Bank, Trent, Tata Steel, Bharti Airtel, InterGlobe Aviation and ITC were the major gainers, while Bajaj Finance, HDFC Bank, Maruti, HCL Tech and Power Grid lagged, The Hindu said. Brent crude fell 1.60% to $114.8 a barrel. The rupee closed at 95.19 per U.S. dollar, compared with 94.94 on Friday, CNBC-TV18 reported.

"Indian equities recovered from early losses, supported by value buying and strength in metals, power and healthcare. However, elevated crude prices, geopolitical uncertainty, and caution ahead of Fed, ECB (European Central Bank), and BoJ (Bank of Japan) policy decisions kept sentiment measured," Vinod Nair, head of research at Geojit Investments, said. "Mid and smallcaps also witnessed some recovery after last week's sharp correction," he added.

Dr Reddy's leads the Nifty

Dr Reddy's Laboratories was the top Nifty gainer, closing 6.6% higher, according to ET Now. The drugmaker reported on Friday that second-quarter net profit fell 36% from a year earlier to ₹913.4 crore from ₹1,426.8 crore, and revenue declined 1.5% to ₹8,671 crore, mainly because of lower sales of the cancer drug lenalidomide in North America, CNBC-TV18 reported. Both figures were above the broadcaster's poll estimates of ₹650.8 crore and ₹8,409 crore. EBITDA fell 24.2% to ₹1,783 crore, and the EBITDA margin was 20.6%, down from 26.7% a year earlier but above the 14.2% poll estimate. North America revenue fell 23% to ₹2,490 crore, while India revenue rose 17% to ₹1,850 crore.

JPMorgan upgraded the stock to Neutral from Underweight with a price target of ₹1,270, closing an Underweight call it had held for nearly four years, CNBC-TV18 reported. Other brokerages' ratings ranged from Kotak Institutional Equities' Reduce, with a ₹1,220 target, to Nomura's Buy, with a ₹1,730 target. HSBC said the planned resumption of commercial semaglutide supplies in November 2026 remains on track, and it identified the semaglutide relaunch and U.S. approval for abatacept as key catalysts for the stock, according to the report.

Shriram Finance falls on guidance cut

Shriram Finance was the weakest Nifty stock, falling nearly 5% after cutting its assets under management growth guidance, CNBC-TV18 reported. The shares traded down 5.03% at ₹821.50 around midday and touched an intraday low of ₹810.20, The Hindu BusinessLine reported. Management lowered its fiscal 2027 AUM growth guidance to 15% to 17% from 18%, citing weak monsoons and uncertainty from the West Asia conflict. Second-quarter profit after tax rose 59.4% to ₹3,677 crore and AUM grew 17% to ₹3.29 trillion, but provisions rose 28% from the previous quarter and credit costs climbed to 235 basis points, according to a JPMorgan note cited by the newspaper. JPMorgan cut its target price to ₹1,095 from ₹1,215, Citi to ₹1,100 from ₹1,200 and HSBC to ₹1,000 from ₹1,140.

Other movers

Infosys ended more than 1% higher despite missing expectations in its second-quarter results, and Coforge rose nearly 5%, CNBC-TV18 reported.
BSE Ltd gained 4% after a positive brokerage note.
ITC Hotels gained more than 5% on revenue and margin expansion; it reported a 52.3% rise in second-quarter net profit to ₹201 crore.
Indian Overseas Bank advanced nearly 6% after second-quarter net profit rose 56% to ₹1,912.4 crore.
Supreme Industries fell more than 4% after cutting its guidance.