The Indian stock market ended lower on Tuesday, October 28, but a strong late-hour recovery helped erase most of the early losses, leaving the frontline indices with only mild declines.
The Nifty 50 ended with a marginal loss of 0.11% at 25,936 points, while the S&P BSE Sensex slipped 0.18% to close at 84,628 points.
The broader market, however, outperformed the frontline indices, with the Nifty Midcap and Nifty Smallcap 100 indices edging lower by just 0.02%.
Sectorally, most indices closed in the red, with realty, IT, and FMCG among the top losers. However, strength in metal and banking majors helped limit the downside.
Meanwhile, PSU banking stocks continued to strengthen, with the Nifty PSU Bank index hitting a new record high of 8,118.95 points. The latest rally has lifted the index’s gains to 24% so far this year, the best performance among major sectoral indices.
Mr. Ajit Mishra, SVP, Research, Religare Broking, said, “ Market sentiment remained cautious ahead of key global central bank meetings and major U.S. tech earnings announcements. Additionally, muted activity by foreign institutional investors in the cash segment weighed on sentiment, though steady domestic inflows and a largely positive earnings season so far helped maintain an overall constructive tone.”
Bata India, Vodafone Idea lead market losers
Bata India led the losers’ list, with the stock plunging 5.6% to ₹1,101 as selling pressure mounted after the release of its September quarter results, which failed to excite the Street.
The footwear major reported a 73% year-on-year decline in consolidated net profit to ₹13.89 crore in Q2FY26, compared with ₹51.98 crore in the same quarter last year.
Vodafone Idea also slipped in trade, losing 5.3% to ₹9.40 apiece, as traders booked profits following a strong rally that pushed its October gains to 16.11% so far.
Reliance Infrastructure, Supreme Industries, Shipping Corporation, BSE Transformers & Rectifiers, Aditya Birla Real Estate, Torrent Power, and Valor Estate also lost over 3% each.
Meanwhile, TVS Motor Company, which announced its Q2 results during the last hour of trade, ended 2.1% lower at ₹3,562 apiece, even as its performance came in line with analysts’ estimates.
The Chennai-based company reported a 36.6% year-on-year rise in standalone net profit to ₹906 crore, compared with ₹663 crore in the same period last year. In the June quarter, it had posted a net profit of ₹778.59 crore.
Among metal majors, most ended higher, though Hindustan Zinc slipped 2.3% to ₹471 apiece.
Newgen Software, CPCL, Netweb, Syrma SGS, Suzlon Energy among gainers
Reacting positively to the Q2 numbers, Newgen Software shares advanced 11.20% to ₹996 apiece. The mid-cap IT company reported a rise in revenue across key geographies, including India, EMEA, APAC, and the U.S.
In a similar move, Chennai Petroleum Corporation also reacted positively to its results, with the stock ending 9.5% higher at ₹843.2 apiece. Following the announcement, Elara Capital upgraded its rating on the stock to ‘buy’ from ‘reduce’, along with a higher target price of ₹935 apiece.
After remaining on the sidelines, Netweb Technologies resumed its winning streak following significant strides, with the stock climbing 8% to ₹4,239. The stock has emerged as one of the biggest turnarounds of 2025, recovering 236% from its April lows.
Syrma SGS Technology zoomed 6.3% to ₹802.3 apiece after the government approved the first batch of seven projects under the Electronics Components Manufacturing Scheme.
Meanwhile, retail investors’ favourite Suzlon Energy saw a strong upward run after nearly three months, with the stock spiking 5% to ₹56.22 apiece, marking its biggest intraday jump since August 2025.
Other gainers included RR Kabel, Swan Corp, Graphite India, Olectra Greentech, NMDC Steel, Indus Towers, IndusInd Bank, Jindal Steel, JK Tyre & Industries, UPL, and nine other stocks from the Nifty 500 pack, all closing with gains between 3% and 6%.
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