On October 30, the Indian stock market reversed its two-day rally with the Sensex shedding 400 points and the Nifty 50 falling by 116 points. Pharma and financial stocks dragged the indices, while capital goods and select auto stocks managed to post notable gains. The Sensex closed at 79,965, and the Nifty ended at 24,350, reflecting a broad-based decline in key sectors.

Top Gainers in the Market

Garden Reach Shipbuilders

Shares of Garden Reach Shipbuilders climbed nearly 4% after securing a Rs 491 crore order to design and build an Acoustic Research Ship for the Defence Research and Development Organisation (DRDO). The defense contractor's focus on specialized shipbuilding boosted investor sentiment.

Adani Enterprises

Adani Enterprises surged almost 4% following its strong Q2 results. The company reported a net profit increase of nearly eightfold, reaching Rs 1,742 crore, signaling improved performance across its business verticals and regaining investor confidence amid the group's efforts to stabilize operations.

Force Motors

The stock of Force Motors hit the upper circuit of 20% after the company reported stellar Q2 earnings. Its net profit jumped 43% to Rs 134 crore, driven by strong vehicle sales and operational efficiencies.

Shriram Properties

Shares of Shriram Properties rose by 3% after the company signed a joint development agreement to develop a new project in Pune with a revenue potential of Rs 750 crore. Investors viewed this expansion positively, further supporting the company’s stock.

Maruti Suzuki

Despite posting weaker-than-expected Q2 results, Maruti Suzuki saw a 2% rise in its stock. Investors anticipate that India's largest automaker will recover over the next few quarters with improved production capacity and favorable market conditions.

Top Losers in the Market

Honeywell Automation

Honeywell Automation saw a decline of 8% after its Q2 earnings showed a 5.6% drop in net profit, mainly due to weak demand in its engineering segments. The earnings miss weighed heavily on the stock despite the company's long-term growth prospects.

Star Health and Allied Insurance

The stock of Star Health fell 4% after reporting an 11% decline in net profit to Rs 111 crore for Q2. The company struggled with weaker margins amid increased claims, contributing to investor concerns.

Voltas

Voltas lost over 4% in trading after announcing disappointing sequential Q2 results. Although the company showed significant annual growth, net profit dropped 60%, and revenue declined by 47% compared to the previous quarter.

Torrent Pharma

Torrent Pharma fell over 2% following news of a potential Rs 3,000 crore block deal by promoters. This development created uncertainty among investors. As of September, promoters held 71.25% stake, adding pressure on the stock.

Cipla

Shares of Cipla slipped 4% after analysts downgraded their targets due to weak Q2 performance. Seasonal weakness in the prescription and trade generic segments impacted the company, though its consumer health business continued to perform well.

Conclusion and Market Outlook

The trading session on October 30 highlighted the importance of sectoral rotation, with investors shifting focus from financial and pharma sectors to capital goods and select auto companies. Strong earnings reports from companies like Adani Enterprises and Force Motors drove gains, while disappointing results dragged down Voltas and Cipla.

Looking ahead, volatility is expected to remain as the market navigates through the ongoing earnings season. Investors will closely watch corporate announcements, global cues, and sector-specific developments to identify investment opportunities.

Also Read : Nifty 50 ends at 24,340.9 (-126 points), Sensex slips 426.9 points to 79,942.18

The Upcoming IPOs in this week and coming weeks are Archit Nuwood Industries Limited, Swiggy, ACME Solar Holdings.

The current active IPO is Afcons Infrastructure Limited.

For more insights into financial trends , visit our Top News Headlines. You can also explore investment opportunities in the market and apply for upcoming IPOs through our Best IPO to Apply Now section.