Top Gainers of the Day – Cipla, Larsen & Toubro, and Dr Reddy’s Labs Lead on October 31, 2024

On October 31, 2024, the Indian stock market indices showed a mixed performance with declines across both major indices. The BSE Sensex dropped by 0.69%, closing at 79,389.06, down by 553.12 points. Meanwhile, the Nifty50 index recorded a decrease of 135.50 points (0.56%), ending the day at 24,205.35.

Despite the overall downtrend in the indices, certain stocks in the Nifty50 index emerged as top gainers, showcasing resilience amidst a volatile market. Here’s a closer look at the top 5 gainers of the day:

1. Cipla Ltd

Cipla Ltd share price demonstrated a strong performance, opening at ₹1,518.05 and reaching an intraday high of ₹1,565.95. The stock closed at ₹1,551.75, marking a 9.41% increase, or a gain of ₹133.50. This surge reflects positive sentiment around the pharmaceutical sector, potentially driven by industry news or corporate developments impacting Cipla.

2. Larsen & Toubro (L&T)

Larsen & Toubro’s share price also made notable gains, closing at ₹3,622.30, representing a 6.28% rise. Opening at ₹3,508.35, L&T’s price peaked at ₹3,654.95 during the day, reflecting increased investor interest in this engineering and infrastructure giant.

3. Dr Reddy’s Laboratories

Pharmaceutical giant Dr Reddy’s Laboratories share price saw a rise by 1.95%, closing at ₹1,274.20. Starting the day at ₹1,248.00, it reached a high of ₹1,283.65 before settling at the day’s close. The 24.35-point gain highlights a positive trend for contributing to the healthcare sector’s stability in the market.

4. ONGC (Oil and Natural Gas Corporation)

ONGC share price closed at ₹266.15, reflecting a 1.72% increase, or a gain of ₹4.50. The stock fluctuated within a range of ₹261.15 to ₹268.30. Despite energy sector volatility, ONGC’s performance today indicates investor confidence in its ongoing projects and potential for stable returns.

5. Hero MotoCorp

Hero MotoCorp’s share price recorded a gain of 1.63%, closing at ₹4,989.55. Opening at ₹4,919.95, it reached a high of ₹5,027.50, showing a steady upward trend. The 80.25-point rise is driven perhaps by anticipation of strong sales in the coming months.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.