Introduction
The Stock Market 24 October witnessed a corrective session after several days of rally, reflecting investor caution ahead of the end-of-month window and ongoing global uncertainties. Both Sensex and Nifty closed lower, as traders booked profits in top-performing stocks and weighed fresh economic and corporate developments.
The mood on Dalal Street was cautious yet strategic, with selective buying in high-potential sectors while broader indices faced selling pressure. While retail investors enjoyed festive optimism, Stock Market Today reminded participants that even bullish markets experience short-term pullbacks.
Index Performance on Stock Market 24 October
| Index | Closing Level | Change | % Change |
|---|---|---|---|
| NIFTY 50 | 25,794.35 | -97.05 | -0.37% |
| SENSEX | 84,236.11 | -320.29 | -0.38% |
| Nifty Bank | 57,742.90 | -335.15 | -0.58% |
| Nifty IT | 35,970.05 | -108.60 | -0.30% |
| S&P BSE SmallCap | 53,519.03 | -97.68 | -0.18% |
All major indices witnessed declines, with banking and midcap sectors under pressure. Despite the broader dip, some individual stocks still gained on company-specific triggers.
Top Gainers on Stock Market 24 October
- Shipping Corporation (+9.6%)
Shipping Corporation surged to a 52-week high after reports that its privatization plans were temporarily halted, boosting investor confidence and attracting heavy volumes. - Sammaan Capital (+8.48%)
Sammaan Capital saw strong buying interest, hitting a 52-week high as investors anticipated better capital allocation and future growth opportunities. - CreditAccess Grameen (+6.23%)
The microfinance company rallied post-results announcement. Robust earnings and strong portfolio growth pushed it higher, making it a standout performer in Stock Market Today. - Cholamandalam Finance (+5.8%)
The stock advanced on strong financial performance and healthy loan book expansion, drawing institutional attention. - Gravita (+5.34%)
Gravita gained on positive sectoral news and renewed investor interest in specialty metals and recycling businesses.
Top Losers on Stock Market 24 October
- Ceat (-4.25%)
After recent multi-week gains, Ceat experienced profit booking, reflecting traders’ caution before the festive season. - Dr Agarwals Health Care (-3.92%)
The stock saw a decline due to profit-taking and concerns over near-term growth pressures. - Ather Energy (-3.7%)
The EV maker corrected as investors assessed delivery challenges and rising competition in the sector. - Cipla (-3.69%)
Despite a target upgrade, shares fell on sector rotation, as funds shifted focus from healthcare to banks and consumer stocks. - Jindal Saw (-3.68%)
The stock hit a 52-week low, dragged down by profit booking and commodity-related headwinds affecting metals and steel companies.
Summary Table: Top Gainers vs Top Losers — Stock Market 24 October
| Top Gainers | % Change | Top Losers | % Change |
|---|---|---|---|
| Shipping Corp | +9.6% | Ceat | -4.25% |
| Sammaan Capital | +8.48% | Dr Agarwals Health Care | -3.92% |
| CreditAccess Grameen | +6.23% | Ather Energy | -3.7% |
| Cholamandalam Fin | +5.8% | Cipla | -3.69% |
| Gravita | +5.34% | Jindal Saw | -3.68% |
Why the Market Was Down Today
The Stock Market 24 October decline can be attributed to multiple domestic and global factors:
1. Global Trade & Risk Concerns
Investor sentiment was weighed down by fears of escalating trade tensions between the U.S. and China. Reports of renewed trade scrutiny created uncertainty, dampening appetite for equities.
2. Rising Oil Prices
Higher crude costs, partly due to U.S. sanctions on Russian oil companies, pressured energy-linked stocks and raised inflation concerns.
3. Profit Booking After Recent Rally
Many sectors, especially IT and auto, had witnessed strong gains in the prior sessions. Traders booked profits ahead of Diwali, causing a broad-based pullback.
4. FII Selling & Reduced Foreign Inflows
Foreign institutional investors (FIIs) turned net sellers, reducing liquidity in the market. This selling added pressure on indices already facing domestic profit-taking.
5. Sector Rotation
Investors rotated from defensive and high-growth sectors like healthcare and IT into selective banking and consumption names, causing declines in previously strong performers.
Conclusion: Caution Amid Pre-Diwali Festive Mood
The Stock Market 24 October session served as a reminder that short-term corrections are part of market cycles. Despite the decline, selective stocks and sectors continued to show resilience, offering investors tactical opportunities.
With Diwali around the corner, traders are likely to remain cautious, balancing festive optimism with profit booking. For long-term investors, such corrections offer potential entry points in fundamentally strong companies.
In essence, while Stock Market Today faced a dip, the overall outlook remains constructive for those focusing on quality stocks and sustainable growth trends.
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