In September 2025, the Nifty 50 index had a neutral return of -0.06%. This was driven by strong performances from sectors like Industrials, led by Bharat Electronics Limited, Adani Ports and Special Economic Zone Limited, and Larsen Toubro Limited, while Technology declined sharply due to losses in Tata Consultancy Services Limited, Tech Mahindra Limited, and HCL Technologies Limited. The market breadth was slightly positive with 26 stocks advancing against 24 declining.
Chart: Monthly Return Chart
Source: NSE
How was the market breadth: 26 advance while 24 decline:
In Sep-2025, the market breadth was slightly positive. 26 stocks advanced while 24 declined. This is marginally worse compared to August’s strong 34-16 advance-decline ratio.
Table: Advances and Declines history
| Month | Advances | Declines | Advance/Decline Ratio
close |
| Sep-2025 | 26 | 24 | 1.08 |
| Aug-2025 | 34 | 16 | 2.12 |
| Jul-2025 | 7 | 43 | 0.16 |
| Jun-2025 | 36 | 14 | 2.57 |
| May-2025 | 33 | 17 | 1.94 |
| Apr-2025 | 36 | 14 | 2.57 |
| Mar-2025 | 42 | 8 | 5.25 |
| Feb-2025 | 8 | 42 | 0.19 |
| Jan-2025 | 20 | 30 | 0.67 |
| Dec-2024 | 14 | 36 | 0.39 |
| Nov-2024 | 21 | 29 | 0.72 |
| Oct-2024 | 6 | 44 | 0.14 |
Source: NSE
Chart: Trends In ADR Ratio
Source: NSE
Industrials performs the best while Technology performs the worst:
Industrials was the best performing sector in the latest month with a weighted return of 3.51%. This was driven by strong performances from Bharat Electronics Limited, Adani Ports and Special Economic Zone Limited, and Larsen Toubro Limited. On the other hand, the worst performing sector was Technology which saw a decline of 5.26%. Key contributors to this downturn included Tata Consultancy Services Limited, Tech Mahindra Limited, and HCL Technologies Limited.
Table: Performance Across Sectors
| Sector | Number Of Stocks | % Change (w. avg) | % Change (avg) |
| Industrials | 3 | 3.51 | 4.94 |
| Utilities | 2 | 1.68 | 1.55 |
| Energy | 4 | 1.41 | 3.62 |
| Basic Materials | 6 | 1.4 | 1.67 |
| Financial Services | 12 | 0.71 | 1.59 |
| Consumer Cyclical | 8 | 0.3 | 0.17 |
| Communication Services | 2 | -0.25 | 0.22 |
| Healthcare | 4 | -1.64 | -2.78 |
| Consumer Defensive | 4 | -1.77 | -0.74 |
| Technology | 5 | -5.26 | -5.62 |
Source: NSE
Chart: Sector Performance Heatmap Over the Past Year
Source: NSE
Top performers over a 1 Year Horizon:
Over the past year, the top performers were led by Bharat Electronics Limited, Eicher Motors Limited, and Bajaj Finance Limited with returns of 43.38%, 42.71%, and 33.45% respectively. These stocks were primarily from the Industrials and Consumer Cyclical sectors.
Table: Top-15
| Stock | Sector | % Change (1Y) |
| Bharat Electronics Limited | Industrials | 43.38 |
| Eicher Motors Limited | Consumer Cyclical | 42.71 |
| Bajaj Finance Limited | Financial Services | 33.45 |
| Maruti Suzuki India Limited | Consumer Cyclical | 23.06 |
| Eternal Ltd. | Communication Services | 18.73 |
| State Bank of India | Financial Services | 11.87 |
| HDFC Bank Limited | Financial Services | 11.72 |
| JSW Steel Limited | Basic Materials | 11.53 |
| Bharti Airtel Limited | Communication Services | 11.38 |
| Mahindra Mahindra Limited | Consumer Cyclical | 9.13 |
| HDFC Life Insurance Company Limited | Financial Services | 6.79 |
| ICICI Bank Limited | Financial Services | 6.59 |
| Kotak Mahindra Bank Limited | Financial Services | 6.2 |
| UltraTech Cement Limited | Basic Materials | 3.95 |
| Apollo Hospitals Enterprise Limited | Healthcare | 3.85 |
Source: NSE
Bottom performers over a 1 Year Horizon:
Over the past year, the bottom performers included IndusInd Bank Limited, Trent Limited, and Tata Consultancy Services Limited with returns of -47.82%, -38.5%, and -30.38% respectively. These stocks were primarily from the Financial Services and Consumer Cyclical sectors.
Table: Bottom-15
| Stock | Sector | % Change (1Y) |
| IndusInd Bank Limited | Financial Services | -47.82 |
| Trent Limited | Consumer Cyclical | -38.5 |
| Tata Consultancy Services Limited | Technology | -30.38 |
| Tata Motors Limited | Consumer Cyclical | -28.92 |
| Bajaj Auto Limited | Consumer Cyclical | -28.5 |
| Asian Paints Limited | Basic Materials | -27.51 |
| Infosys Limited | Technology | -22.37 |
| HCL Technologies Limited | Technology | -21.44 |
| NTPC Limited | Utilities | -20.76 |
| ITC Limited | Consumer Defensive | -19.53 |
| Power Grid Corporation of India Limited | Utilities | -18.02 |
| Adani Enterprises Limited | Energy | -17.71 |
| Coal India Limited | Energy | -17.02 |
| Jio Financial Services Limited | Financial Services | -16.34 |
| Sun Pharmaceutical Industries Limited | Healthcare | -16.19 |
Source: NSE
Stocks Near 52 Week Highs:
As of end of last month, only 9 stocks were within 5% of their 52-week highs, and a total of 18 stocks were within 10%. Among the closest are UltraTech Cement Limited, Apollo Hospitals Enterprise Limited, and Larsen Toubro Limited, all trading within 7.7% of their 52-week highs.
Table: Stocks within 10% of 52 Week High
| Stock | Sector | Last Close | 52 Week High | vs 52 Week High (%) |
| State Bank of India | Financial Services | 872.45 | 880.5 | -0.91 |
| Eicher Motors Limited | Consumer Cyclical | 7005.5 | 7122.5 | -1.64 |
| Hero MotoCorp Limited | Consumer Cyclical | 5472.5 | 5608.45 | -2.42 |
| Maruti Suzuki India Limited | Consumer Cyclical | 16029.0 | 16435.0 | -2.47 |
| JSW Steel Limited | Basic Materials | 1142.7 | 1175.8 | -2.82 |
| Tata Steel Limited | Basic Materials | 169.05 | 174.74 | -3.26 |
| Bajaj Finance Limited | Financial Services | 999.0 | 1036.0 | -3.57 |
| Hindalco Industries Limited | Basic Materials | 761.95 | 790.6 | -3.62 |
| Tata Consumer Products Limited | Consumer Defensive | 1129.3 | 1180.5 | -4.34 |
| Grasim Industries Limited | Basic Materials | 2756.9 | 2911.0 | -5.29 |
| Eternal Ltd. | Communication Services | 325.5 | 343.9 | -5.35 |
| Bajaj Finserv Ltd. | Financial Services | 2006.4 | 2135.0 | -6.02 |
| Adani Ports and Special Economic Zone Limited | Industrials | 1403.5 | 1494.0 | -6.06 |
| SBI Life Insurance Company Limited | Financial Services | 1790.6 | 1912.0 | -6.35 |
| HDFC Bank Limited | Financial Services | 952.5 | 1018.85 | -6.51 |
| UltraTech Cement Limited | Basic Materials | 12240.0 | 13097.0 | -6.54 |
| Apollo Hospitals Enterprise Limited | Healthcare | 7409.0 | 7980.0 | -7.16 |
| Bharat Electronics Limited | Industrials | 403.95 | 436.0 | -7.35 |
| Larsen Toubro Limited | Industrials | 3659.0 | 3963.5 | -7.68 |
| HDFC Life Insurance Company Limited | Financial Services | 756.45 | 820.75 | -7.83 |
| Bharti Airtel Limited | Communication Services | 1883.0 | 2045.8 | -7.96 |
| Mahindra Mahindra Limited | Consumer Cyclical | 3427.0 | 3723.8 | -7.97 |
| Axis Bank Limited | Financial Services | 1131.6 | 1247.0 | -9.25 |
Source: NSE
Chart: Distribution of stocks vs their 52 week highs
Source: NSE
Stocks Near 52 Week Lows:
As of end of last month, nearly ~50% stocks were more than 20% away from their 52-week lows. Only 5 stocks were within 5% of their 52-week lows, with ITC Limited, Sun Pharmaceutical Industries Limited, and Wipro Limited being the closest.
Table: Stocks within 10% of 52 Week Low
| Stock | Sector | Last Close | 52 Week Low | vs 52 Week Low |
| Nestlé India Limited | Consumer Defensive | 1154.0 | 1055.0 | 9.38 |
| Sun Pharmaceutical Industries Limited | Healthcare | 1594.3 | 1548.0 | 2.99 |
| ITC Limited | Consumer Defensive | 401.55 | 390.15 | 2.92 |
| Wipro Limited | Technology | 239.37 | 228.0 | 4.99 |
| HCL Technologies Limited | Technology | 1385.9 | 1302.75 | 6.38 |
| Tata Consultancy Services Limited | Technology | 2888.4 | 2866.6 | 0.76 |
| Trent Limited | Consumer Cyclical | 4677.5 | 4488.0 | 4.22 |
Source: NSE
Chart: Distribution of stocks vs their 52 week Low
Source: NSE
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