The NIFTY50 index fell 6.06% in September 2026, closing at 22,620.45 points on September 30, after a month of subdued investor sentiment and foreign outflows. Despite the benchmark’s decline, three constituent stocks—Coal India, Dr Reddy’s Laboratories, and Adani Ports & SEZ—recorded gains of up to 13% during the same period. The market’s negative trajectory was driven by cautious sentiment, foreign institutional investors selling ₹10,148.41 crore in a single day, and foreign portfolio investors withdrawing ₹58,443 crore over the month.

Coal India’s shares closed flat at ₹425 on September 30, yet the company posted a 5.7% monthly return, buoyed by production growth and supply improvements. Northern Coalfields, a major subsidiary, reported a 67% rise in overall production and a 75% increase in supply as of September 8, with daily output climbing 40% from 1.36 MT to 1.91 MT. Total production for the financial year 2026-27 stood at 51.43 million tonnes, while supplies reached 55 MT by September 8, signalling recovery from rainfall‑induced disruptions.

Dr Reddy’s Laboratories delivered a 6.8% return for September, outperforming the index. The pharmaceutical firm closed 1.51% lower at ₹1,233 on September 30, after a prior close of ₹1,251.90. In September, it entered a distribution and marketing agreement with Takeda Biopharmaceuticals India Private Limited for Qdenga® in the Indian private market, aiming to strengthen its vaccines business amid dengue’s public health burden. The company also expanded a voluntary licensing agreement with Gilead Sciences for investigational lenacapavir for HIV prevention.

Adani Ports & SEZ shares rose 12.8% over the month, closing 1.3% lower at ₹1,798.30 on September 30 from ₹1,822 previously. The surge followed a settlement with SEBI, where Adani Group entities paid ₹1.48 crore to resolve alleged minimum public shareholding violations. Adani Ports disclosed a ₹37,05,000 settlement payment to the regulator and received a Letter of Award for developing and operating two dry bulk berths at Paradip Port, Odisha, under a 30‑year concession awarded through competitive bidding.

Foreign institutional investors sold ₹10,148.41 crore of capital market assets on September 30, the final trading day of the month, reflecting cautious sentiment amid global uncertainties. Meanwhile, foreign portfolio investors withdrew a total of ₹58,443 crore from Indian markets during September. These outflows coincided with elevated US Treasury yields, rising crude oil prices, and geopolitical tensions in West Asia, all contributing to market volatility and investor apprehension.

The month’s performance data show that Coal India achieved a 5.7% monthly return and a 6.1% year‑to‑date gain, Dr Reddy’s posted a 6.8% monthly return but a 1.6% year‑to‑date loss, and Adani Ports recorded a 12.8% monthly return and a 21.4% year‑to‑date gain. These figures, sourced from NSE website as of September 30, 2026, illustrate how individual stocks can outperform a declining benchmark amid broader market headwinds.