Seven Nifty Stocks Defy Two-Month Market Slump, Led by Kotak and Dr Reddy’s

In September, foreign portfolio investors withdrew Rs 25,662 crore from Indian shares, driving the Nifty and Sensex down roughly 5.7% as higher US Treasury yields, oil-price pressure and a weak rupee spooked investors. Despite the broad decline, seven Nifty constituents stood out. Kotak Mahindra Bank led with a 7% rise, boosted by a recent Macquarie upgrade to Outperform.

Dr Reddy’s Laboratories gained 5% after Nomura kept a Buy rating and Citi upgraded the stock, citing upcoming USFDA clearances. Eternal, the parent of Zomato and Blinkit, rose 4% on continued confidence in its food-delivery and quick-commerce businesses, supported by a Goldman Sachs target-price increase. Adani Ports climbed 2% on record cargo volumes, while Coal India also rose 2% on strong demand and dividend appeal, after a Nuvama upgrade.

Axis Bank and Bharat Electronics each slipped only 1%, helped by solid business growth and defence-sector order wins respectively. These stocks’ relative resilience highlights the market’s tilt toward defensive, high-dividend and sector-specific opportunities during periods of macro-economic stress.