Why These Stocks Are Rising and Falling Today: CYIENT, TCS & COFORGE Gain; SWIGGY, J&KBANK, & TTML Decline

Indian equity markets opened flat on Friday, October 23, with the Nifty 50 trading 0.18% down at 22,729 at around 9:22 AM, weighed down by escalating tensions in the Middle East and elevated crude oil prices. Brent crude rocketed above $113 a barrel on Thursday, after new attacks on Saudi Arabian infrastructure stoked fears of disruption to world oil supplies. Higher oil prices continued to weigh on India’s import bill, inflation and corporate earnings, keeping market sentiment cautious. However, gains in IT stocks provided some relief to the benchmark indices, limiting the overall fall. Broader markets continued to come under pressure amid ongoing volatility.

On Thursday, October 22, FIIs were net sellers in the capital market as they sold shares worth ₹3,459.31 crore, while DIIs bought shares worth ₹2,890.62 crore on the day, which helped the market.

Amidst this backdrop, here are the top gainers and losers in the Nifty 500 index.

Top Gainers for October 23: CYIENT, TCS & COFORGE Gain Up to 7.5%

Cyient Ltd Price Jumps 7.5%

At 9:22 AM: Cyient Ltd is among the top gainers on the Nifty 500 today. It is currently trading at ₹1,229.80, up 7.5% from its previous close on NSE. The company had announced its Q2 FY27 results on October 22. Its Digital, Engineering and Technology (DET) business reported revenue of ₹1,664 crore, a growth of 15.7% year-on-year, buoyed by robust demand for engineering services. The company also posted a 20.8% year-on-year growth in order intake and its DET operating margin touched a 10-quarter high of 14.2%. The board also declared an interim dividend of ₹12 per share.

Trading volumes stood at 45.8 lakh, compared with the 30-day average volume of 7.4 lakh shares.

Tata Consultancy Services Ltd Share Price Rises Over 3.8%

Tata Consultancy Services Ltd is witnessing strong buying interest, with the stock gaining 3.8% to ₹2,603.30 on Friday, October 23, at 9:22 am, supported by strong buying interest across the information technology sector. The Nifty IT index surged around 3% in early trade, outperforming the broader market despite concerns over rising crude oil prices and geopolitical tensions. The rally in domestic IT stocks came even as global technology shares faced selling pressure amid concerns over heavy artificial intelligence investments and their potential returns.

Trading volumes stood at 23.6 lakh shares, compared with the 30-day average volume of 49.4 lakh shares.

Coforge Ltd  Share gains 3.1%

At 9:22 am, the Coforge Ltd share price was trading at ₹1,968.00, up by 3.1% from its previous close on the NSE, supported by buying interest in IT stocks and investor anticipation ahead of the company's board meeting scheduled for later today. The board is set to consider and approve the financial results for the quarter ended September 30, 2026, followed by an investor conference call at 5:30 PM. Investors will closely monitor the company's management commentary, deal pipeline, order book and demand outlook for indications of future business growth.

Trading volumes stood at 10.5 lakh shares, compared with the 30-day average volume of 25.2 lakh shares.

Top Losers for October 23:SWIGGY, J&KBANK, & TTML Fall Up to 7.9%

Swiggy Ltd Share Price Falls 7.9%

Swiggy Ltd share price was trading at ₹194.60 down 7.9% from its previous close on the NSE at 9:22 am, following concerns over widening losses in its quick-commerce business, Instamart, despite revenue growth in the September quarter. Instamart reported an adjusted operating loss of Rs 895 crore against Rs 849 crore in the year-ago quarter, raising concerns over profitability amid fierce competition and ongoing investments in its delivery network. Swiggy's consolidated net loss widened sequentially to Rs 922 crore from Rs 792 crore in the preceding quarter. Adding to the pressure, brokerages like Jefferies and Emkay cut their price targets after the earnings announcement.

Trading volumes stood at 3.8 crore shares, compared with the 30-day average volume of 1.3 crore shares.

Jammu and Kashmir Bank Ltd Share Price Declines 6.8%

Jammu and Kashmir Bank Ltd. shares saw selling pressure on Friday, October 23 with the stock trading at ₹125.77, down 6.8% from its previous close around 9:22 am, as investors assessed the bank's Q2 FY27 financial performance announced on Thursday. Although the bank reported a 10.6% year-on-year increase in net profit to ₹546.36 crore, its net interest income (NII) grew at a relatively modest pace of 5% to ₹1,502 crore. Meanwhile, provisions stood at ₹72.3 crore compared with a provision write-back of ₹10.9 crore in the corresponding quarter last year, limiting overall profit growth. Despite improvement in asset quality and healthy loan growth, the relatively slower growth in core interest income and higher provisioning may have contributed to cautious investor sentiment.

Trading volumes stood at 27.5 lakh shares, compared with the 30-day average volume of 23.4 lakh shares.

Tata Teleservices (Maharashtra) Ltd Share Price Drops 5.6%

Tata Teleservices (Maharashtra) Ltd share faced selling pressure on Friday, October 23, and was trading at ₹35.88, down 5.6% from its previous close on the NSE, as investors appeared to book profits following the sharp rally in the previous trading session, driven by the company's Q2 FY27 financial results announced on Thursday. The company reported a significant reduction in its net loss to ₹59.20 crore compared with ₹320.82 crore in the corresponding quarter last year, while revenue from operations increased 8.22% year-on-year to ₹309.65 crore. The improvement was supported by a sharp decline in finance costs. However, despite the improved financial performance, the company continued to report a net loss, while its financial position remained a concern.

Trading volumes stood at 5.7 crore shares, compared with the 30-day average volume of 13 crore shares.