GM Breweries tops the October charts with a 75% gain as the indices break their winning streak. Check out other monthly winners

Indian shares ended October on a subdued note, snapping a four-week winning streak, while benchmark indices closed marginally lower amid profit booking and mixed global cues. The tone remained largely positive and volatile throughout the first three sessions; However, profit-taking in the latter part of the week erased early gains and pushed the indices close to their weekly lows.

Market sentiment was driven by a mix of domestic strength and global caution all week. On the domestic front, India’s industrial production rose 4% year-on-year in September 2025, driven by improved manufacturing activity, compared to 3.2% growth in the same period a year ago.

In addition, China granted licenses to Indian companies to import rare earth magnets, a move that was interpreted as an attempt to improve bilateral trade.

Global caution returned after the US Federal Reserve cut rates by 25 basis points to the 3.75% to 4.00% range amid suggestions this could be the last cut of 2025.

Nevertheless, steady corporate profits and continued FII inflows helped support the domestic market. Sector performance was mixed: Metals, Energy and Real Estate outperformed, while Auto, Pharmaceuticals and IT suffered profit-taking.

The broader indices continued to perform well, with the Midcap index up 1% and the Smallcap index up 0.7%. Despite the volatility, several stocks stood out with strong monthly gains across all market segments.

Top performers in the BSE 500 universe

Within the broader BSE 500 universe, SpiceJet topped the chart with a monthly gain of 29.36%. It was followed by HLE Glascoat, which rose 27.53%, and Mangalore Refinery and Petrochemicals, which rose 25.39%.

Other notable gainers included Federal Bank up 22.67%, GMM Pfaudler up 21.42% and Hatsun Agro Product up 21.32%.

Several other names, such as Thyrocare Technologies, Infibeam Avenues and AU Small Finance Bank, posted monthly gains of around 20% or more.

Midcap winners

Among mid-cap stocks, Persistent Systems came out on top with a monthly gain of 22.60%, closely followed by Federal Bank with 22.67%. AU Small Finance Bank was also on this list, gaining 20.02% during the month.

Other components such as IDFC First Bank, Whirlpool of India, Tata Communications and Prestige Estates Projects posted gains ranging from 15% to 17%.

Small cap standouts

The small cap sector once again captured investors’ attention, with some of the sharpest gains.

GM Breweries topped the list with a monthly return of 74.77%, followed by Lancer Container Lines, which rose 56.90%, and Share India Securities, which rose 44.92%.

Other prominent performers included Indo Thai Securities (43.84%), MTAR Technologies (37.57%) and Mufin Green Finance (34.27%). A host of others, such as TD Power Systems, Inox Green Energy Services, Sky Gold and Diamonds, and Rajratan Global Wire, posted gains of more than 30% for the month.

Also read: ‘Dumb money chases dumb IPOs’: Shankar Sharma on Indian public markets amid Lenskart rumors

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