Indiana Football Stock Report: 3 Rising, 3 Falling After Ohio State Loss

Indiana's playoff outlook remains strong despite Saturday's loss, but the Hoosiers have some concerns to address as several players see their roles change.

Oct 17, 2026; Bloomington, Indiana, USA; Indiana Hoosiers defensive back Amare Ferrell (1) intercepts a pass in front of Ohio State Buckeyes wide receiver Jeremiah Smith (4) during the second half at Merchants Bank Field at Memorial Stadium. Mandatory Credit: Robert Goddin-Imagn Images | IMAGN IMAGES via Reuters Connect

Indiana football suffered its first loss of the season Saturday against Ohio State, but the Hoosiers' performance offered reasons for optimism alongside a few familiar concerns.

Despite falling to the Buckeyes, Indiana remains firmly in the College Football Playoff picture, and several Hoosiers strengthened their standing in the team's biggest test of the season.

Here are three risers and three fallers in this week's Indiana football stock report.

Rising: Indiana's chances to repeat

It's not often a team loses and moves up in ESPN's Football Power Index rankings, but that's exactly what happened to Indiana.

The Hoosiers climbed two spots in the FPI following their loss to Ohio State, a game that offered some reassurance about their ability to compete with the nation's best.

Questions about whether Indiana could replicate last season's national championship run had followed the Hoosiers through their unbeaten start. Saturday didn't silence every concern, but it showed that Indiana is capable of going toe-to-toe with a championship contender.

The Hoosiers still have a 79.5% chance to reach the College Football Playoff, the third-highest probability in the country, according to ESPN's FPI.

Falling: Special teams

Special teams have typically been a strength under Curt Cignetti. Saturday, they were anything but.

Reigning Big Ten Kicker of the Year Nicolas Radicic missed two field goals, leaving six valuable points on the field in a game Indiana lost by four points.

Punter Billy Gowers also struggled to pin Ohio State deep in its own territory despite several opportunities, while Indiana's punt-return game continued to offer little in the return game.

Charlie Becker has frequently opted for fair catches or allowed punts to bounce, sometimes costing Indiana valuable field position.

For a team with little margin for error against elite competition, special teams can't continue to be a liability.

Rising: Indiana's secondary

Indiana's secondary entered Saturday with plenty to prove. Amare Ferrell, A.J. Harris and Jamari Sharpe answered the challenge.

Ferrell intercepted Ohio State quarterback Julian Sayin twice, while Harris and Sharpe helped keep star receiver Jeremiah Smith from taking over the game.

Sharpe was targeted eight times and allowed just three receptions for 63 yards. He didn't surrender a yard after the catch.

The secondary had been one of Indiana's more concerning defensive units through the first six games. Against one of the country's most dangerous passing attacks, it looked considerably more capable.

Falling: Indiana's running backs

Indiana's rushing struggles are no longer limited to one disappointing afternoon.

After the Hoosiers struggled to establish the ground game against Nebraska, Turbo Richard and Lee Beebe again found little success against Ohio State.

The offensive line deserves some responsibility for the lack of running room, but Indiana's tailbacks aren't blameless.

Neither Richard nor Beebe forced a missed tackle Saturday, the first time this season both were held without one in the same game. The pair also combined to average just 1.8 yards after contact per carry.

Indiana could soon receive a boost with Khobie Martin nearing a return from injury. For now, though, the Hoosiers need more from their backfield.

Rising: Jacob Savage

Jacob Savage's rapid emergence continued Saturday, when the true freshman made his first collegiate start in Indiana's biggest game of the season.

Savage recorded five tackles and half a tackle for loss while playing more snaps than in any previous game this season.

More importantly, his growing role allowed defensive coordinator Bryant Haines to deploy more three-linebacker packages alongside Rolijah Hardy and Isaiah Jones.

Those looks have been a staple of Indiana's dominant defenses in recent seasons, and Savage is giving Haines the personnel to incorporate them more frequently.

For a freshman who was barely part of the defensive equation a few weeks ago, that's quite a leap.

Falling: Indiana's second-year defensive backs

While Ferrell, Harris and Sharpe strengthened their standing Saturday, Byron Baldwin and Jaylen Bell saw their roles shrink.

Baldwin, who has handled much of the work at Indiana's rover position this season, lost playing time as the Hoosiers leaned more heavily on those three-linebacker packages with Savage.

Bell's situation is different. After filling in as the starting cornerback opposite Sharpe during Harris' injury absence, Bell didn't play a defensive snap against Ohio State.

Neither development necessarily reflects poor individual performances. But with Indiana finding success using different personnel combinations, opportunities for both second-year defensive backs could become harder to find.