IT Stocks Top Nifty Gainers; Pharma, Paint Stocks Among Top Losers on Rough Thursday 

Mumbai, April 2: Today HCL Technologies was the top performer on Nifty 50 Thursday, jumping 3% to ₹1,395 after trading as high as ₹1,412.80 during the session. Strong buying interest persisted for technology stocks throughout Thursday’s session. Tech Mahindra zoomed 2.46% to ₹1,439 after hitting an intraday high of ₹1,447 and Wipro gained 1.89% to ₹194.80 while Infosys climbed 1.71% to ₹1,297.50 – making IT pack the standout of the day. TCS picked up 1.56% to ₹2,445.70 while Tata Consumer Products advanced 2.06% to ₹1,044.90, rounding off a strong performance by consumption and technology stocks.

Bank Nifty stocks also saw buying interest, with HDFC Bank up 1.18% to ₹751, Bajaj Finance rising 1.42% to ₹828.90 and Hindalco adding 1.70% to ₹919.95, tracking buying interest in the metals complex. Maruti Suzuki moved up 0.65% to ₹12,590, Bharti Airtel gained 0.57% to ₹1,792 and Axis Bank climbed 0.42% to ₹1,198.10, lending further strength to the Nifty 50.

Market breadth among blue chips witnessed notable improvement during the second half of the session led by buying interest in IT and financial stocks, which drew steady institutional support through the day.

Eicher Motors, Asian Paints Down

On the flip side, Asian Paints was the worst performer on Nifty 50 Thursday, tumbling 2.49% to ₹2,170.40 after dipping to a low of ₹2,142.40 during the session as defensive consumer stocks saw selling across the board. Eicher Motors was the second-biggest loser on the index, down 2.42% to ₹6,660 after failing to hold its opening breakout level of ₹6,766 while Sun Pharma shed 2.11% to ₹1,692 despite bouncing back from a low of ₹1,620 during the session.

Eternal slid 1.92% to ₹231.99 and Bajaj Auto lost 1.75% to ₹8,740 as two-wheeler and quick-commerce stocks remained in the red. Reliance Industries slumped 1.34% to ₹1,350.90 as it remained weak throughout the session dragging down energy stocks with it.

Asian Indices Lower

Markets on Thursday reacted sharply to geopolitical risks that kept Asian indices lower through much of the session. Nikkei 225 in Japan skidded 2.38% while S&P ASX All Ordinaries in Australia declined 1.25% and Hang Seng in Hong Kong slipped 0.70% with majority of Asian markets trading in the red through the day.

Asian markets came under severe pressure after US President Donald Trump addressed the nation Wednesday night announcing successful operation Epic Fury against Iran, threatening further action against Tehran if needed and delivering stern warnings to Iranian leadership. President Trump’s speech saw stocks ranging from Tokyo to Mumbai trade choppy through the day as investors looked on edge amid uncertainty.

Most equity markets lacked conviction as there was no clear timeline on de-escalation of geopolitical tensions and with Brent crude trading north of $107 a barrel. Indian indices managed to recover in the last hour of trading to end slightly in positive territory.

Source: https://www.nseindia.com/market-data/top-gainers-losers