Nifty 50 April 6 Review: Reliance Plunges; Trent Leads Higher in Monday’s Recovery 

Mumbai, April 6: Stocks opened sharply lower on Monday as investors dumped stocks on weak Asian cues and amid concerns over escalating tensions in the Middle East. But strong bargain-buying in sectors that were sold off hard on Friday limited losses and helped benchmarks trade firmly higher for most of the session before ending the day in the green.

About ₹35,000 crore worth of shares changed hands on the NSE’s cash market in Nifty 50 stocks at the bell, indicating that participants sold aggressively at the open and bought aggressively later in the day. ₹3,824 crore worth of shares were traded in Reliance Industries during the session, while HDFC Bank was the most traded Nifty 50 scrip by volume with over 4.29 crore shares worth ₹3,262 crore changing hands.

Leading Nifty 50 Gainers: Trent Soars 8%, Financial Stocks Outperform

Of the Nifty 50 stocks, Trent was Monday’s top performer, rising 8% to ₹3,834 on strong institutional buying. SBI Life Insurance climbed 3.74% to ₹1,840 and Titan Company rose 3.58% to ₹4,244 as investors cheered bargain buying in consumption and finance stocks. Adani Enterprises advanced 3.56% to ₹1,899 and Shriram Finance increased 3.50% to ₹922, both outperforming the Nifty 50 benchmark.

Leading Nifty 50 Losers: Reliance Hits Lower Circuit; Only 7 Stocks End in Red

As many as seven Nifty 50 stocks closed lower, underlining that Monday’s fall was largely broad-based. Among the laggards, Reliance Industries was the top loser, plunging 3.30% to ₹1,306. Oil & Natural Gas Corporation declined 2.04%, Max Healthcare lost 1.23% and Eicher Motors (-0.86%) and JSW Steel (-0.77%) tanked amid concerns over a global economic slowdown. HDFC Bank (-0.16%) and Dr Reddy’s Labs (-0.02%) barely dipped into negative territory.

US, Iran in Talks For 45-Day Ceasefire In Gaza War

A report in Axios on Sunday night helped trigger Monday’s sharp intraday recovery in all indices. US officials told Axios that Washington, Tehran and regional mediators are holding discussions on a possible 45-day ceasefire as part of the first phase of a two-step plan to end hostilities in Gaza. Phase one will witness a temporary halt to fighting, according to the report, while phase two will see both parties come to the negotiation table for formal peace talks. “Talks continue,” a White House spokesperson told Axios when asked about the ceasefire talks. The State Department also declined to comment on the report, which investors clearly welcomed, sending MNC heavyweights sharply higher.

Leading Nifty Next 50 Gainers: Adani Green Jumps 7.94%; Bank of Baroda Up 4.38%

Adani Green Energy led the Nifty Next 50 stocks higher, jumping 7.94% to ₹924 on volume of 1.31 crore shares. Adani Energy Solutions (+5.14% at ₹990), Bank of Baroda (+4.38% at ₹260), Bosch (+3.97% at ₹33,410) and D-Mart (+3.96% at ₹4,535) were among the biggest gainers among largecaps. Among losers, VBL sank 0.68%, Hyundai India declined 0.50%, Divi’s Laboratories fell 0.45% and Tata Power eased 0.36%.

Bank Nifty Outperforms; PSU Banks Rally Harder

Bank Nifty ended the day 2.01% higher at 52,585 as PSU banks outperformed their private sector peers. Bank of Baroda was the top gainer among Bank Nifty constituents, rallying 4.38% to ₹260. Axis Bank (+3.31% at ₹1,237) and Canara Bank (+3.11% at ₹130) also rallied sharply as investors bought state-owned lenders heavily on dips. HDFC Bank advanced 2.66% and Federal Bank gained 2.15%, while PNB jumped 2.12%.

The broader banking index benefited from a sharp cut in geopolitical risk premium, sending all 13 stocks in the Bank Nifty gainers data panel higher. Only four stocks in Bank Nifty ended with losses – Kotak Mahindra Bank (+0.82%), IndusInd Bank (+0.87%), ICICI Bank (+0.21%) and IDFC First Bank (+0.15%).

Sources: 

• https://www.nseindia.com/market-data/top-gainers-losers
• https://www.nseindia.com/market-data/live-equity-market?symbol=NIFTY%20PSU%20BANK
• https://www.nseindia.com/market-data/live-equity-market?symbol=NIFTY%20REALTY