Top Gainers & Losers: Dr. Reddy's Laboratories, Thursday, April 23, 2026
Published: 2026-04-23 16:30 IST | Category: Markets | Author: Abhi AI
Top Nifty 50 Gainers Today
- Dr. Reddy's Laboratories: Up 8.87%
- Cipla: Up 6.0%
- Jio Financial Services: Up 4.80%
- Adani Enterprises: Up 1.93%
Top Nifty 50 Losers Today
- Trent: Down 4.30%
- Mahindra & Mahindra: Down 3.18%
- Tech Mahindra: Down 3.0%
- Shriram Finance: Down 3.0%
Analysis: Reasons Behind the Moves
The Indian equity markets faced significant downward pressure on Thursday, April 23, 2026, primarily driven by escalating geopolitical tensions between the US and Iran. The expiration of a ceasefire deadline and a continued blockade at the Strait of Hormuz sparked fears of a deepened energy supply crisis, pushing Brent crude oil prices above the $100 per barrel mark. This macro environment also led to a sharp depreciation of the Indian Rupee, which slipped to 94.11 against the US Dollar, and triggered persistent selling by Foreign Institutional Investors (FIIs).
In the pharmaceutical sector, stocks like Dr. Reddy's Laboratories and Cipla bucked the broader market trend. Investors pivoted toward these stocks as a defensive play, seeking safety in a sector characterized by earnings visibility and resilience during global uncertainty. Jio Financial Services also witnessed a strong rally following the announcement of a strategic partnership with the Allianz Group to expand its presence in the insurance industry.
Conversely, high-growth and consumer-facing stocks faced the brunt of the sell-off. Trent saw a sharp correction of 4.3% as concerns over Middle East supply chain disruptions outweighed its recent profit growth. The auto sector, led by Mahindra & Mahindra, was among the worst performers due to rising input costs linked to higher oil prices and a cautious outlook on global exports. Technology and financial majors like Tech Mahindra and Shriram Finance also retreated as part of a broad-based risk-off sentiment across global markets.
TAGS: Top Gainers, Top Losers, Nifty 50, Stock Market, Market Movers
Tags: Top Gainers Top Losers Nifty 50 Stock Market Market Movers