Top Gainers & Losers: Hindalco Leads Resilient Few, Tuesday, March 31, 2026

Top Nifty 50 Gainers Today

While the market was closed on Tuesday, March 31, 2026, the following stocks emerged as the top performers in the final trading session of the financial year:

• Hindalco: up 2.05%
• Coal India: up 1.22%
• ONGC: up 0.96%
• Power Grid: up 0.21%

Top Nifty 50 Losers Today

The broader market sentiment was overwhelmingly bearish, with the following stocks leading the declines at the close of the 2025-26 fiscal year:

• Bajaj Finance: down 5.01%
• State Bank of India (SBI): down 3.94%
• InterGlobe Aviation (IndiGo): down 3.81%
• Bajaj Finserv: down 3.72%

Analysis: Reasons Behind the Moves

The Indian equity markets faced severe downward pressure as they transitioned into the new financial year. Several key factors contributed to the sharp sell-off observed in the sessions leading up to the March 31 holiday:

• Geopolitical Conflict: The protracted war between the US and Iran, along with broader instability in West Asia, significantly dampened investor sentiment. Concerns over the closure of the Strait of Hormuz fueled fears of supply chain disruptions.
• Surging Crude Oil Prices: Global oil prices spiked above $115 per barrel due to the ongoing conflict. As a major oil importer, India's economy faced heightened concerns regarding inflation and macro stability.
• FPI Exodus: Foreign Portfolio Investors (FPIs) continued to pull capital out of the Indian markets at a record pace. The selling pressure in March was reportedly more intense than that seen during the 2020 pandemic period.
• Trade Policy Concerns: Global markets were rattled by new tariff decisions and trade policies from the US administration, which impacted emerging market outlooks.
• Banking Sector Stress: Financial heavyweights led the market decline as rising funding costs and the potential for increased non-performing assets (NPAs) weighed on the sector. High-beta stocks like Bajaj Finance and major lenders like SBI saw significant selling as investors moved toward defensive assets.

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