Top Gainers & Losers: HCL Tech Leads IT Surge, Thursday, April 02, 2026

Top Nifty 50 Gainers Today

• HCL Technologies: up 2.04%
• Tech Mahindra: up 1.32%
• Wipro: up 0.89%
• Nestle India: up 0.88%

Top Nifty 50 Losers Today

• Eternal Ltd: down 4.82%
• InterGlobe Aviation (IndiGo): down 3.96%
• State Bank of India: down 3.70%
• Asian Paints: down 3.16%

Analysis: Reasons Behind the Moves

The Indian equity markets witnessed extreme volatility on Thursday, April 02, 2026. The Nifty 50 initially plummeted over 2% following aggressive geopolitical commentary from US President Donald Trump regarding military objectives in Iran, which sparked a sell-off across Asian indices. However, the domestic market staged a sharp reversal in the afternoon session to finish in green territory.

A primary driver for the recovery was the Indian rupee, which posted its largest single-day gain in over 12 years, rising nearly 2% against the US Dollar. This currency strength, supported by regulatory crackdowns on offshore derivative speculation, provided a significant tailwind for the broader market.

The IT sector emerged as the standout performer, with the Nifty IT index gaining over 2.5%. Leading companies like HCL Technologies and Tech Mahindra saw buying interest as investors sought refuge in export-oriented stocks amid the currency's dramatic shift. Conversely, the aviation sector faced pressure, with InterGlobe Aviation (IndiGo) declining by nearly 4% following an announcement regarding revised fuel charges and rising Brent crude prices, which surged toward $105 per barrel.

Economic data also weighed on certain sectors, as India’s manufacturing PMI for March 2026 fell to a 45-month low of 53.9. This moderation in manufacturing momentum contributed to the underperformance of industrial and banking heavyweights like State Bank of India and Larsen & Toubro earlier in the session.

TAGS: Top Gainers, Top Losers, Nifty 50, Stock Market, Market Movers

Tags: Top Gainers Top Losers Nifty 50 Stock Market Market Movers