Indian Stock Market Update: Top Gainers and Losers for April 06 Include Zydus Wellness, Trent and Gravita India

Indian Stock Market Posts Strong Gains Amid Reports of Iran-US Hostility Framework

The Indian stock market experienced a significant reversal in sentiment on Monday, April 6, as the Nifty 50 and Sensex indices surged 1% each to close at 74,106 and 74,106, respectively. This marked the biggest single-day jump for the Nifty 50 in three weeks. The broader markets also staged a strong recovery, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising over 1.3%.

According to reports from Reuters, a framework to end hostilities between Iran and the United States has been put together by Pakistan and shared with Iran and the U.S. overnight. The proposal, tentatively dubbed the "Islamabad Accord," outlines a two-tier approach, with an immediate ceasefire followed by a comprehensive agreement. Under the plan, a ceasefire would take effect immediately, leading to the reopening of the Strait of Hormuz, with 15-20 days allocated to finalize a broader settlement.

The deal would include a regional framework for the strait, with final in-person talks to be held in Islamabad. Iranian officials have previously told Reuters that Tehran was seeking a permanent ceasefire with guarantees that they will not be attacked again by the U.S. and Israel.

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Key Performers

Zydus Wellness emerged as the top performer in the Nifty 500 pack, surging 15% to ₹510 apiece, marking its biggest single-day spike in 17 years, on the back of a sharp rise in trading volumes.

Other Nifty 500 stocks that closed over 5% higher included Gravita India, Sobha, Neuland Laboratories, PTC Industries, Indian Energy Exchange, Vishal Mega Mart, Adani Energy Solutions, Godrej Properties, EIH, and Axtel Chemicals.

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Granules India also gained 5.7% to ₹648 apiece after its wholly owned subsidiary, Granules Life Sciences, received a Voluntary Action Indicated (VAI) classification following an inspection by the US Food and Drug Administration.

Capital market stocks such as BSE and MCX gained over 4% each, while new-age tech stocks Groww, Nykaa, and Honasa Consumer closed higher by 3%, 2.5%, and 1%, respectively.

In the metals space, NMDC, Lloyds Metals & Energy, SAIL, Welspun Corp, Hindustan Zinc, Hindustan Copper, and NALCO ended the session with gains ranging between 1.5% and 4.5%.

Losers

IRB Infrastructure Developers emerged as the top laggard, falling 5.2% to ₹20.7 apiece, while Chennai Petroleum, Latent View Analytics, Reliance Industries, and Jain Resource Recycling declined between 3% and 5%. Tata Chemicals also faced renewed selling pressure, slipping 2.71% to ₹634 apiece, erasing its recent gains. Other losers included GE Vernova T&D India, Atul, Piramal Finance, Ipca Laboratories, AWL Agri Business, Linde India, Kalpataru Projects, Astral, and ONGC.