Indian equity benchmarks rallied sharply on April 11, with the Sensex jumping 1,310 points or 1.77% to 75,157.26 and the Nifty surging 429 points, a 1.92% rise, taking it to 22,828.55.
All sectoral indices closed in the green, with the Metal index leading with a 4% gain while Auto, Oil & Gas, Power, PSU, Telecom, and Pharma each rose 2%. The BSE Midcap index advanced 1.8%, while Smallcap index jumped 3%.
IT major TCS missed Street estimates, keeping the shares under pressure, even though optimism around order book growth in the second half of FY26 remains intact. On the domestic front, softening interest rates and a benign inflation backdrop prompted analysts to suggest a balanced portfolio for a better long-term risk-reward.
Top Gainers
VIP Clothing surged 11% after announcing a merger with quick-commerce platform Zepto. The move aligns with VIP’s digital-first strategy, expanding product availability across Mumbai, Delhi NCR, Bengaluru, and Chennai.
Aurionpro Solutions jumped over 15% after acquiring Hyderabad-based Fintra Software. The deal strengthens its next-gen trade finance solutions for global banks and includes all IP rights and associated resources.
Nippon Life shares rose over 5%, HDFC AMC gained nearly 5%, and Motilal Oswal Financial Services climbed more than 3%, as SIP inflows remained resilient despite global uncertainties.
Nifty Metal Index surged over 4%, buoyed by the US government's suspension of the 26% reciprocal tariff in India until July 9, 2025. The base 10% tariff remains, but the move still boosted investor sentiment. Hindalco (6.44%), JSW Steel (+4.73%) and Tata Steel (4.91%).
Nifty Pharma Index climbed around 2.5%, riding on optimism post the tariff pause. Granules led gains with a 5% jump, while Lupin and Zydus Life added nearly 3% each. Natco Pharma, Dr Reddy’s Labs, Gland Pharma, and Torrent Pharma also rose around 2%.
Top Losers
Muthoot Finance plunged over 6% after the RBI released draft guidelines on gold-backed loans, triggering heavy intraday volatility. Kotak Institutional Equities downgraded the stock to ‘Add’ and lowered the target price to Rs 2,400.
Paint stocks gave up recent gains as subsidised crude and softer petroleum prices eased input cost concerns. Asian Paints slipped 0.6%, while Berger Paints declined 1.3%.
TCS extended its fall by 0.9%, following a disappointing Q4FY25 earnings release that missed street expectations on both revenue and margins. Despite this, domestic brokerages remain bullish on the IT major, citing strong deal wins and FY26 visibility.
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