Top gainers and losers today: Stocks that moved the most on March 12

Top gainers and losers today: Stocks that moved the most on March 12

Domestic stock markets remained volatile on March 12, closing flat as global trade uncertainties and US recession fears dampened sentiment. The Sensex dipped 72.56 points (-0.10%) to 74,029.76, while the Nifty slipped 27.40 points (-0.12%) to 22,470.50.

Broader markets struggled, with BSE Midcap and Smallcap indices dropping 0.5%. Auto, banking, and pharma stocks provided some support, each rising 0.5%, but metal, IT, realty, telecom, PSU banks, and media sectors saw declines of 0.5-3%. While valuations have normalized to 5-year averages, market sentiment remains cautious as investors navigate economic uncertainty and await stronger domestic triggers.

Top Gainers

IndusInd Bank

After a brutal 27% crash in the previous session, IndusInd Bank saw a six percent rebound as investors assessed the fallout from the bank’s derivatives portfolio discrepancies. While concerns remain, bargain hunters and short-covering drove the stock higher. The bank had been under pressure following the revelation of potential mismatches in its trading book, but the recovery suggests that investors see limited long-term damage.

Banking Sector

Despite weakness in broader indices, banking stocks rallied in the range of a percent, helping Nifty Bank recover after a two-day losing streak. The buying interest in financial stocks signals some resilience in the sector, even as global macroeconomic conditions remain uncertain. Investors seem to be focusing on strong credit growth and stable asset quality trends in leading private and PSU banks.

Ola Electric

Ola Electric shares rose 2% after the company announced the successful completion of its company-wide cost-reduction initiative, titled the ‘Network Transformation and Opex Reduction Programme.’ The initiative is aimed at streamlining operations and optimizing costs, which the company believes will help its automotive segment achieve EBITDA breakeven by Q1 FY26.

Tata Motors

Shares of Tata Motors surged over 3% on March 12, emerging as one of the top Sensex gainers and providing a strong boost to the BSE Auto index. The rally was fueled by a series of positive brokerage reports, which reinforced investor confidence in the company's growth trajectory.

Top Losers 

IT Stocks

The Nifty IT index plunged nearly 2%, marking its lowest level since July 2024 and extending its 16% YTD decline. Infosys and Wipro led the sell-off amid growing fears that a slowdown in US client spending could impact revenue growth for Indian IT firms. Global investment bank Morgan Stanley issued a bearish note, citing risks from a shifting macroeconomic environment and technological disruptions, adding pressure on valuations.

Gensol Engineering

Gensol Engineering continued its downward spiral, declining 5% throughout the trading session. Since mid-February 2024, the stock has plummeted over 40%, erasing gains for late-stage investors who had entered during the rally. The steep fall follows a series of credit downgrades linked to concerns over the company's financial health.

PB Fintech

PB Fintech, the parent company of Policybazaar, saw its stock tumble over 5% after announcing a Rs 696 crore investment in its subsidiary PB Healthcare Services. While the move is aimed at expanding the company’s healthcare-related business, investors were not convinced about its immediate impact on profitability. The market reaction suggests that investors may be concerned about the capital allocation strategy and the timeline for returns on investment.

Capital Market Firms

Stocks of capital market firms came under pressure after data revealed that equity mutual fund inflows dropped 26% in February, reflecting increased investor caution amid market volatility. HDFC AMC, CAMS, and Angel One were among the worst affected, as lower inflows could impact future revenue growth for asset management and brokerage firms.

Kaynes Tech

Shares of Kaynes Technology witnessed a sharp 8% decline in early trade on March 12, following news that the Securities and Exchange Board of India (SEBI) issued a show-cause notice to the company’s Managing Director, Ramesh Kunhikannan, over insider trading allegations. However, the stock managed to recover some losses later in the session as investors assessed the potential impact of the regulatory action.