Top Gainers & Losers Today: Ashok Leyland, Cholamandalam Financial, Adani Green Rally; Oil India, Zydus Wellness, Coal India Fall

The RBI kept the interest rate unchanged but warned of the potential impact of the Iranian crisis on growth and inflation. In spite of the caution expressed by the RBI, positive global sentiments and falling crude oil prices provided a boost to investors' morale.

Top Gainers

Ashok Leyland Share Price Jumps 13% on Easing Crude Oil Prices

Leading manufacturer of commercial vehicles in India, Ashok Leyland, was among the best-performing stocks in the Nifty 500 Index after posting gains of 13%, supported by robust volume.

Volumes surged over 3X compared to its 30-day average, with the daily trading volume reaching 7.26 crore against its 30-day average of 2.38 crore. Such a rally can be attributed mainly to the correction in crude oil prices due to the truce between Iran and US, which will help in lowering costs and enhancing the demand environment.

Fall in crude oil prices will result in lower costs of ownership and improve demand for CVs. Furthermore, the company posted steady improvement in sales with a growth of 5% y-o-y in March and 13% in FY26.

Cholamandalam Financial Holdings Surges 12% Amid Broad-Based Rally

Financial services company Cholamandalam Financial Holdings, which is associated with the Murugappa Group, jumped by 12% during the day, helped by heavy volume buying.

The volume recorded on the stock was nearly 5 lakh, much higher compared to its average volume of 2.48 lakh in the last 30 days. The surge is a reflection of the overall market sentiment due to positive cues emerging from the outside world.

Adani Green Energy Rallies 11% After Legal Relief

Shares of Adani Green Energy Limited, a leading player in renewable energy with emphasis on solar and wind energy production, climbed up 11%, backed by strong support from the shareholders.

Volume of trades was increased to 1.21 crore from the daily average of 37.89 lakh shares for the last 30 days. The primary reason for this positive performance of the shares was a judicial decision whereby a US court accepted a plea of dismissing the charges against Gautam Adani for bribery.

This legal proceeding had been filed by US Security and Exchange Commission for non-compliance of regulations and illegal transactions in relation to the solar projects.

Top Losers

Oil India Falls 3.84% as Crude Prices Decline

Oil India, a state-owned upstream exploration company for oil and gas, was one of the biggest fallers, with a drop of 3.84% to close at ₹463.40.

This drop in the stock price follows the massive drop in the international price of crude oil. As Oil India’s profitability is directly dependent on the crude price, any fall will affect its earnings perspective. The temporary halt in hostilities between Russia and Ukraine has caused an almost 15% fall in the international price of crude oil.

Zydus Wellness Declines 3.28% on Market-Driven Selling

Zydus Wellness, an Indian consumer wellness company whose products range across health, nutrition, and personal care categories, was down by 3.28% at ₹480.30.

Coal India Drops 3.16% Amid Sectoral Weakness

India’s largest coal producer Coal India, which operates in the energy sector, fell by 3.16% to close at ₹448.35.

Reasons for the drop in the share could be attributed to a combination of low energy prices. With crude prices declining and risk aversion decreasing, investors switched from defensive stocks in the energy sector such as coal to growth-oriented stocks.

Conclusion

There is little doubt that the market advance on April 08 was a result of movements in sectors that would see gains amid lower crude oil prices and rising positive sentiment. The rise seen in stocks such as Ashok Leyland, Cholamandalam Financial Holdings, and Adani Green Energy resulted from both macro-level factors and stock-specific news.

Conversely, those such as Oil India, Zydus Wellness, and Coal India saw sell-offs due to declining commodity prices, switching in sectors, or an absence of triggers. In summary, the session provided a strong indication of risk-on trading being favored at present.