Top Gainers & Losers on April 22: HCL Tech, Tata Elxsi, Infosys, Bajaj Auto, Nykaa, PTC Industries among top losers

The Indian stock market gave up its recent gains in Wednesday’s session (April 22) as a sharp sell-off in technology stocks dragged the key indices lower, while a rebound in crude oil prices also weighed on sentiment.

Markets also awaited clarity on whether the United States and Iran would resume talks to end the conflict. Consequently, the Nifty 50 closed 0.81% lower at 24,378, while the S&P BSE Sensex ended at 78,514, down 0.95% from Tuesday’s close.

There was heavy selling across the technology pack, as weak earnings spooked investors, pulling the Nifty IT index down 3.89%. Nifty Private Bank and Nifty Auto also declined 0.73% and 0.66%, respectively. On the gaining side, Nifty Chemicals, Nifty FMCG, and Nifty Realty each rose over 0.90%.

US President Donald Trump extended the ceasefire with Iran to allow for further peace talks, hours before it was set to expire. However, the announcement appeared to be unilateral, and it was not immediately clear whether Iran or US ally Israel would agree to the extension.

While the US held off on fresh attacks, it maintained its blockade of the Strait of Hormuz, where shipping remains heavily disrupted. US Vice President JD Vance was expected to travel to Pakistan to resume talks with Iran, but representatives from Tehran reportedly refused to attend, citing what they described as unreasonable US demands.

In the commodity market, Brent crude oil futures rebounded to around $100 per barrel after renewed attacks on shipping near Iran.

Tech stocks lead declines, capital markets, auto stocks also under pressure

Today’s top laggards were largely from the technology pack, with HCL Technologies leading the decline, plunging 11% to ₹1,285 apiece after investors reacted negatively to the company’s March quarter performance, released post-market hours on Tuesday.

Tata Elxsi and Persistent Systems also reacted negatively to their Q4 numbers, with each falling 6.4% and 5%, respectively.

Other stocks in the segment, including Hexaware Technologies, Coforge, eClerx Services, Mphasis, Zensar Technologies, Infosys, Tata Consultancy Services, Tech Mahindra, and L&T Technology Services, fell between 2.2% and 7%.

Capital markets stocks also came under selling pressure, with CDSL, Choice International, and ICICI Prudential AMC declining 3%, 2.4%, and 2.2%, respectively.

Similarly, auto stocks such as Mahindra & Mahindra, TVS Motor Company, Bajaj Auto, Hyundai Motor, and Hero MotoCorp dropped up to 3%.

Transformers & Rectifiers saw profit booking following its recent sharp rally, with the stock falling 7.2% to ₹309.30 apiece. Other stocks, including Afcons Infrastructure, PTC Industries, MRF, Syngene International, Nykaa, and Sonata Software, also declined by up to 2%.

Amara Raja, Adani stocks lead gains; FMCG pack trades firm

On the gaining side, Amara Raja Energy & Mobility saw strong buying interest, with its shares surging 16% to ₹897 apiece. Indian Renewable Energy, Piramal Finance, Urban Company, and Data Patterns (India) also posted gains of over 8%.

Reliance Power shares gained momentum after recent weakness, rebounding 6.7% to close at their highest level since early February 2026. Five Adani Group stocks—Adani Energy Solutions, AWL Agri Business, Adani Power, Adani Green Energy, and Adani Total Gas—also closed higher, rising between 2.5% and 8%.

Buying momentum in Kaynes Technology strengthened further, with the stock gaining another 5% to ₹4,461.90 apiece. Meanwhile, Manappuram Finance extended its winning streak to a second session, rising 4.7% to ₹295 apiece.

Among FMCG stocks, Emami, Tata Consumer Products, Hindustan Unilever, United Spirits, Varun Beverages, and Dabur India all closed higher, gaining between 1.5% and 4.2%.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.