Top Gainers Today 12-Mar-2026: Power & Gas Stocks Surge

Indian benchmark indices ended sharply lower on Thursday, March 12, 2026, amid escalating geopolitical tensions in the Middle East and persistent foreign fund outflows. The Nifty 50 plunged 394.75 points (-1.63%) to close at 23,866.85, while the Sensex tumbled 1,342.27 points (-1.72%) to settle at 76,863.71. Market breadth was negative, with 1,681 stocks advancing against 2,092 declining. Despite the broad-based sell-off that hit auto and banking stocks hard, the power and oil & gas sectors bucked the trend to emerge as the top gainers.

Large Cap Gainers

Mahindra & Mahindra Ltd (-4.23%)

Shares of Mahindra & Mahindra declined sharply due to investor concerns over a potential India-EU Free Trade Agreement. Reports suggesting that India may significantly reduce import duties on cars from the European Union triggered fears of increased competition for domestic automakers, leading to a sell-off in the stock.

ICICI Bank Ltd (-2.19%)

ICICI Bank shares fell amid a broad-based decline in the banking sector, as the Nifty Bank index dropped over 1%. The negative sentiment was fueled by escalating geopolitical tensions, rising crude oil prices, and sustained selling by foreign institutional investors, which prompted widespread profit-taking in major financial stocks.

Reliance Industries Ltd (+0.05%)

Reliance Industries ended with marginal gains, showing resilience in a weak market, primarily due to a rally in the energy sector. The Nifty Oil & Gas index was a top performer as crude oil prices surged above $100 per barrel, which supported investor sentiment for the energy conglomerate.

Mid Cap Gainers

NTPC Green Energy Ltd (+12.58%)

NTPC Green Energy surged as part of a broad rally in power stocks, driven by expectations of increased power demand due to an early summer. The positive momentum was further supported by news that its arm, NTPC Renewable Energy, had declared commercial operation for a 270 MW tranche of its solar project in Gujarat, boosting the company's operational capacity.

Adani Total Gas Ltd (+6.62%)

The stock jumped after the government issued an order prioritising the allocation of domestic gas for piped natural gas (PNG) and compressed natural gas (CNG) sectors. Investors reacted positively to this policy development, which is expected to benefit city gas distribution companies like Adani Total Gas, despite earlier company warnings of potential supply disruptions to industrial clients.

JSW Energy Ltd (+6.29%)

JSW Energy rallied in line with the strong performance of the power sector, which gained on forecasts of higher summer power consumption. The stock's rise was also supported by a bullish outlook from global brokerage Morgan Stanley, which maintained an 'Overweight' rating, citing the company's expansion in green energy and growth in its storage assets.

Small Cap Gainers

KPI Green Energy Ltd (+8.58%)

KPI Green Energy shares climbed sharply following two significant operational updates. The company announced the commissioning of an additional 24.2 MW capacity in its solar project for GUVNL, and its subsidiary executed a Battery Energy Storage Purchase Agreement (BESPA) to develop large-scale BESS projects. These developments signaled strong execution and expansion, boosting investor confidence.

Doms Industries Ltd (+2.96%)

Doms Industries gained on the back of robust trading volumes in a weak market. While there was no specific news catalyst, the stock attracted significant investor interest, leading to a positive closing for the stationery products manufacturer.

Jindal Saw Ltd (+0.43%)

Jindal Saw closed with marginal gains but was among the most actively traded stocks with exceptionally high volume of over 10 crore shares. This indicated heightened investor activity in the counter, even as the broader market sentiment remained negative.

Market Overview

The Indian stock market witnessed a significant downturn on Thursday, with the Sensex closing at 76,863.71, down 1,342.27 points, and the Nifty 50 settling at 23,866.85, a loss of 394.75 points. The sell-off was triggered by a combination of negative global cues, including an escalation in the Iran-Israel conflict which pushed crude oil prices above $100 a barrel, and continued selling by foreign institutional investors.

Sectoral performance was largely negative, with the Nifty Auto, FMCG, and Bank indices being the worst performers. However, the Nifty Energy and Nifty Oil & Gas indices ended in the green, buoyed by the surge in crude prices. The market's negative breadth was confirmed by the advance-decline ratio, as 2,092 stocks fell while only 1,681 advanced on the NSE.

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https://www.multibagg.ai/market-movers/top-gainers