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

Indian benchmark indices closed in the red on March 12, 2026, with the Nifty 50 falling below 23,800 and the Sensex shedding over 350 points. The market witnessed broad-based selling pressure, particularly in the auto, FMCG, and banking sectors, driven by geopolitical tensions and rising crude oil prices. However, bucking the trend, power and gas stocks saw significant buying interest, leading the day's gainers.

Large Cap Movers

Mahindra & Mahindra Ltd (-4.23%)

Shares of Mahindra & Mahindra fell sharply amid broader weakness in the auto sector. Investor sentiment was dampened by concerns over the proposed India-EU Free Trade Agreement, which could lead to reduced import duties on European cars, potentially increasing competition for domestic manufacturers.

ICICI Bank Ltd (-2.19%)

ICICI Bank declined, reflecting a selloff across the banking sector as the Nifty Bank index fell by over 1%. The negative sentiment was driven by broader market weakness and persistent foreign institutional selling, which weighed on high-beta sectors like banking.

Reliance Industries Ltd (+0.05%)

Reliance Industries ended with marginal gains, showing resilience in a weak market. The stock found support from a rally in the energy and oil & gas sectors, which were among the few gainers of the day due to rising global crude oil prices.

Mid Cap Gainers

NTPC Green Energy Ltd (+12.58%)

NTPC Green Energy surged as power stocks rallied on expectations of higher power demand due to an early summer. The rally was further supported by a positive outlook from Morgan Stanley on thermal coal load pickup and the company's recent announcement of commissioning a 270 MW solar project in Gujarat.

JSW Energy Ltd (+6.29%)

JSW Energy shares climbed, participating in the broader power sector rally. The stock's momentum was also fueled by a positive analyst view, with Morgan Stanley maintaining an 'Overweight' rating on the stock with a price target of Rs 545, citing a strong growth outlook.

Adani Total Gas Ltd (+6.62%)

Adani Total Gas shares rallied for the third consecutive session after the government prioritized the allocation of domestic gas for piped natural gas (PNG) and compressed natural gas (CNG) for transport. This policy move is expected to benefit city gas distribution companies, leading to strong investor buying despite the company's recent warning of supply cuts to industrial clients.

Small Cap Gainers

KPI Green Energy Ltd (+8.58%)

KPI Green Energy shares jumped following two significant positive announcements on March 11. The company commissioned an additional 24.2 MW capacity in its solar project for GUVNL and its subsidiary executed a Battery Energy Storage Purchase Agreement with GUVNL for a 445 MW / 890 MWh project, boosting investor confidence in its growth pipeline.

Doms Industries Ltd (+2.96%)

Doms Industries gained amidst a volatile market, closing nearly 3% higher. The stock saw healthy trading volumes, indicating sustained investor interest in the recently listed stationery products manufacturer.

Jindal Saw Ltd (+0.43%)

Jindal Saw closed with modest gains but was one of the most actively traded stocks of the day. The stock witnessed exceptionally high trading volume of over 10 crore shares, suggesting significant block deals or heightened institutional interest.

Market Overview

Indian equity markets extended their decline on Thursday, with the Sensex closing down 350 points at 76,034.42 and the Nifty 50 settling at 23,639.15, down 0.95%. The selloff was triggered by escalating geopolitical tensions in the Middle East, which pushed crude oil prices above $100 per barrel, fueling inflation concerns and prompting continued selling by foreign institutional investors.

Sectoral performance was divergent. The Nifty Auto index was the top loser, falling over 3%, followed by FMCG and banking stocks, on concerns of rising input costs and margin pressures. In contrast, the Nifty Energy and Nifty Oil & Gas indices were the top performers, gaining nearly 2% each, as rising crude prices benefited energy producers. The broader market also felt the pressure, with the Nifty Midcap 100 and Smallcap 100 indices closing in the red.

Explore More Market Movers

Readers can explore the complete list of market movers here:

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