Sensex crashes 930 points, but these Indian stocks soared—see which ones defied the tariff storm

On April 4, 2025, Indian equity markets faced their sharpest single-day decline in over two months, as investors digested the shockwaves from newly announced tariffs by the United States government under President Donald Trump. The BSE Sensex fell by 930.67 points, or 1.22%, to end the day at 75,364.69, while the Nifty 50 dropped 345.65 points, or 1.49%, to close at 22,904.45. This broad sell-off reflected growing investor anxiety over how the protectionist move would reshape trade flows, especially for India‘s export-driven sectors like pharmaceuticals, textiles, and information technology.

However, amid the market-wide retreat, a group of twenty resilient stocks defied the pressure and posted notable gains. These outliers not only held their ground but surged in both price and volume, providing a sharp contrast to the prevailing bearish sentiment. For investors, these top gainers offer a lens into where institutional confidence and retail enthusiasm may be converging—even in times of global volatility.

What triggered the sharp drop in Indian stock indices?

The root of the market downturn was a sweeping U.S. trade policy shift, which imposed a 27% tariff on all Indian imports effective April 9, 2025. This action formed part of President Donald Trump’s renewed “America First” economic doctrine, signaling an aggressive stance toward rebalancing perceived global trade inequalities. India, once considered a close trading partner, found itself grouped alongside countries facing retaliatory tariffs over “persistent trade imbalances and unfair market practices.”

The result was immediate and brutal: export-reliant sectors bore the brunt. Pharmaceutical stocks dropped 4.4%, reversing earlier gains fueled by expectations of tariff exemptions. IT companies saw pressure amid fears that U.S. economic slowdowns could delay digital transformation projects and reduce discretionary tech spending. Meanwhile, textile exporters—already squeezed by rising raw material costs—faced margin erosion as U.S.-bound shipments were repriced overnight.

Which 20 stocks gained the most on April 4, 2025?

Amid this turmoil, a carefully watched set of 20 stocks across small, mid, and micro-cap categories posted strong positive returns, led by companies with either domestic exposure, strategic investor narratives, or strong financials.

Bal Pharma Limited surged 11.09% to ₹120.36, with intraday highs of ₹128.74. With 2.59 million shares traded and ₹3,155 lakh in turnover, the rally stood out sharply as most pharma peers fell. Analysts cited niche product lines and low U.S. exposure as key shields.

Ace Integrated Solutions Limited gained 10.32% to close at ₹25.45. The company, with a day high of ₹27.20, saw buying interest on its lean operating model and localised business orientation.

TECIL Chemicals & Hydro Power Limited advanced 9.97%, ending at ₹25.36. Though trading volumes remained modest, investor sentiment pointed to a preference for chemicals with domestic end markets.

Kaveri Seed Company Limited rose 8.83% to ₹1,445.00. The company remains one of India’s largest agri-input players and benefitted from renewed interest in food security and crop yield resilience.

Excel Industries Limited gained 8.07% to ₹1,100.00, driven by its presence in environmentally friendly chemical solutions and government waste treatment contracts.

FAZE Three Autofab Limited rose 8.06% to ₹425.00. The stock’s focus on automotive and technical textiles provided a counterbalance to broader apparel sector weakness.

VIP Clothing Limited jumped 8.05% to ₹33.70. The company moved over 9.5 million shares amid speculation of increased domestic demand and resilience against U.S.-centric export risks.

Manomay Tex India Limited added 6.16% to close at ₹180.00, likely buoyed by a low valuation base and niche presence in denim exports with diversified geographic mix.

Shah Alloys Limited rose 5.77% to ₹56.98. Amid rising interest in small steel manufacturers, investors looked for low-debt plays in infrastructure support materials.

VCL gained 5.48% to ₹0.77. This penny stock saw speculative momentum with volumes topping 496,000 shares, though it remains volatile.

Gujarat Apollo Industries Limited increased 5.38% to ₹370.45. The road construction equipment manufacturer saw ₹456 lakh in turnover as infrastructure themes gained steam.

NIBE Limited closed at ₹1,257.80, a 5.00% gain. The company has recently been linked to solar energy component supply chains, drawing ESG-aligned investors.

SEMAC Consultants Limited held its upper circuit at ₹347.65. Though low volume, it signaled investor attention in niche engineering and design advisory firms.

KITEX Garments Limited added 5.00% to ₹199.20. The children’s wear exporter has diversified beyond the U.S., and its strong manufacturing base cushioned near-term concerns.

SPML Infra Limited moved 5.00% higher to ₹184.59. The stock traded over 1.5 million shares and is part of investor bets on urban water and waste infrastructure contracts.

Windsor Infotech Private Limited (WIPL) closed at ₹170.61 with a 5.00% uptick. The thin volume stock attracted targeted interest possibly due to legacy software assets.

Focus Lighting and Fixtures Limited rose 5.00% to ₹94.50, fueled by a steady uptick in urban lighting solutions and hospitality refurbishments.

Cineline India Limited ended at ₹98.79, up 5.00%. With multiplexes seeing post-pandemic recovery, investors are re-examining players with urban entertainment portfolios.

NACL Industries Limited jumped 5.00% to ₹136.83. Its agrochemical lineup and stable revenue from tier-2 markets attracted risk-adjusted interest.

SUYOG Telematics Limited advanced 5.00% to ₹970.05. As telecom tower demand remains strong with ongoing 5G deployment, Suyog remains in the radar of infra-focused funds.

What broader market trends are shaping investor strategy?

The Indian stock market remains deeply sensitive to global economic volatility, especially from the United States, which remains India’s largest trading partner. The April 2025 decision by the Trump administration to impose across-the-board tariffs on Indian goods has rattled investor confidence and invited a government-level policy response. Although New Delhi has called for trade dialogue, investors fear retaliatory measures or prolonged uncertainty.

Sectors such as pharmaceuticals, textiles, and IT services—each with high export exposure—remain particularly vulnerable. The pharmaceutical industry alone accounted for nearly $50 billion in exports in FY24, with the U.S. being a top buyer. IT firms face headwinds from weaker U.S. corporate spending amid inflation and recessionary risks. Meanwhile, textile companies have been lobbying for exemptions or buffer policies to preserve margin stability.

How are investors responding to sectoral risks and opportunities?

Investors are recalibrating portfolios, with a growing focus on domestically oriented businesses or firms insulated from international trade friction. Agricultural inputs, specialty chemicals, infra developers, and renewable energy suppliers have emerged as preferred plays for risk-averse institutional investors. Mid-caps and small-caps with strong fundamentals and scalable business models are increasingly under the spotlight, while companies with high dollar-denominated revenue are seeing cautious profit booking.

There is also a shift toward a stock-specific strategy instead of index-wide bullishness. The April 4 top gainers reflect a market searching for resilient growth stories—be it Bal Pharma’s niche formulation products, Excel Industries’ waste-to-wealth chemistry, or Kaveri Seed’s high-yield hybrid crops.

As long as geopolitical tensions continue to shape trade policy, Indian equities may remain volatile. However, select stocks with strong domestic demand, policy tailwinds, and minimal forex exposure could remain standout performers, even as global uncertainties persist.