Top Gainers & Losers on April 07: Wipro, NMDC Steel, Vedanta, Zen Tech, Jindal Steel, HCL Tech among top gainers

The banking sector is currently volatile, with PSU banks underperforming while the broader market awaits the RBI's monetary policy decision. The RBI is widely expected to keep rates steady, but its forward guidance on inflation and growth will be critical for banking sector outlook.

Maintain a cautious stance on PSU banks, looking for clarity from RBI's commentary on NIM and asset quality. Consider short-term long positions in IT stocks given recent outperformance.

For Indian markets, this story mainly matters for WIPRO, NMDCSTEEL, VEDANTA and the Information Technology, Metals & Mining, Banking pocket. The current signal is mixed, so traders should look for follow-through in price, volume, and sector breadth instead of reacting to the headline alone.

Watch whether the next market session confirms the setup described here: Mentioned as a top gainer, part of the Nifty IT sector which led gains. Mentioned as a top gainer. Also track volume confirmation, sector participation, and whether the move holds beyond the first reaction.

• •Indian stock market gained on April 6th, with Nifty 50 up 0.68% and S&P BSE Sensex up 0.69%.
• •Nifty IT led sector gains at 2.5%.
• •PSU banks fell by 0.72%.
• •Investors are awaiting the RBI policy decision.
• •Wipro, NMDC Steel, Vedanta, Zen Tech, Jindal Steel, HCL Tech were among top gainers.