Adani Green, Suzlon, BHEL, others among top gainers as 94% of BSE 200 stocks end higher in April

According to the latest India Strategy note by Motilal Oswal Financial Services (MOFSL), in April 2026, about 187 of BSE 200 stocks closed higher, fuelled by domestic buying and sector-specific tailwinds. 

Top BSE 200 gainers

Leading the spectacular surge as the top BSE 200 gainers were the Adani Group stocks. Adani Green Energy Ltd topped the charts with around a 52% gain for the month. It was followed closely by Adani Power Ltd, which surged 47%, and Oracle Financial Services Ltd, which recorded a 45% jump.  

According to MOFSL note, other top movers in the list of the highest gainers included Adani Energy Solutions Ltd and Bharat Heavy Electricals Ltd (BHEL), both climbing 44%. They were followed by renewable energy retail favorite Suzlon Energy Ltd at 40% gain, Lloyds Metals at 39%, Hitachi Energy at 38%, and Varun Beverages Ltd, which saw a 34% uptick.  

FII vs DII

MOFSL also pointed out that in April, DIIs have invested $5.4 billion extending their buying streak to 33 consecutive months. This massive domestic liquidity absorbed the selling pressure from foreign investors, as the FII exodus continues with net outflows of approximately $5 billion during the month. 

From a sectoral lens, Defence was the standout, jumping 24% month-on-month. Real Estate and Capital Goods were also wealth creators, logging 22% and 20% gains, respectively for the month, MOFSL noted

However, a fraction of the BSE 200 index missed out on the rally. “About 6% of BSE-200 constituents end lower in Apr 26,” MOFSL highlighted that only 14 companies closed in the red. Among those left behind in April were United Breweries, Astral, and Supreme Industries, which stood out as the top laggards.