Domestic indices trade slightly in red in late morning deals

Domestic equity indices erased all gains and were trading slightly in red in late morning deals on account of selling in Bharat Electronics, Bajaj Finance, Bajaj Finserv, ITC and HDFC Bank companies’ stocks. Sentiments were weak as India’s industrial production growth, measured in terms of the Index of Industrial Production (IIP), slowed to an 8-month low of 2.7 per cent in April 2025 due to poor performance of manufacturing, mining and power sectors. However, losses were limited as a private report said that India's economy is estimated to have grown by 7 per cent year over year in the fourth quarter of the financial year 2025. This marked a stronger growth momentum in the second half of the financial year compared to the first half, powered by a rise in government spending and a pick-up in rural demand, domestic travel and services exports. On the sectoral front, traders were seen pilling up positions in Metal, IT, Basic Materials, TECK and Consumer Disc, while selling was witnessed in Bankex, FMCG, Oil & Gas, PSU and Energy. 

On the global front, Asian markets were trading mostly in green after a U.S. federal trade court ruled that President Donald Trump exceeded his authority with his reciprocal tariffs, dealing a blow to a major tenet of the president’s economic agenda. Back home, in the stock specific development, LTIMindtree rose after the company and Aramco Digital have launched NextEra, a next-generation IT services company headquartered in the Kingdom of Saudi Arabia.

The BSE Sensex is currently trading at 81273.54, down by 38.78 points or 0.05% after trading in a range of 81212.79 and 81816.89. There were 18 stocks advancing against 12 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.19%, while Small cap index up by 0.23%.

The top gaining sectoral indices on the BSE were Metal up by 0.80%, IT up by 0.57%, Basic Materials up by 0.48%, TECK up by 0.41%, Consumer Disc up by 0.29%, while Bankex down by 0.34%, FMCG down by 0.26%, Oil & Gas down by 0.22%, PSU down by 0.14% and Energy down by 0.06% were the top losing indices on BSE.

The top gainers on the Sensex were Eternal up by 1.61%, Sun Pharma up by 1.36%, Tata Steel up by 1.18%, Tata Motors up by 0.84% and Trent up by 0.78%. On the flip side, Bharat Electronics down by 0.96%, Bajaj Finance down by 0.92%, Bajaj Finserv down by 0.86%, ITC down by 0.64% and HDFC Bank down by 0.64% were the top losers.

Meanwhile, with the increasing adoption of electric vehicles and green hydrogen segments along with strengthening of data centre capacity, the rating agency ICRA is eyeing country’s power demand to grow in the range of 6-6.5 per cent over the next five years. It added that these three segments are expected to contribute to 20 to 25 per cent of the incremental demand over the next five-year period from FY2026 to FY2030.

It also projected that the generation capacity addition to reach an all-time high of 44 GW in FY2026, a sharp step up from the previous high of 34 GW in FY2025, with the overall installed power generation capacity reaching close to 520 GW by March 2026. Meanwhile, it noted that the growth in demand for grid capacity is expected to be offset to some extent by the rising adoption of rooftop solar and off-grid projects, driven by schemes such as the Pradhan Mantri Surya Ghar Yojana.

ICRA noted that thermal segment to add 9 to10 GW capacity in FY2026, with the balance largely contributed by the RE (renewable energy) segment. It also noted that while RE will remain the key driver of the generation capacity addition, going forward, the thermal segment has seen an increase in under-construction capacity over the past 12 months and currently stands at over 40 GW. Additionally, ICRA has maintained a stable outlook on the thermal power segment.  

The CNX Nifty is currently trading at 24728.95, down by 23.50 points or 0.09% after trading in a range of 24708.65 and 24889.70. There were 28 stocks advancing against 22 stocks declining on the index.

The top gainers on Nifty were Eternal up by 1.60%, Sun Pharma up by 1.26%, Indusind Bank up by 1.21%, Tata Steel up by 1.12% and Wipro up by 1.05%. On the flip side, Tata Consumer down by 1.62%, JIO Financial down by 1.17%, Bharat Electronics down by 1.01%, Bajaj Finserv down by 0.90% and Bajaj Finance down by 0.87% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 257.37 points or 1.11% to 23,515.68, Shanghai Composite strengthened 23.59 points or 0.71% to 3,363.52, KOSPI increased 47.38 points or 1.77% to 2,717.53 and Nikkei 225 surged 705.33 points or 1.87% to 38,427.73. However, Straits Times fell 12.02 points or 0.31% to 3,899.90 and Taiwan Weighted lost 10.42 points or 0.05% to 21,347.30.