Indian equity markets pared some losses in late afternoon session supported by gains in Titan after it reported 35.36% year-on-year rise in its Q4FY26 consolidated net profit at Rs 1,179 crore. However, the markets continued to trade below the neutral lines as tension in West Asia re-emerged after United States and Iran exchanged fire in the Strait of Hormuz amid fragile cease fire. Besides, traders remained cautious as foreign institutional investors (FIIs) continued to pull out funds from Indian markets. FIIs were the net sellers of equities worth Rs 340.89 crore on May 7, 2026.
On the global front, Asian equity markets were trading mostly in red tracking negative cues from US markets overnight. European equity markets were trading lower as escalating U.S.-Iran tensions weighed on investors' risk appetite.
The BSE Sensex is currently trading at 77416.50, down by 428.02 points or 0.55% after trading in a range of 77146.43 and 77647.44. There were 14 stocks advancing against 16 stocks declining on the index.
The top gaining sectoral indices on the BSE were Consumer Durables up by 2.52%, IT up by 1.44%, TECK up by 1.07%, Healthcare up by 0.55% and Consumer Discretionary up by 0.40%, while PSU down by 1.54%, Bankex down by 1.20%, Oil & Gas down by 1.04%, Energy down by 0.99% and Metal down by 0.54% were the top losing indices on BSE.
The top gainers on the Sensex were Titan Company up by 6.19%, Asian Paints up by 2.79%, Adani Ports & SEZ up by 1.80%, Infosys up by 1.70% and HCL Technologies up by 1.50%. On the flip side, SBI down by 6.06%, HDFC Bank down by 2.03%, Axis Bank down by 1.90%, Bajaj Finance down by 1.47% and Ultratech Cement down by 1.32% were the top losers.
Meanwhile, rating agency ICRA in its latest report has said that the power demand is likely to increase by 5.0-5.5% in 2026-27 against a tepid around 1% in 2025-26, supported by the agricultural and household sectors given the expectation of sub-par rainfall amidst a potential El Nino, along with demand from industries as well as from emerging sources like electric vehicles and data centres.
The agency noted that the all-India thermal plant load factor (PLF) level fell to 65-66% in 2025-26 amid demand moderation and is likely to remain around 65% in 2026-27, given the healthy growth in generation expected from the renewable sources and 6-GW capacity addition likely in the thermal segment.
It further said that the slowdown in demand growth and significant increase in supply amid healthy addition in RE capacity resulted in moderation in the average spot power tariffs in the day ahead market (DAM) of the Indian Energy Exchange to Rs. 3.8 per unit in 2025-26 from Rs. 4.4 per unit in 2024-25. Besides, the coal stock level for the domestic power plants has been comfortable at around 19 days as on April 8, 2026, following improved local supply.
As per the report, the book losses of the distribution companies at the all-India level improved in 2024-25 over 2023-24 with moderation in the gap between cost of supply and tariff realisation. The gross debt for state-owned discoms reduced to Rs. 7.1 trillion as of March 2025 from Rs. 7.4 trillion as of March 2024. However, such high debt levels are unsustainable for discoms, given their current revenues and profitability.
The CNX Nifty is currently trading at 24195.45, down by 131.20 points or 0.54% after trading in a range of 24126.65 and 24253.80. There were 23 stocks advancing against 27 stocks declining on the index.
The top gainers on Nifty were Titan Company up by 6.25%, Apollo Hospitals Enterprise up by 3.20%, Asian Paints up by 2.73%, Tata Consumer Products up by 2.22% and Adani Ports & SEZ up by 1.69%. On the flip side, SBI down by 6.00%, Coal India down by 2.26%, HDFC Bank down by 2.10%, Axis Bank down by 1.91% and Bajaj Finance down by 1.55% were the top losers.
Asian equity markets were trading mostly in red; Nikkei 225 slipped 220.84 points or 0.35% to 62,613.00, Taiwan Weighted lost 329.84 points or 0.79% to 41,603.94, Hang Seng declined 243.28 points or 0.92% to 26,383.00, Straits Times fell 14 points or 0.28% to 4,927.96, Shanghai Composite weakened 0.14 points or 0% to 4,179.95 and Jakarta Composite plunged 177.59 points or 2.48% to 6,996.73, while KOSPI increased 7.95 points or 0.11% to 7,498.00.
European equity markets were trading lower; UK’s FTSE 100 decreased 57.65 points or 0.56% to 10,219.30, Germany’s DAX lost 267.31 points or 1.08% to 24,396.30 and France’s CAC fell 70.05 points or 0.85% to 8,132.03.
