A firm trade continued over the Dalal Street in early afternoon session, with both Sensex and Nifty holding their heads in green terrain, despite negative cues from other Asian markets amid escalating tensions around the Strait of Hormuz. Heavy buying in IT and TECK stocks helped indices to remain higher. Adding some optimism, the European Union (EU) has included India in its revised draft list for continued export of aquaculture products to the EU market. The earlier regulation had not included India among third countries authorised to export products of animal origin intended for human consumption to the EU from September 2026.
On the global front, All Asian markets were trading lower, as producer prices in Japan were up 2.3 percent on month in April. That was far higher than forecasts for an increase of 0.7 percent and up sharply from the upwardly revised 1.0 percent gain in March (originally 0.8 percent).
Back home, batteries sector stocks were in watch, as industry body Indian Energy Alliance (IESA) has said that demand for electric vehicle (EV) batteries in India is anticipated to expand from 20 GWh in 2025 to 200 GWh by 2032, representing 10 times increase. Citing a study, it said the EV opportunity in India is no longer limited to vehicle manufacturing; the most significant strategic advantages may lie in component localisation and supply chain development as India positions itself as a global manufacturing hub.
The BSE Sensex is currently trading at 75590.33, up by 191.61 points or 0.25% after trading in a range of 75251.15 and 75870.36. There were 20 stocks advancing against 10 stocks declining on the index.
The top gaining sectoral indices on the BSE were IT up by 1.65%, TECK up by 1.59%, Telecom up by 0.80%, FMCG up by 0.80% and Consumer Durables up by 0.41%, while Realty down by 1.42%, Oil & Gas down by 1.41%, Metal down by 1.10%, PSU down by 0.88% and Energy down by 0.85% were the top losing indices on BSE.
The top gainers on the Sensex were Infosys up by 2.57%, Tech Mahindra up by 2.46%, Adani Ports & SEZ up by 2.37%, TCS up by 1.82% and Kotak Mahindra Bank up by 1.68%. On the flip side, Reliance Industries down by 1.89%, Trent down by 1.70%, SBI down by 1.13%, Ultratech Cement down by 0.98% and Tata Steel down by 0.97% were the top losers.
Meanwhile, rating agency Crisil has said that the assets under management (AUM) of the Road infrastructure investment trusts (InvITs) is likely to grow by around 30% in fiscal 2027 (FY27) to Rs 3.9 lakh crore from Rs 3.9 lakh crore in FY26. Further, the growth will be fuelled by monetisation of toll road assets by the National Highways Authority of India (NHAI) and continued traction on hybrid annuity model (HAM) asset sale by road developers. Besides, increased asset diversification in InvIT portfolios across both geography and concession types will support the growth and enhance their resilience. Also, a widening investor pool and controlled leverage will keep credit profiles strong.
It noted that for the past two fiscals the AUM of road InvITs grew over 25% annually with toll road assets dominating the AUM mix, forming around 85% of the AUM. It said that the toll road assets provide an opportunity to participate in India’s economic growth through rising traffic, coupled with inflation-indexed toll rate hikes. Crisil pointed that the toll asset addition will largely come from investors flipping the historically acquired toll assets into InvITs and NHAI's national monetisation pipeline 2.0.
It highlighted that the growth in the road InvIT may push the leverage towards upside with estimated debt-to-enterprise value ratio inching up by 100-150 basis points by March 2027 from around 45% currently. Consequently, the average debt service coverage ratio, which currently stands comfortable at 1.7-1.8 times, could see a marginal decline but is still expected to remain strong which will keep credit risk profiles of road InvITs stable.
The CNX Nifty is currently trading at 23767.50, up by 77.90 points or 0.33% after trading in a range of 23663.35 and 23839.30. There were 30 stocks advancing against 20 stocks declining on the index.
The top gainers on Nifty were Tata Motors Passenger up by 6.21%, Infosys up by 2.47%, Tech Mahindra up by 2.40%, Adani Ports & SEZ up by 2.31% and Coal India up by 2.30%. On the flip side, Hindalco down by 2.21%, Reliance Industries down by 1.92%, Trent down by 1.83%, SBI down by 1.16% and Tata Steel down by 1.11% were the top losers.
All Asian markets were trading lower; KOSPI dropped 488.23 points or 6.52% to 7,493.18, Hang Seng declined 408.04 points or 1.55% to 25,981.00, Shanghai Composite weakened 42.53 points or 1.03% to 4,135.39, Taiwan Weighted lost 579.39 points or 1.41% to 41,172.36, Nikkei 225 slipped 1649.05 points or 2.7% to 61,005.00 and Straits Times fell 4.66 points or 0.09% to 4,991.28.
