Thursday’s trading in Mumbai saw energy stocks steal the spotlight, rallying as much as 15% even as the wider market tumbled. The Nifty Energy Index outperformed with a 1.94% gain by 1:30 PM, emerging as the session’s top gainer amid pervasive selling pressure.
NTPC Green Energy led with a blistering 14.90% surge, trailed by Adani Total Gas (9.99%), NLC India (8.07%), JSW Energy (7.56%), Tata Power (5.43%), Jaiprakash Power (5.42%), Adani Power (5.26%), BHEL (5.14%), Torrent Power (4.84%), Coal India (4.54%), and NTPC (1.91%).
Fundamental drivers are at play, according to Sunny Agarwal of SBI Securities’ research desk. ‘Intense heatwaves nationwide, alongside crude and gas supply hiccups, are set to ramp up grid demand, fueling power stock advances,’ he analyzed.
Escalating Middle East conflicts heighten risks to oil and LPG shipments, nudging households toward electric alternatives like induction cookers. The resultant power demand surge is a windfall for the energy ecosystem.
Benchmarks told a different story: Sensex dipped 246 points or 0.32% to 76,634, Nifty fell 52 points or 0.22% to 23,813. Midcap strength shone through at 56,628 (up 0.30%), contrasting smallcaps’ minor retreat to 16,408.
Investors are closely watching how long this energy boom lasts. With seasonal demands peaking and supply chains under threat, the sector positions itself as a defensive play, potentially reshaping portfolio strategies in uncertain times.