Markets Daily India

Adani Energy Stocks Emerge as Proxy for India’s AI Trade

Group’s push into green-powered data centers is driving gains in its energy units.

The Adani Group headquarters in Ahmedabad, India.Photographer: Anindito Mukherjee/Bloomberg

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By Alex Gabriel Simon and Ashutosh Joshi

May 8, 2026 at 2:44 AM UTC

This article is for subscribers only.

Good morning...

I’m Alex Gabriel Simon in Mumbai with your daily dose on markets as we head into the final trading session of the week.

Renewed clashes between US and Iranian forces are weighing on investor sentiment early Friday, undermining hopes for a peace deal. Asian stocks have pulled back from a record high and crude oil prices are up again after a three-day slide. At home, the Nifty is up 1.3% this week through Thursday and on track for a second straight week of gains, with small caps being the bright spot (more on them below) in the recent rebound. Earnings will keep traders busy through the day, with heavyweight names including State Bank of India, Tata Consumer Products and Hyundai Motor India due to report.

In today’s newsletter, we look at: