The Indian stock market ended sharply lower on May 29, 2026, as investors witnessed heavy selling pressure across almost all major sectors. The benchmark S&P BSE Sensex declined by 1.44% to close at 74,775.74 points, while the Nifty 50 index slipped 1.54% and settled at 23,538.35 points. The broad market correction also dragged down renewable energy, power, battery storage, and electric mobility stocks, which had shown strong momentum in recent months.
Among the worst-hit stocks in the green energy segment was Praj Industries, which dropped more than 8.3% on both exchanges to close near Rs 351. The sharp decline reflected investor caution in mid-cap renewable and bioenergy-related counters amid weak market sentiment. Electric mobility company Olectra Greentech also faced pressure and declined by over 4% to around Rs 1,176, while Kabra Extrusion recorded a fall of 5.2%.
Battery and energy storage companies also traded in negative territory. Amara Raja Energy & Mobility lost around 2% to 3% and closed at Rs 877.10 on the BSE. Exide Industries, another major battery player, slipped nearly 1.8% to Rs 386.60. Analysts believe that profit booking in battery and EV-related stocks after recent rallies contributed to the correction.
Large-cap energy and utility companies were also affected by the broader market weakness. Reliance Industries declined by more than 2.1% to Rs 1,321.10. State-owned firms such as GAIL and Indian Oil Corporation witnessed losses of over 2.5%, indicating weak investor sentiment in traditional energy stocks as well.
Renewable energy leaders Adani Green Energy and Tata Power ended lower by around 1.2%, while JSW Energy and NTPC Green Energy also closed in the red. Smaller renewable players, including Borosil Renewables, Inox Wind, Sterling and Wilson Renewable Energy, and Websol Energy, recorded declines ranging from 1% to 3.5%.
Despite the bearish trend, a few companies managed to remain positive. Insolation Energy emerged as the top gainer in the renewable space, rising more than 3.5% to Rs 126. Indian Energy Exchange also gained about 1.3%, while Larsen & Toubro added nearly 1%.
Market experts said the correction was largely driven by profit booking, global market uncertainty, and cautious investor sentiment ahead of key economic developments. However, analysts believe India’s long-term renewable energy growth story remains strong due to rising clean energy investments, supportive government policies, and increasing demand for energy transition technologies.
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