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Indian equity markets are likely to make a cautious start on Friday, tracking mixed cues from global markets. Traders are likely to adopt a wait-and-watch approach ahead of the release of India’s Q2 GDP growth data and the industrial production data for October.

Some of the key factors to be watched:

GST rate rationalisation boosts consumption: Finance ministry report said that the GST rate rationalisation gave a ‘measurable’ boost to consumption, and the Indian economy is on a stable footing to navigate risks and maintain growth momentum through the current fiscal.

India’s House Price Index up 2.2% annually in Q2: Reserve Bank data said that the All-India House Price Index (HPI) based on transactions in 18 major cities increased at a slower pace of 2.2 per cent in the second quarter of the current fiscal compared to 7 per cent in the year-ago period.

Indian envoy discusses mutually beneficial trade deal with US official: India's Ambassador to the United States, Vinay Mohan Kwatra, met US Under Secretary of State Jacob S Helberg and discussed a mutually beneficial trade deal and technology cooperation.

Textiles stocks will be in limelight: The government has approved the Rs 305 crore Tex-RAMPS scheme to promote research and innovation in the textiles sector.

Telcom stocks will be in focus: Industry body Cellular Operators Association of India (COAI) said telecom operators expect the government to review and harmonise sector-specific regulations with the DPDP framework to reduce ambiguity, facilitate smooth transition, and avoid duplication of processes.

On the global front: The US markets remained closed on Thursday on account of Thanksgiving Holiday. Asian markets are trading mostly in green on Friday, amid rising optimism that the Federal Reserve will lower interest rates by 25 basis points in December.

Back home, Indian equity benchmarks hit fresh record highs in intra-day trade but failed to hold on to those levels and ended flat with positive bias on Thursday as market participants were keenly watching tomorrow’s GDP print, along with key events such as the US-India deal and the RBI policy meeting. Finally, the BSE Sensex rose 110.87 points or 0.13% to 85,720.38 and the CNX Nifty was up by 10.25 points or 0.04% to 26,215.55.

Some of the important factors in trade:  

Cabinet approves Rs 7,280 crore scheme to promote manufacturing of sintered REPM: With an aim of enhancing self-reliance and positioning India as a key player in the global Rare Earth Permanent Magnet (REPM) market, the Union Cabinet has approved 'Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets' with an outlay of Rs 7,280 crore. 

Indian economy likely to grow at 6.6% in FY26: The International Monetary Fund (IMF) has said that India's economy is estimated to grow at 6.6 per cent in current financial year (FY26). It noted that the Goods and Services Tax reforms are likely to help cushion the country from the adverse impact of the 50 per cent tariffs imposed by the US. 

India, UAE discuss trade, FTA progress: The commerce ministry has said that India and the UAE have discussed issues related to market access, data sharing, allocation of gold import quota, and anti-dumping matters, services, Rules of Origin, BIS licensing to boost economic ties. 

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