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Indian equity markets are likely to make cautious start on Tuesday, amid mixed global cues. Traders are likely to remain cautious as U.S. President Donald Trump has announced that his administration will impose 25 percent tariffs on all medium and heavy-duty trucks coming into the US starting November 1. 

Some of the key factors to be watched:

India, Qatar to soon finalise contours for trade pact talks: Commerce and Industry Minister Piyush Goyal said that India and Qatar will soon finalise the contours to negotiate a free trade agreement and the pact is expected to be concluded by the middle or third quarter of next year.

FTA talks on with several countries, including Oman, US, EU: Commerce and Industry Minister Piyush Goyal said that India is negotiating free trade agreements (FTAs) with several countries, including Oman, Chile, Peru, the US, and the European Union. The minister said India is now uniting itself with developed countries through these trade agreements.

Trade calculations being overturned by tariff volatility: Trade calculations are being overturned by ‘tariff volatility’ globally, External Affairs Minister S Jaishankar said has against the backdrop of economic disruptions triggered by Washington's policy on trade tariffs.

Small biz NPAs set to rise in FY26 on US tariffs: Domestic rating agency Crisil said that Gross non-performing assets (NPAs) for the banking system's micro, small and medium enterprises portfolio are likely to rise moderately to about 3.9 per cent by FY26-end

India to become top five Maritime Nation by 2047: The Union Minister of Ports, Shipping and Waterways (MoPSW), Sarbananda Sonowal, said that India is moving strongly toward becoming one of the world’s top five maritime nations by 2047.

On the global front: The US markets ended mostly in green on Monday, as semiconductor stocks fuelled the upside trend following the deal between Advanced Micro Devices (AMD) and OpenAI. Asian markets are trading mostly in green on Tuesday, following the mixed cues from Wall Street overnight, with mainland China, Hong Kong and South Korean markets closed for holidays. 

Back home, Indian equity benchmarks rallied for the third consecutive day on Monday, with benchmark Sensex climbing 583 points and the Nifty reclaiming the 25,000-level following value buying in IT, TECK and Banking stocks. Traders overlooked the exchange data showing that Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,583.37 crore on Friday. Finally, the BSE Sensex rose 582.95 points or 0.72% to 81,790.12 and the CNX Nifty was up by 183.40 points or 0.74% to 25,077.65.      

Some of the important factors in trade:

RBI rate cut possibility open, inflation down: A recent report by Crisil Intelligence stated that the Reserve Bank of India (RBI) has kept the possibility of future rate cuts open, with its monetary policy committee (MPC) sharply revising its inflation forecast downwards.

India, Singapore discuss ways to boost trade, investments: Commerce and Industry Minister Piyush Goyal, who was on a three-day official visit to Singapore, met businesses and leaders to discuss ways to boost bilateral trade and investments between the two countries.

India services growth eases in September: A monthly survey stated that the growth of India's services sector eased in September from the recent high in August, as new business and activity expanded at slower rates. The seasonally adjusted HSBC India Services PMI Business Activity Index fell to 60.9 in September, from a 15-year high of 62.9 in August.

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