opening Bell : Benchmarks likely to make cautious start amid mixed global cues
Indian equity markets are likely to make cautious start on Thursday, tracking mixed global cues amid ongoing uncertainty surrounding potential U.S. tariff measures and the prospects of a U.S.-India trade pact. Traders are likely to adopt a wait-and-watch approach ahead of TCS’ Q1 earnings announcement. However, markets may find some support from foreign fund inflows by Foreign Institutional Investors (FIIs).
Some of the key factors to be watched:
PM Modi holds talks with Namibia President Nandi-Ndaitwah: Prime Minister Narendra Modi held talks with Namibian President Netumbo Nandi-Ndaitwah focused on imparting a new momentum to the bilateral ties.
India, Africa should create future defined not by power and dominance: Underlining that India values Africa's role in world affairs, Prime Minister Narendra Modi has said that the two sides must act together to create a future defined not by power and dominance, but by partnership and dialogue.
FTAs with Australia, UAE, UK to provide greater market access to Indian agri sector: Commerce and Industry Minister Piyush Goyal said that free trade agreements (FTAs) with developed markets such as Australia, UAE and UK will provide greater market access for the domestic agri sector.
RBI issues draft norms for novation of OTC derivative contracts: The Reserve Bank has issued draft guidelines for novation of OTC derivative contracts with a view to rationalising the related regulatory requirements.
Potential to increase agri, fishery exports to Rs 20 lakh crore: Commerce and Industry Minister Piyush Goyal has said that food processing, better quality packaging, and branding can help increase the country's agri and fishery exports to Rs 20 lakh crore.
On the global front: The U.S. markets ended in green on Wednesday, after the minutes from the Fed's mid-June meeting showed support for a rate cut later this year. Asian markets are trading in green on Thursday, as investors weighed renewed trade tensions and signals from the US Federal Reserve.
Back home, Indian equity benchmarks traded in a volatile but in a narrow range and ended marginally lower on Wednesday due to selling in Oil & Gas, Metal and Realty shares. Finally, the BSE Sensex fell 176.43 points or 0.21% to 83,536.08 and the CNX Nifty was down by 46.40 points or 0.18% to 25,476.10.x
Some of the important factors in trade:
Employment Linked Incentive scheme to boost job creation, social security: Regional PF Commissioner-I Randhir Kumar of EPFO has said that the Employment Linked Incentive (ELI) announced in the budget for 2024-25 with an outlay of Rs 1 lakh crore, will promote job creation and provide social security.
India in talks with Australia to source rare earth minerals: Trade and Investment Commissioner, New South Wales Government, Australia, Malini Dutt has said that India is in talks with Australia to source rare earth minerals. The development assumes significance in the wake of rare earth magnet shortage caused by Chinese export restrictions.
Telecom stocks in focus: Telecom stocks were in focus as Telecom Regulatory Authority of India report said that the total number of internet subscribers increased from 954.40 million at the end of Mar-24 to 969.10 million at the end of Mar-25 with yearly rate of growth of 1.54%.
Above views are of the author and not of the website kindly read disclaimer
