Opening Bell : Benchmarks likely to make cautious start on Friday
Indian equity markets are likely to make 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 Industrial Production data in the coming week. However, some support may come from a statement by think tank GTRI, which said that India’s goods and services exports are likely to grow by 3 per cent to $850 billion in 2025-26.
Some of the key factors to be watched:
Exports likely to grow by 3% to $850 billion this fiscal: Think tank GTRI said India's goods and services exports are likely to grow by 3 per cent to $850 billion in 2025-26. In 2024-25, the overall exports touched $825 billion ($438 billion in merchandise and $387 billion in services).
FTAs to open overseas opportunities for Indian professionals: Commerce Secretary Rajesh Agrawal has said that legally binding commitments on professional services such as chartered accountants, doctors and architects under various Free Trade Agreements (FTAs) signed by India will help open up overseas opportunities for these professionals.
India to become self-reliant in semiconductors soon: Union Home Minister Amit Shah has said that India's entry into the semiconductor industry was ‘strong’ though a bit late, but the country would soon be self-reliant in the sector and even start exporting.
Indian exporters can help New Zealand cut China dependence, boost shipments: Think tank GTRI said that Indian exporters in various sectors like agriculture, petroleum, pharma, apparel, electronics and auto have potential not only to scale up shipments to New Zealand but also help the island nation reduce its dependence on China.
CII urges government to push institutional reforms: Industry body Confederation of Indian Industry (CII) has urged the government to push institutional reforms and fiscal consolidation in the forthcoming budget to maintain India's growth momentum.
On the global front: The US markets remain closed on Thursday in observance of the Christmas holiday. Asian markets are trading mostly in green on Friday, following the positive cues from Wall Street on Wednesday.
Back home, Indian equity benchmarks failed to hold opening gains and ended marginally lower in a volatile trade on Wednesday as trading volumes remained subdued amid the year-end holiday-shortened week and mixed trends in global markets. This decline was also driven by persistent capital withdrawals from foreign investors. Foreign Institutional Investors offloaded equities worth Rs 1,794.80 crore on Tuesday, according to exchange data. Finally, the BSE Sensex fell 116.14 points or 0.14% to 85,408.70 and the CNX Nifty was down by 35.05 points or 0.13% to 26,142.10.
Some of the important factors in trade:
Rupee falls against US Dollar: Indian rupee pared initial gains and settled for the day lower against the US dollar, fuelled by persistent capital withdrawals from foreign investors, alongside heightened greenback demand from bullion importers.
Revised ITR filings cross 15 lakh mark for AY 2025-26: The Central Board of Direct Taxes (CBDT) has said that more than 15 lakh revised Income Tax Returns (ITRs) have been filed for the ongoing assessment year (AY) 2025-26.
Services trade important for India’s economic growth: Commerce Secretary, Rajesh Agrawal has said that services trade is important for India’s economic growth, emphasizing its strong contribution to domestic value addition vis-a-vis merchandise exports.
Above views are of the author and not of the website kindly read disclaimer
.jpg)
