Opening Bell : Benchmarks likely to make flat to positive start on Monday
Indian equity markets are likely to make flat to positive start on Monday, tracking mixed global market cues. Traders are likely to find some support amid renewed buying by foreign institutional investors (FIIs), who were net buyers of shares worth Rs 4,581.34 crore.
Some of the key factors to be watched:
India, NZ trade pact likely to boost trade, investment ties: The commerce ministry said that the proposed free trade agreement between India and New Zealand is expected to enhance trade flows, deepen investment linkages and strengthen supply-chain resilience.
India's economic growth projected above 6.8%: Chief Economic Advisor (CEA) V Anantha Nageswaran has exuded confidence that economic growth would be upwards of 6.8 per cent in the current financial year driven by consumption boost provided by GST rate cut and income tax relief.
CII urges government to establish India Development and Strategic Fund to finance growth: The Confederation of Indian Industry (CII) has urged the government to establish a professionally managed India Development and Strategic Fund to finance the country's long-term growth, resilience, and secure critical economic interests abroad.
India’s forex reserves drop $5.62 billion to $689.73 billion: Reserve Bank of India has said that India's forex reserves dropped $5.62 billion to $689.73 billion for the week ended October 31.
Sugar stocks will be in focus: Food Minister Pralhad Joshi said that the Centre has decided to allow export of 1.5 million tonne (MT) of sugar for the 2025-26 sugar season that started from October. Food Ministry has also decided to remove 50 per cent export duty on molasses.
On the global front: The US markets ended mostly in green on Friday amid optimism about an end to the prolonged government shutdown following an offer from top Senate Democrat Chuck Schumer. Asian markets trading mostly in green on Monday, after data showed China's consumer price inflation ticked up in October.
Back home, Indian equity benchmarks ended flat with negative bias on Friday as relentless foreign fund outflows and weak trends in global markets hit investors' sentiment. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,263.21 crore on Thursday, according to exchange data. Finally, the BSE Sensex fell 94.73 points or 0.11% to 83,216.28 and the CNX Nifty was down by 17.40 points or 0.07% to 25,492.30.
Some of the important factors in trade:
FTA between India and New Zealand to be finalised soon: Expressing hopes that the free trade agreement (FTA) with New Zealand will be finalised soon, Commerce and Industry Minister Piyush Goyal has said that talks are progressing fast between India and New Zealand.
Housing prices to appreciate 5-10% annually over next few years: A joint report by Industry body Confederation of Indian Industry (CII) and property consultant Colliers India has said that Housing prices are likely to appreciate 5-10 per cent annually over the next few years on better demand.
Finance Minister urges lenders to boost credit flow: Finance Minister Nirmala Sitharaman urged lenders to deepen and widen credit flow to the industry, exuding confidence that GST rate cut-driven demand would unleash a virtuous investment cycle.
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