Opening Bell : Benchmarks likely to make negative start amid sharp losses in global markets
Indian equity markets are likely to make negative start on Friday following sharp losses in global markets and rising geopolitical uncertainty. Some cautiousness may come due to continued outflows by foreign institutional investors. On March 25, Foreign Institutional Investors (FIIs) were net sellers worth Rs 1,805.37 crore.
Some of the key factors to be watched:
West Asia conflict to strain India's FY27 fiscal math: Ratings agency ICRA said that a surge in global crude oil and natural gas prices amid the West Asia conflict is likely to complicate India's fiscal position in FY2027, potentially increasing subsidy burdens and pressuring revenues.
India, US discuss trade & WTO issues at MC14: Commerce Secretary Rajesh Agrawal held a meeting with Deputy US Trade Representative Joseph Barloon, and discussed issues related to the WTO's ministerial conference and ways to further expand bilateral trade ties.
OECD projects India's GDP to grow at 7.6% in FY26, 6.1% in FY27: The Organisation for Economic Cooperation and Development (OECD) has projected India's GDP to grow at 7.6 per cent in the current fiscal and 6.1 per cent in 2026-27.
Govt asks RBI to target retail inflation at 4% till March 2031: The government asked the Reserve Bank to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for another five years ending March 2031.
Fertilizer stocks will be in focus: Crisil Ratings report said India's annual domestic output of urea and complex fertilisers is likely to decline by 10-15 per cent due to supply chain disruptions caused by the ongoing conflict in the Middle East.
On the global front: The US markets ended in red on Thursday as traders react to continued volatility by the price of crude oil. Asian markets are trading in mostly in red on Friday following the broadly negative cues from Wall Street overnight.
Back home, Indian equity benchmarks extended their relief rally for a second consecutive session on Wednesday, with Sensex and Nifty closing over one and half percent higher each, as crude oil prices dropped and global markets advanced amid hopes of de-escalation in the war in West Asia. Finally, the BSE Sensex rose 1205.00 points or 1.63% to 75,273.45 and the CNX Nifty was up by 394.05 points or 1.72% to 23,306.45.
Some of the important factors in trade:
S&P ups India’s FY27 growth forecast to 7.1%: S&P Global Ratings raised India's GDP growth forecast for the next fiscal to 7.1 per cent, with private consumption, investment and exports being key drivers, but said that the conflict in the Middle East could strain the fiscal position due to higher energy prices arising from the conflict.
Cooperative sector to play key role in realising developed India vision: Minister of State for Cooperation Gautam Kumar Dak said the cooperative sector would play a crucial role in realising Prime Minister Narendra Modi's vision of a developed India by 2047.
RBI infuses Rs 55,837 crore transient liquidity into banking system via 3-day VRR auction: In an effort to stabilize the banking sector, the Reserve Bank of India (RBI) has infused Rs 55,837 crore transient liquidity into the banking system through three-day variable rate repo (VRR) auction.
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