Opening Bell : Benchmarks likely to make negative start amid weak global cues
Indian equity markets are likely to make negative on Friday, tracking weak global cues. Traders are likely to remain cautious after the US President announced imposition of reciprocal tariffs on several trading partners. Additionally, continued selling by foreign portfolio investors (FPIs) could further dampen markets sentiments.
Some of the key factors to be watched:
Fiscal deficit in Q1 at 17.9% of full-year target: Controller General of Accounts (CGA) data showed that the Centre's fiscal deficit stood at 17.9 per cent of the full-year target at the end of June. It was at 8.4 per cent of Budget Estimates (BE) of 2024-25 in the first three months of the previous financial year.
India’s gold demand drops by 10% in Apr-Jun quarter: The World Gold Council (WGC) said that India’s gold demand fell by 10 per cent during the April-June quarter to 134.9 tonnes compared to 149.7 tonnes a year ago as record yellow metal prices impacted affordability.
Cabinet approves Rs 2,000 crore grant-in-aid for NCDC: The Union Cabinet has approved a Rs 2,000 crore grant-in-aid to National Cooperative Development Corporation (NCDC) for four years, a move that will help the organisation mobilise more funds for lending to cooperatives.
Scindia on US tariff impact on telecom equipment exports: Union Telecom Minister Jyotiraditya Scindia said that the Indian telecom equipment exports to the US will remain competitive even after imposition of additional tariffs.
Sugar stocks will be in focus: Indian Sugar and Bio-energy Manufacturers Association (ISMA) said that India's sugar production is expected to rise 18 per cent to 34.90 million tonnes in the 2025-26 season starting in October, with a scope for exports of 2 million tonnes.
On the global front: The U.S. markets ended in red on Thursday, as traders kept an eye on the latest developments on the trade front ahead of President Donald Trump's tariff deadline on Friday. Asian markets are trading mostly in red on Friday, as the U.S. slapped dozens of trading partners with steep tariffs, ranging from 10 percent to 41 percent.
Back home, Indian equity benchmarks snapped a two-day gaining streak and ended with losses on Thursday after US President Donald Trump announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1 and an unspecified penalty for buying Russian crude oil and military equipment. Finally, the BSE Sensex fell 296.28 points or 0.36% to 81,185.58 and the CNX Nifty was down by 86.70 points or 0.35% to 24,768.35.
Some of the important factors in trade:
FII outflows continue: Foreign Institutional Investors (FIIs) continued their trend as net sellers, offloading Rs 850.04 crore worth of Indian equities on Wednesday, which further contributed to the downward pressure on the markets.
Business confidence among MSME improves in Q1 FY26: Latest MSME Outlook Survey released by SIDBI has said that business confidence among micro, small, and medium enterprises (MSME) improved during Q1 FY26, backed by steady domestic demand and a supportive financial environment.
India, UAE commit to deepening defence partnership: India and the United Arab Emirates (UAE) have reaffirmed their commitment to strengthening bilateral defence cooperation during the 13th India-UAE Joint Defence Cooperation Committee (JDCC) meeting on July 30, 2025.
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