Opening Bell : Benchmarks likely to make negative start amid weak global cues
Indian equity markets are likely to make negative start on Tuesday, amid weak cues from global markets. Traders are likely to remain cautious due to rising tensions between the US and Iran, along with disruptions in the Strait of Hormuz. However, downside may be limited as Foreign Institutional Investors (FIIs) turned net buyers on May 4, 2026, with a net inflow of Rs 2,835.62 crore.
Some of the key factors to be watched:
Net direct tax collection rises 5% to Rs 23.40 lakh crore in FY26: Data released by the Central Board of Direct Taxes (CBDT) showed that the government's net direct tax collections grew 5.12 per cent to over Rs 23.40 lakh crore in 2025-26, but missed the revised target set for the fiscal year that ended March 2026.
India, Canada begin next round of FTA talks: The report said that India and Canada on Monday started second round of negotiations for a free trade agreement aimed at boosting two-way commerce and investments.
India must map, monitor economic vulnerabilities in energy, food, other areas: Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev said India must map and monitor key economic vulnerabilities, particularly in areas such as energy, food, fertilisers, metals, and critical minerals, and proactively address both supply disruptions and price volatility to mitigate the impact of future West Asia-like crisis.
EAM Jaishankar meets Jamaican PM: External Affairs Minister S Jaishankar met Jamaican Prime Minister Andrew Holness and discussed ways to further deepen political, economic and people-to-people cooperation.
No government financial support planned for fuel retailers' petrol, diesel, ATF losses: The report said that the government has no plans to extend financial support to state-owned fuel retailers for the losses they are incurring on selling petrol, diesel and aviation turbine fuel (ATF) below cost.
Global front: The US markets ended in red on Monday amid renewed tensions between the United States and Iran. Asian markets are trading mostly in red on Tuesday tracking negative cues from Wall Street overnight.
Back home, Indian equity benchmarks erased most of their initial gains but ended on a positive note on Monday helped by buying in blue-chip stocks and state poll results moving towards an outcome in line with market expectations. Investor sentiment also supported by a better-than-expected Q4 earnings and softer crude oil prices. However, profit booking at elevated levels erased a significant portion of the gains. Finally, the BSE Sensex rose 355.90 points or 0.46% to 77,269.40 and the CNX Nifty was up by 121.75 points or 0.51% to 24,119.30.
Some of the important factors in trade:
Govt reports 8.7% growth in GST collection for April: The government data has showed that total Gross Goods and Services Tax (GST) collection rose to a record of Rs 2,42,702 crore in April 2026 as compared to Rs 2,23,265 crore in April 2025, a growth of 8.7%.
India manufacturing growth picks up in April: India’s manufacturing sector growth improved in the month of April 2026, but still marking the second-slowest improvement in operating conditions in nearly four years. According to the survey report, the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) rose to 54.7 in April from 53.9 in March.
FTAs to help boost exports, generate jobs: Commerce and Industry Minister Piyush Goyal said the free trade agreements (FTAs) finalised by India in the last three and a half years will help provide duty-free access to domestic goods, boost the country's exports and generate lakhs of jobs for people.
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