Opening Bell : Benchmarks to make cautious start amid mixed global cues
Indian markets are likely to make a cautious start on Thursday, tracking mixed global cues after U.S. Federal Reserve Chair Jerome Powell raised concerns over trade tensions impacting inflation control and growth. Additionally, the monthly F&O expiry and the upcoming long weekend due to Good Friday may further dampen market sentiments.
Some of the key factors to be watched:
India to expand trade ties with nations offering fair, balanced FTAs: Commerce Minister Piyush Goyal said that India will expand its trade ties with nations that offer fair, balanced, and equitable free trade agreements (FTAs), stressing that the country's gains must match its offer of accessing a 1.4 billion-strong, and fast-growing consumer market.
India to grow by 6.5% in 2025: UN report said that India is expected to grow by 6.5 per cent in 2025 on the back of continued robust public spending and ongoing monetary easing, even as the world economy is on a recessionary trajectory, driven by escalating trade tensions and persistent uncertainty.
India set to surpass China in air passenger traffic growth rate in 2026: Airports' grouping ACI said that India is projected to surpass neighbouring China in air passenger traffic growth rate in 2026, growing at 10.5 per cent.
US 125% tariff on China could fuel India’s exports by small firms made products: The Global Trade Research Initiative (GTRI) said the US crackdown, which has imposed 125 per cent import tariffs on China, has unexpectedly created a rare opportunity for India’s small manufacturers, offering them a short-term export window.
IMEC to reduce logistics costs by up to 30%: Commerce Minister Piyush Goyal said that India-Middle East-Europe Economic Corridor (IMEC) is not merely a trade route, but a modern-day Silk Route, a partnership of equals, that fosters synergy, connectivity, and inclusive prosperity. It will bring down logistics costs by up to 30%, reduce transportation time by 40%, and create seamless trade linkages across continents.
On the global front: The US markets ended in red on Wednesday amid a steep drop by shares of Nvidia, with the AI darling plunging 7.2 percent on the day, after the company said its first quarter results are expected to include up to around $5.5 billion of charges associated with its H20 integrated circuits. Asian markets are trading mostly in green on Thursday even tariff worries persisted as China moved to halt Boeing purchases amid trade tensions.
Back home, defying a weak global market trend, Indian equity benchmarks ended higher for the third straight day on Wednesday, following buying in blue-chip banking stocks and fresh foreign fund inflows as retail inflation slipping to near six-year lows raised hopes of further rate cuts. Finally, the BSE Sensex rose 309.40 points or 0.40% to 77,044.29, and the CNX Nifty was up by 108.65 points or 0.47% to 23,437.20.
Some of the important factors in trade:
Foreign investors stage comeback: Foreign Institutional Investors (FIIs) turned net buyers of Indian equities on Tuesday after nine sessions as they mopped up stocks worth Rs 6,065.78 crore. FIIs last turned net buyers on March 27, where they bought equities worth Rs 11,111.25 crore, highest single-day buying so far in 2025.
Update on a normal monsoon: The India Meteorological Department (IMD) has predicted an above normal monsoon in 2025, which quantitatively could be 105 per cent of the Long Period Average (LPA). This is the second year running when the IMD has predicted an “above normal” monsoon.
Easing retail inflation: Retail inflation dipped marginally to a nearly six-year low of 3.34 per cent in March due to a decline in prices of vegetables and protein-rich items. The Consumer Price Index (CPI) based inflation was 3.61 per cent in February and 4.85 per cent in March last year.
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