Opening Bell : Markets likely to make gap-down opening amid global tech sell-off
Indian equity markets are likely to make a gap-down opening on Friday, amid tech sell-off in global markets. Traders are likely to remain cautious amid continued selling pressure from foreign institutional investors (FIIs), who were net sellers of shares worth Rs 3,263.21 crore.
Some of the key factors to be watched:
India, New Zealand to finalise FTA soon: Commerce and Industry Minister Piyush Goyal said that talks are progressing fast between India and New Zealand and expressed hope that the free trade agreement will be finalised soon.
Next round of talks on proposed trade pact with Peru likely in January 2026: The Commerce Ministry has said that the next round of negotiations between India and the South American nation Peru is proposed to be held in January next year in the national capital.
India’s housing prices to appreciate 5-10% annually: Industry body CII and property consultant Colliers India have reported that India’s 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.
Sebi expands IPO anchor book size to 40% to broaden institutional investors participation: Markets regulator Sebi has amended rules revamping the share-allocation framework for anchor investors in maiden public offerings, a move aimed at broadening the participation of domestic institutional investors such as mutual funds, insurance companies, and pension funds.
On the global front: The US markets ended in red on Thursday amid renewed weakness among artificial intelligence-related stocks. Asian markets trading mostly in red on Friday, tracking overnight losses on Wall Street.
Back home, in a highly volatile trade, Indian equity benchmarks ended with losses on Thursday, marking their second consecutive decline, with broad-based profit-booking seen amid continued FII outflows, despite supportive Asian market. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,067.01 crore on Tuesday, according to exchange data. Finally, the BSE Sensex fell 148.14 points or 0.18% to 83,311.01 and the CNX Nifty was down by 87.95 points or 0.34% to 25,509.70.
Some of the important factors in trade:
India service sector slows in October: The seasonally adjusted HSBC India Services PMI Business Activity Index fell from 60.9 in September to 58.9 in October, indicating the slowest pace of expansion since May, as competitive pressures and heavy rains in parts of the country led to a slower increase in output, according to a monthly survey.
India protects vulnerable sectors in FTAs: Commerce and Industry Minister Piyush Goyal said India consistently protects the interests of vulnerable sectors like dairy and MSMEs in free trade agreements.
India to be third largest economy: Finance Minister Nirmala Sitharaman said India today stands out as a fast-growing economy and will soon be the third-largest in the world.
Above views are of the author and not of the website kindly read disclaimer
