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Indian equity benchmarks are likely to make gap-down opening on Thursday after U.S. President Donald Trump announced a 26% reciprocal tariff on Indian imports and weak global market cues. Traders will be closely watching banking and IT stocks for market direction.

Some of the key factors to be watched:

Trump Imposes 26% Tariff on Indian Imports: US President Donald Trump announced a 26 per cent discounted reciprocal tariff on India, half of the 52 per cent levies imposed by India on American goods, as he described India as very, very tough.

India-Australia exports up 4.4% in 2024-25: Commerce ministry said that India's exports to Australia have risen by 4.4 per cent year-on-year during April-February 2024-25 due to the free trade agreement implemented by both the countries in 2022.

India, Nepal ink 10 MoUs worth NRs 625 million for development projects: India and Nepal have signed 10 Memorandums of Understanding (MoUs) for high-impact community development projects in the Himalayan nation to be funded by Indian assistance amounting to Nepalese rupee (NRs 625) million

Indian cos raise Rs 58,000 crore in FY25 from overseas capital market: Indian companies have raised around Rs 58,000 crore from overseas capital markets in the recently concluded financial year (FY25). This was driven by a decline in hedging costs and strong demand for high-yield Indian papers among global investors.

Infrastructure industry stocks will be in focus: State-owned NHAI has constructed 5,614 km of National Highways against the target of 5,150 km during the financial year 2024-25.

On the global front: The US markets ended in green on Wednesday after US Commerce Department report showing a continued increase by factory orders in the month of February. Asian markets are trading mostly in red on Thursday amid concerns about the impact of President Donald Trump’s reciprocal tariffs on U.S. trade partners.

Back home, breaking a two-day losing streak, Indian equity benchmarks ended with significant gains on Wednesday, on strong macro data and value buying by investors after recent free-fall ahead of US tariff announcements. Finally, the BSE Sensex rose 592.93 points or 0.78% to 76,617.44, and the CNX Nifty was up by 166.65 points or 0.72% to 23,332.35.   

Some of the important factors in trade:

India Manufacturing PMI hits 8-month high in March: A monthly survey said India's manufacturing sector growth rose to an eight-month high in March, driven by quicker increases in factory orders and production amid buoyant demand conditions. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) was at 58.1 in March, up from 56.3 in February. 

GST collection surges 9.9% to Rs 1.96 lakh crore in March: The government data has showed that Gross Goods and Services Tax (GST) collection grew 9.9 per cent in March 2025 to over Rs 1.96 lakh crore (Rs 19,56,034 crore) - the second-highest mop-up ever 

India’s growth at 6.5% this fiscal to remain highest amongst advanced, emerging G-20 countries: Moody’s Ratings said India’s growth at 6.5 per cent this fiscal will remain the highest amongst the advanced and emerging G-20 countries, supported by tax measures and continued monetary easing, and the country will continue to attract capital and withstand any cross-border outflow.

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