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Indian equity markets are likely to make a gap-down start on Monday, following weakness in global markets, after the escalation in the US-Iran war and the fears of the Strait of Hormuz closure drove crude oil prices sharply higher. Traders are likely to adopt a wait-and-watch approach ahead of India's retail inflation data, scheduled to be released later in the day.

Some of the key factors to be watched: 

Goyal to visit Spain, Belgium, Finland this week: Commerce and Industry Minister Piyush Goyal will embark on a five-day visit to Spain, Belgium, and Finland to discuss ways to boost trade and investments between India and the three countries. 

India, Canada conclude third round of talks on proposed trade pact: India and Canada have concluded the third round of negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) in Ottawa on July 10, as the two sides look to wind up the talks this year itself.

India must strengthen certification to take full advantage of UK FTA: Economic think tank GTRI said that the India-UK free trade agreement opens market access but does not automatically translate into higher exports, and the country must strengthen standards, certification, logistics and buyer linkages to realise its full benefits. 

India aims to achieve $150 billion electronics exports by 2030: Commerce Secretary Rajesh Agrawal said deliberations were held with industry stakeholders on achieving the $150 billion electronics exports target by 2030.

India’s forex kitty jumps $7.26 billion to $674.19 billion: The Reserve Bank of India said India’s forex reserves jumped $7.26 billion to $674.193 billion during the week ended July 3. In the previous reporting week, the forex kitty had dropped by $5.654 billion to $666.933 billion. 

Global front: The US markets closed in green on Friday led by a rally in semiconductor stocks, while investors looked ahead to the quarterly earnings season. Asian markets are trading mostly in red on Monday, amid escalating US-Iran war in the Middle East. 

Back home, rising for second consecutive session, Indian equity benchmarks ended over a percent higher on Friday, tracking firm cues from global markets and falling oil prices on speculation the escalation of hostilities between the U.S. and Iran will be limited. Strong earnings from heavyweight companies also helped underpin investor sentiment. Finally, the BSE Sensex rose 827.57 points or 1.08% to 77,569.39 and the CNX Nifty was up by 244.10 points or 1.02% to 24,206.90.  

Some of the important factors in trade:  

Revenues of India Inc likely to grow at two-year high in Q1: Domestic rating agency Crisil’s arm -- Crisil Intelligence has projected that revenues of India Inc are likely to grow at a two-year high of up to 11.5% in Q1 of FY27, despite ongoing tensions in West Asia. 

Sustained high growth, reforms key for India to become developed nation by 2047: The International Monetary Fund said that sustained high growth and continuity in reforms will put India on the path to emerge as a developed economy by 2047.

India, Afghanistan review entire spectrum of bilateral ties in key meet in Delhi: India and Afghanistan held a key meeting here during which the two sides reviewed the entire spectrum of bilateral relations, including cooperation in the fields of humanitarian assistance, development partnership, food security, healthcare, education, trade, visa and connectivity.

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