Opening Bell : Markets likely to make positive start amid easing concerns over Middle East conflict
Indian equity markets are likely to make a positive start on Friday, amid easing concerns over a Middle East conflict, following signs of possible diplomatic talks between the US and Iran. However, some cautiousness may come as foreign institutional investors (FIIs) turned net sellers, offloading equities worth Rs 532.86 crore on Thursday.
Some of the key factors to be watched:
India Inc revenues set to grow at two-year high in Q1 despite West Asia tensions: Crisil said that India Inc's revenues are expected to grow at a two-year high of up to 11.5% in the June quarter, despite the prevailing tensions in West Asia, which have had a wide-ranging impact, starting with supply chain disruptions and stoking domestic inflation.
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.
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.
Union Minister Giriraj Singh reviews key initiatives to strengthen textile ecosystem: Union Textiles Minister Giriraj Singh has chaired a high-level review meeting to assess the progress of key initiatives aimed at strengthening India's textile ecosystem through technology upgradation, institutional reforms and enhanced industry support.
MSME minister urges banks to facilitate greater access to institutional credit: Union MSME Minister Jitan Ram Manjhi has urged banks to facilitate greater access to institutional credit for micro, small and medium enterprises and called upon all stakeholders to ensure effective implementation of government initiatives for the sector growth.
Global front: The US markets ended in green on Thursday after U.S. President Donald Trump said that Iran wants to reach a deal with the U.S., raising hopes that the ongoing tensions may ease. Asian markets are trading higher on Friday, following the broadly positive cues from Wall Street overnight.
Back home, Indian equity benchmarks rebounded on Thursday after a heavy correction in the previous session amid foreign fund inflows and a largely positive trend in global markets. However, gains remain capped as caution prevailed in the market as the United States and Iran exchanged strikes for a second consecutive day. Finally, the BSE Sensex rose 238.22 points or 0.31% to 76,741.82 and the CNX Nifty was up by 80.75 points or 0.34% to 23,962.80.
Some of the important factors in trade:
IMF revises India’s growth projection to 6.4% for FY27: The International Monetary Fund (IMF), in its July update to the World Economic Outlook (WEO), has said that the Indian economy is likely to grow at 6.4 per cent in fiscal year 2026-27 (FY27), 10 basis points (bps) lower than its 6.5 per cent growth projection in the April Outlook.
India emerging as global manufacturing hub amid global supply chains realignment: Amid ongoing realignment of global supply chains, the Assocham in its report has highlighted that India is emerging as a major beneficiary and is rapidly strengthening its position as one of the world's leading manufacturing destinations.
ADB lowers FY27 growth forecast, raises inflation outlook: The Asian Development Bank (ADB), in its July Asian Development Outlook (ADO), has lowered India’s economic growth forecast for the fiscal year ending March 2027 (FY27) to 6.6 per cent from 6.9 per cent projected in April.
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