Opening Bell :Markets likely to make positive start amid gains in global markets
Indian equity markets are likely to make positive start on Wednesday following gains in global markets. Traders are likely to adopt a wait-and-watch approach ahead of the US Federal Reserve’s policy decision to be announced later in the day. However, some cautiousness may come due to continued outflows from foreign investors and ongoing Iran-Israel-US conflict.
Some of the key factors to be watched:
India, EU discuss Energy Security amid West Asia conflict: The escalating conflict in West Asia and its ripple effects on global energy security figured prominently in External Affairs Minister S Jaishankar's high-level talks with his counterparts from the 27 European Union (EU) member states in Brussels.
RBI injects Rs 48,014 crore in banking system via seven-day VRR auction: The Reserve Bank of India (RBI) has injected Rs 48,014 crore in transient liquidity into the banking system through a seven-day variable rate repo (VRR) auction.
Ramping up domestic LPG production to ensure supplies to households: Finance Minister Nirmala Sitharaman has said that the domestic production of LPG is being ramped up to ensure cooking gas supply to households during turbulent times amid the West Asia crisis.
India’s digital economy to account for 20% of GDP by 2030: Ministry of Electronics and IT (MeitY) Secretary S Krishnan said India's digital economy is projected to account for nearly 20 per cent of the country's Gross Domestic Product (GDP) by 2030, driven by a growth rate that is double that of the broader economy.
Sugar sector’s stocks will be in watch: Industry body ISMA said that India's sugar production reached 26.21 million tonne so far in the ongoing 2025-26 marketing year, up by 10.5 per cent from the year-ago period.
On the global front: The US markets ended higher on Tuesday even as oil prices rebounded amid the Iran conflict, with investors turning their focus to Wednesday's Federal Reserve decision. Asian markets are trading mostly in green on Wednesday following the broadly positive cues from Wall Street overnight.
Back home, in a volatile session, Indian equity benchmarks ended higher for the second consecutive day on Tuesday with gains of over half percent, following a rally in Metal, Auto and Realty shares and a positive trend in global markets. However, rising crude oil prices and sustained outflow of foreign funds amid the West Asia crisis, capped the gains. Finally, the BSE Sensex rose 567.99 points or 0.75% to 76,070.84 and the CNX Nifty was up by 172.35 points or 0.74% to 23,581.15.
Some of the important factors in trade:
Support measures for exporters on anvil to deal with West Asia crisis: Commerce Secretary Rajesh Agrawal said the commerce ministry is expected to announce certain support measures to help exporters deal with the West Asia crisis.
India’s unemployment dips to 4.9% in February: The Periodic Labour Force Survey (PLFS) showed that overall unemployment among persons aged 15 years and above fell marginally to 4.9 per cent in February from 5 per cent in January this year.
India’s exports dip marginally in February: The government data showed the country's merchandise exports dropped marginally by 0.81 per cent to $36.61 billion in February. Imports increased by 24.11 per cent to $63.71 billion in February this year from $51.33 billion recorded a year ago.
Above views are of the author and not of the website kindly read disclaimer
