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Indian equity markets are likely to make a positive start on Thursday, tracking gains in global markets. However, some cautiousness may come amid continued foreign fund outflows, as foreign institutional investors (FIIs) offloaded shares worth Rs 4,703.15 crore on Wednesday. Traders are likely to adopt a wait-and-watch approach ahead of the release of the Wholesale Price Index (WPI) data for April.

Some of the key factors to be watched:

India targets $1 trillion goods and services exports this year: Commerce and Industry Minister Piyush Goyal has asked for taking the country's goods and services exports to $1 trillion this fiscal year. He said that taking from $863 billion to $1 trillion needs $137 billion, which is a 16-17 per cent growth.

India, UAE set to ink energy pacts on LPG and strategic oil reserves: The report said India and the United Arab Emirates are expected to firm up two significant agreements to boost cooperation in areas of liquefied petroleum gas (LPG) and strategic petroleum reserves during Prime Minister Narendra Modi's visit to the Gulf nation on May 15.  

Govt approves Rs 37,500 crore incentive to promote coal gasification projects: The Union Cabinet has approved a Rs 37,500-crore incentive scheme to promote coal gasification projects, aimed at boosting clean energy production and reducing dependence on forex-guzzling imports.

India, Chile review progress of proposed free trade agreement: The report said that India and Chile, a South American nation, have reviewed the progress of negotiations for the proposed free trade agreement and discussed modalities for its early conclusion.

RBI eases outward remittance rules for non-banks: The Reserve Bank has removed the prior approval requirement for non-bank entities to form tie-up arrangements for facilitating outward remittance services through banks in India. 

Global front: US markets closed mostly in green on Wednesday as investors shrugged off a hotter-than-expected reading of wholesale inflation. Asian markets are trading mostly in green on Thursday as investors look to a high-stakes meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping for clues on the future of U.S.-China ties and global trade.   

Back home, Indian equity benchmarks ended marginally higher on Wednesday, snapping their four-day losing streak, led by gains in Metal, Telecom and Consumer Durables stocks. However, elevated crude oil prices, foreign investor outflows, rupee weakness and persistent geopolitical uncertainties restricted the upside. Finally, the BSE Sensex rose 49.74 points or 0.07% to 74,608.98 and the CNX Nifty was up by 33.05 points or 0.14% to 23,412.60. 

Some of the important factors in trade: 

India-Oman FTA set to come into force from June 1: With an aim to strengthen India’s global economic partnerships, Commerce and Industry Minister Piyush Goyal has said that the India and Oman free trade agreement (FTA) is likely to come into force from June 1, 2026. The pact was signed in December 2025. 

CPI based retail inflation rises to 3.48% in April on uptick in food prices: Retail inflation rate based on All India Consumer Price Index (CPI) with base year 2024 rose marginally to 3.48% (Provisional) in the month of April 2026 as compared to 3.40% (Final) in the preceding month, mainly due to an uptick in food prices. 

PSBs achieves record net profit of Rs 1.98 lakh crore in FY26: The finance ministry has said that Public Sector Banks (PSBs) have achieved a record net profit of Rs 1.98 lakh crore in FY 2025-26 (FY26), marking their fourth consecutive year of strong financial performance, supported by improved asset quality, healthy credit expansion and higher income.

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