Benchmarks likely to make gap-down opening amid mixed global cues

Indian equity markets are likely to make gap-down opening on Friday, tracking mixed global cues amid ongoing uncertainty surrounding the India-US trade deal discussions. Investors’ sentiments may also be weighed down by disappointing Q4 earnings from TCS. However, markets may find some support from foreign fund inflows by Foreign Institutional Investors (FIIs).

Some of the key factors to be watched:

India revises proposed retaliatory duties against U.S. over steel, aluminium tariffs in WTO: India has revised its proposal to impose retaliatory duties under the WTO (World Trade Organisation) norms against the U.S. over American tariffs on steel and aluminium in view of the further hike in duty by the Trump administration.

Indian enterprises in Singapore set to ride on business adaptation grant to counter U.S. tariff impact: The Singapore Indian Chamber of Commerce and Industry has welcomed the government's timely introduction of the Business Adaptation Grant to help local entrepreneurs navigate and adjust to the evolving cross-border tax landscape, especially impacted by the U.S. trade tariffs.

India now makes faster payments than any other country, courtesy UPI: International Monetary Fund (IMF) reported that India now makes faster payments than any other country with the quick growth of UPI and the usage of other instruments, including debit and credit cards, is on the decline.

Govt faces limitations; the private sector should step in to fund R&D: Union Science and Technology Minister Jitendra Singh has made a strong pitch for a greater role for the private sector in funding research initiatives, contending that the government has its limitations and should be a facilitator.

India plays key role in setting global telecom standards: Union Minister for Communications Jyotiraditya Scindia said that, for the first time, India is playing a key role in setting global telecom standards.

On the global front: The U.S. markets ended in green on Thursday, despite ongoing uncertainty about President Donald Trump's trade policies, as he continues to threaten higher tariffs on various sectors and countries. Asian markets are trading mostly in green on Friday, following U.S. President Donald Trump's announcement of a 35 per cent tariff on Canadian goods starting August 1.

Back home, Indian equity benchmarks edged lower and lost nearly half a percent on the weekly expiry day due to weakness in TECK, Telecom and IT stocks. After a flat start, the markets gradually drifted lower as the session progressed and finally settled near the day’s lows, as investors remained cautious amid uncertainty surrounding India-US trade talks. Finally, the BSE Sensex fell 345.80 points or 0.41% to 83,190.28 and the CNX Nifty was down by 120.85 points or 0.47% to 25,355.25. 

Some of the important factors in trade:

FTAs with Australia, UAE, UK to provide greater market access for domestic agri sector: Commerce and Industry Minister Piyush Goyal has said that free trade agreements (FTAs) with developed markets such as Australia, UAE and UK will provide greater market access for the domestic agri sector. 

NBFCs’ education loan growth to slow down by around 50% due to US headwinds: The rating agency Crisil has said that the growth of education loan for Indian non-banking finance companies (NBFCs) to slow down by 50% in FY26 owed to policy uncertainty in the United States. 

India, Africa should create future defined not by power and dominance: Underlining that India values Africa's role in world affairs, Prime Minister Narendra Modi has said that the two sides must act together to create a future defined not by power and dominance, but by partnership and dialogue.