Indian equity benchmark -- Nifty ended lower on Friday amid mixed signals over ongoing US-Iran negotiations and uncertainty surrounding the reopening of Strait of Hormuz. Index made a positive start and traded higher in morning deals as the government decided to exempt FPIs from income tax on interest income and capital gains arising from investments in government securities. However, in late morning session, the market turned volatile and traded near neutral line as the RBI’s upward revision of CPI inflation for 2026-27. The RBI projected the retail inflation for 2026-27 at 5.1%, higher from its earlier estimate of 4.6%, largely due to mounting input costs. Further, the RBI lowered its GDP forecast for FY2026-27 to 6.6% from the 6.9% estimated in April. In second half of session, market traded in red dragged by Metal and IT stocks. Finaly, Nifty ended lower with cut of 0.21%.
