Indian equity markets are likely to make cautious start on Monday, amid weak global cues, as investors closely monitor developments in West Asia and await the US Federal Reserve’s upcoming interest-rate decision. However, some support may come from foreign institutional investors (FIIs), who turned net buyers on Friday, purchasing equities worth Rs 887.65 crore.
Some of the key factors to be watched:
India, Uzbekistan discuss bilateral ties during Jaishankar’s Azerbaijan visit: India and Uzbekistan have discussed key issues on their bilateral agenda and stressed the need for timely implementation of agreements reached at the highest level during a meeting between External Affairs Minister S Jaishankar and his Uzbek counterpart Bakhtiyor Saidov in Azerbaijan’s Baku.
Govt, export promotion body discuss ways to take engineering exports to $250 billion by 2030: The report said that the Department of Commerce and engineering exports promotion body EEPC India held multiple discussions to chart a strategy to take the country's engineering exports to $250 billion by 2030.
India, Rotterdam port authorities engaged to digitalise cargo processes: Commerce and Industry Minister Piyush Goyal said Indian and Rotterdam port authorities are working to digitalise processes in India to speed up cargo evacuation and reduce ship turnaround times. He said India needs to significantly improve port capacity.
Strong macro fundamentals, policy interventions to anchor eco against global headwinds: The RBI Bulletin said strong macroeconomic fundamentals and targeted policy interventions continue to anchor the economy against global headwinds, including rising inflation due to the West Asia crisis and ongoing trade tensions.
German firms see India as manufacturing, R&D & innovation hub: Commerce and Industry Minister Piyush Goyal has said German companies are increasingly viewing India as a strategic hub for manufacturing, research and development, and innovation alongside its role as a key consumer market.
On the global front: The US markets ended lower on Friday, as lingering concerns about the artificial intelligence trade contributed to the weakness on Wall Street along with a continued increase in the price of crude oil. Asian markets were trading mostly lower on Monday following broadly positive cues from Wall Street on Friday.
Back home, Indian equity benchmarks erased most of their initial losses but ended in red terrain on Friday amid rising crude oil prices and escalating geopolitical tensions. Some concern also came as exchange data showed Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,458.70 crore on a net basis on Thursday. Finally, the BSE Sensex fell 125.56 points or 0.17% to 73,123.83 and the CNX Nifty was down by 87.65 points or 0.39% to 22,600.00.
Some of the important factors in trade:
India's private sector business activity signals continued growth in October: According to the data report, the HSBC Flash India PMI Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors - rose to 56.7 in October from final reading of 55.9 in September, pointing to a marked monthly expansion of business activity and one that was the fastest since June.
India provides stable, predictable business environment to global investors: Commerce and Industry Minister Piyush Goyal has assured global investors that India provides a stable and predictable business environment and emphasised that businesses investing and expanding in the country would not face the uncertainties seen in other parts of the world.
European companies express keen interest in investing in India: Commerce and Industry Minister Piyush Goyal has noted that several European companies have expressed keen interest in investing in India, with many carmakers exploring manufacturing opportunities in the country.