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Benchmarks likely to make cautious start amid mixed global cues
Oct-03-2025

Indian equity markets are likely to make cautious start on Friday, amid mixed global cues. Traders are likely to remain watchful on the second day of the potential U.S. government shutdown. Additionally, some cautiousness may come after foreign institutional investors offloaded shares worth Rs 1,605.20 crore on a net basis on Wednesday. 

Some of the key factors to be watched:

India, EFTA trade pact comes into force: Commerce and Industry Minister Piyush Goyal said that the free trade agreement between India and the four European nations bloc EFTA has come into force. He also said the pact will unlock new opportunities for trade, investment and job creation, benefiting people and businesses.

Hopeful to sign trade pact with EU soon: Commerce and Industry Minister Piyush Goyal has expressed hope that India and 27-nation bloc European Union (EU) will sign a free trade agreement soon. The pact is aimed at boosting two-way commerce and investments.

India to emerge as next petrochemicals powerhouse with $37 billion capex push: S&P Global Ratings said that India is poised to become the next major player in the global petrochemicals industry, backed by a planned capital expenditure of $37 billion aimed at boosting self-sufficiency.

Gross GST mop-up rises 9% to Rs 1.89 lakh crore in September: Government data showed that gross GST collection rose 9.1 per cent to over Rs 1.89 lakh crore in September on the back of increased sales due to rate rationalization.

Govt raises wheat MSP by 6.59% to Rs 2,585 per quintal for 2026-27: The government has announced a 6.59 per cent increase in the minimum support price (MSP) for wheat to Rs 2,585 per quintal for the 2026-27 marketing year, up from Rs 2,425 per quintal last year.

On the global front: The US markets ended in green on Thursday, as continued optimism about the artificial intelligence (AI) kept the sentiments upbeat. Asian markets are trading mostly in green on Friday, following the broadly positive cues from Wall Street overnight.

Back home, Indian equity benchmarks rebounded sharply on Wednesday after an eight-day slump, and ended with gains of around a percent, helped by buying in banking and telecom stocks after the RBI left key interest rates unchanged and revised upward its growth estimates for the current fiscal to 6.8 per cent. Finally, the BSE Sensex rose 715.69 points or 0.89% to 80,983.31 and the CNX Nifty was up by 225.20 points or 0.92% to 24,836.30.

Some of the important factors in trade: 

India building self-reliance, resilient supply chains to counter weaponisation of trade: Commerce and Industry Minister Piyush Goyal has said that India is focusing on self-reliance by building capabilities and resilient supply chains, which will help the country tackle global challenges like weaponisation of trade. 

India's manufacturing PMI eases to 57.7 in September: A monthly survey said India's manufacturing sector activity eased in September, as new orders, output and input buying rose at the slowest rates in four months, while job creation retreated to a one-year low.  The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index moderated from 59.3 in August to 57.7 in September. 

Centre's fiscal deficit stands at 38.1% of BE of 2025-26 at August-end: The Controller General of Accounts (CGA) in its data has showed that the Centre's fiscal deficit stood at 38.1 per cent of the Budget Estimates (BE) of 2025-26 in the first five months (April-August) of the financial year.
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