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Benchmarks likely to make cautious start amid mixed global cues
Jul-06-2026

Indian equity markets are likely to make cautious start on Monday, tracking mixed global cues. However, some support may come as foreign institutional investors (FIIs) turned net buyers, purchasing equities worth Rs 1,355.33 crore on Friday. Traders took note of report that several lenders including HDFC Bank, Axis Bank, Kotak Mahindra Bank, among others, have reported provisional numbers for the April-June period ahead of quarterly earnings.

Some of the key factors to be watched:

India's forex reserves fall $5.65 billion to $666.93 billion: The RBI said that India's forex reserves dropped $5.65 billion to $666.93 billion during the week ended June 26.

India targeting 16-17% growth in goods exports, 11% in services in FY27: Commerce and Industry Minister Piyush Goyal has said that India is targeting 16-17 per cent growth in merchandise exports to $530 billion in the current fiscal year. He also said the target for the services sector is 11 per cent growth to $470 billion in 2026-27.

EAM Jaishankar meets Qatar PM: External Affairs Minister S Jaishankar met Qatar's Prime Minister Mohammed bin Abdulrahman Al-Thani and reviewed several areas of bilateral cooperation, including energy, trade, investments, connectivity and security.

India, France discuss critical minerals, investments: India and France have agreed to deepen cooperation in critical minerals, investment and financial connectivity as Finance Minister Nirmala Sitharaman and her French counterpart Roland Lescure co-chaired the India-France Economic and Financial Dialogue (EFD) in Aix-en-Provence.

Sebi issues unpaid securities guidelines, introduces auto-pledge mechanism: Sebi came out with a regulatory framework for trading members (TMs) to handle clients' unpaid securities, introducing an auto-pledge mechanism while laying down safeguards for investors.

Global front: The US markets remained closed on Friday on account of Independence Day. Asian markets are trading mostly in red on Monday, amid a lack of cues from Wall Street.

Back home, extending their winning momentum to the third day running, Indian equity benchmarks ended higher on Friday, amid a rally in Realty, IT and TECK stocks and a softer-than-expected US jobs data tempering expectations of near-term monetary tightening by the Federal Reserve. Finally, the BSE Sensex rose 261.79 points or 0.34% to 77,763.91 and the CNX Nifty was up by 95.15 points or 0.39% to 24,270.85.

Some of the important factors in trade: 

India, Japan unveil economic partnership framework, defence pact: India and Japan have unveiled a raft of initiatives, including an economic partnership framework and a defence pact to co-develop military hardware following talks between Prime Minister (PM) Narendra Modi and his Japanese counterpart Sanae Takaichi. 

Govt accelerates disinvestments to support revenues against backdrop of West Asia crisis: The Indian government has accelerated its disinvestment and asset monetisation plan in the current fiscal, raising about 31% of its full-year budgeted target in the first quarter itself. This is the fastest pace of disinvestment ever in the first quarter.

June sees slower growth in India’s services sector; PMI at 57.4: India’s services sector remained in expansionary territory in the month of June but eased to the lowest reading in 17 months. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index fell to 57.4 in June from 59.8 in May. 

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