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Markets likely to make positive start amid easing crude oil prices
Jul-02-2026

Indian equity markets are likely to make positive start on Thursday amid easing crude oil prices after the US and Iran concluded talks in Doha. However, some cautiousness may come amid continued foreign fund outflows, as foreign institutional investors (FIIs) offloaded shares worth Rs 1,140.50 crore on Wednesday. 

Some of the key factors to be watched: 

Microfinance AUM to grow 20% by FY27: Crisil Ratings has said that microfinance institutions' (MFIs) assets under management growth is set to accelerate to 20 per cent in FY27 after a tepid 4 per cent increase in the past fiscal.

Validity of FY26 gold import quota licences under India-UAE trade pact extended till September 30: The Directorate General of Foreign Trade (DGFT) has said that importers who were granted tariff rate quota authorisation to import gold under the India-UAE free trade agreement during FY 2025-26 have been given more time to use those licences till September 30.

RBI’s 2-day VRR Auction sees muted demand amid surplus liquidity: The Reserve Bank of India's (RBI) two-day variable rate repo (VRR) auction saw muted demand from banks as liquidity in the banking system turned surplus after month-end inflows. The central bank received bids worth Rs 29,695 crore for a notified amount of Rs 1.25 lakh crore of two-day VRR auction. 

Cement makers' profit likely to decline in Q1FY27 on higher fuel costs: India Ratings and Research (Ind-Ra) in its report has said that profitability of Indian cement manufacturers is likely to come under pressure in the first quarter of FY27 on account of a sharp increase in fuel, freight and other input costs, besides product price hikes by industry players.

India’s power consumption jumps 11.62% in June amid heatwave: India's power consumption grew by 11.62 per cent to 166.46 billion units (BU) in June compared to the same month last year due to heat wave conditions and late onset of monsoon across the country, which pushed usage of cooling appliances like air conditioners.

Global front: US markets ended in red on Wednesday as weakness in technology stocks weighed on sentiment. Asian markets are trading mixed on Thursday following the broadly negative cues from Wall Street overnight. 

Back home, snapping a two-session losing streak, Indian equity benchmarks ended over half percent higher on Wednesday supported by strong buying in Realty and FMCG stocks amid drop in crude oil prices despite uncertainty surrounding ongoing U.S.-Iran negotiations in Doha. Finally, the BSE Sensex rose 443.97 points or 0.58% to 76,922.64 and the CNX Nifty was up by 140.10 points or 0.59% to 24,005.85.

Some of the important factors in trade:

Govt’s gross GST collections rise 13.9% to Rs 1,94,812 crore in June: The government data has showed that gross goods and services tax (GST) collections rose 13.9 per cent to Rs 1,94,812 crore in June 2026 as compared to Rs 1,71,105 crore in June 2025 as robust import tax collections offset relatively moderate growth in domestic revenues. 

Bank credit to industry registers 17.5% growth in May: The Reserve Bank of India (RBI) in its latest data has showed that bank credit to the industrial sector grew 17.5 per cent y-o-y by the end of May 2026, a sharp acceleration from 5.3 per cent recorded in the corresponding period last year, as advances to large industries grew at an accelerated pace, along with sustained healthy expansion in the MSE sector.

India’s financial system remains resilient supported by strong bank, non-bank balance sheets: The Reserve Bank of India (RBI) in its Financial Stability Report (FSR) has said that Indian financial system remains resilient, supported by strong bank and non-bank balance sheets, as gross non-performing assets of banks have touched a multi-decadal low of 1.8% at end-March 2026.
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