India-EU FTA Talks Intensify as Markets Consolidate
Indian markets opened with mixed trends amid consolidation, while a senior EU delegation is in New Delhi from November 3 to 7 to resolve outstanding issues in the India-EU Free Trade Agreement. Experts suggest progress on the FTA could boost sentiment, but foreign outflows and global factors are weighing on momentum.
Domestic markets in India showed mixed trends on November 4, with the Nifty opening lower and the Sensex slightly higher, reflecting cautious investor sentiment. Market experts noted that while earnings have been better than expected, upward momentum remains weak as indices struggle to surpass previous highs. Foreign portfolio investor flows have been negative for four consecutive days, and the rupee is near its all-time lows due to a stronger dollar and outflows. A senior team of EU negotiators is in New Delhi from November 3 to 7 to hold detailed discussions with Indian counterparts on the proposed India-EU Free Trade Agreement, aiming to resolve key outstanding issues and advance the agreement. Progress on the FTA is seen as a potential boost to market sentiment. Meanwhile, global cues, including a U.S. government shutdown, are affecting vulnerable sectors and shifting focus to key economic indicators. IPO activity remains strong, with Lenskart Solutions seeing robust subscription and Groww set to open its IPO. Gold prices also began November on a positive note, supported by a weaker rupee and global factors.
