Indian equity markets are set to open on a cautious but positive note on Friday, August 29, as traders look to shake off a two-day losing streak. Focus will be firmly on the Annual General Meeting (AGM) of Reliance Industries, scheduled for later in the day, along with key domestic macroeconomic data releases.
At 7:40 AM, GIFT Nifty futures were up 16 points, or 0.06 per cent, indicating a flat-to-positive start for benchmark indices.
Reliance AGM in Spotlight
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The AGM of India’s most valuable company, Reliance Industries, will be closely tracked by investors for major announcements across its businesses — including telecom, retail, green energy, and digital platforms. Market participants are also hoping for updates on succession planning and Jio Financial’s next steps.
Global Cues Mixed
Asian equities were trading mixed in early deals. Japan’s Nikkei and South Korea’s KOSPI slipped slightly, while US markets ended higher overnight. The S&P 500 rose 0.32 per cent, and the Nasdaq gained 0.53 per cent, supported by stronger-than-expected economic growth data.
Domestic Cues to Watch
Apart from the Reliance AGM, several companies including NTPC, ONGC, SBI Life, IndusInd Bank, Apollo Hospitals, and SBI Cards will also hold their AGMs today.
On the macro front, key data releases due post-market hours include:
India’s Q1 GDP (April–June)
Fiscal deficit data for April–July
Weekly foreign exchange reserves
IPO Tracker
In the primary markets:
Mainboard IPOs of Vikran Engineering and Anlon Healthcare enter their final day of bidding.
In the SME segment, Current Infraprojects and Sattva Engineering Construction IPOs also close today, while Oval Projects Engineering will see day two of bidding.
