Indian equity markets are likely to make a cautious start on Friday, weighed down by weak global cues following a sell-off in AI stocks and mixed US labour market data. Traders are likely to adopt a wait-and-watch approach ahead of the release of the India's HSBC Composite PMI Flash. Additionally, sentiment may remain subdued after India’s growth of eight key infrastructure sectors remained flat in October.

Some of the key factors to be watched:

India’s core industries growth flat in October: Government data showed that the growth of India's eight key infrastructure sectors remained flat in October as expansion in output of petroleum refinery products, fertiliser and steel was offset by a contraction in coal and electricity production.

India, Israel ink terms of reference to formally launch FTA talks: Commerce and Industry Minister Piyush Goyal said that India and Israel inked terms of reference (ToR) to formally launch negotiations for a free trade agreement.

Remarkable expansion across all pillars of India-Australia cooperation: External Affairs Minister S Jaishankar said that there has been a 'remarkable expansion' across all pillars of the India-Australia cooperation, including trade and investment, defence and security, education and skills, science and technology, and space and energy, but most of all in 'our vibrant people-to-people links'.

More Indian lenders to appear in top 100 global banks list soon: RBI Governor Sanjay Malhotra said that India will soon have more domestic lenders featured in the top 100 global banks list, given the pace of economic expansion and growth in the banking system.

Farm sector can maintain 4% growth over next 10 years: Niti Aayog member Ramesh Chand has said that India's agriculture sector can easily maintain a 4 percent growth rate over the next 10 years, and the country needs to enhance its warehouse infrastructure. 

On the global front: The US markets ended in red on Thursday amid concerns about the outlook for interest rates following the release of the Labor Department's long-delayed report on employment in the month of September. Asian markets trading in red on Friday, following the broadly negative cues from Wall Street overnight, as traders further scaled down their expectations for another U.S. Fed interest rate cut in December.

Back home, extending gains for the second consecutive day, Indian equity benchmarks ended on strong note on Thursday on buying in Energy, Capital Goods and Banking shares and fresh foreign fund inflows. Foreign institutional investors (FIIs) turned buyers on Wednesday. They bought equities worth Rs 1,580.72 crore in the previous trade, according to exchange data. Optimism around India-US trade talks and progress on phase-1 agreements, also boosted sentiment. Finally, the BSE Sensex rose 446.21 points or 0.52% to 85,632.68 and the CNX Nifty was up by 139.50 points or 0.54% to 26,192.15.

Some of the important factors in trade:

India offers huge investment opportunities for Israeli businesses: Sentiments remained upbeat as Commerce and Industry Minister Piyush Goyal said that India offers huge investment opportunities for Israeli businesses and the industries of both sides can enhance cooperation in areas like infrastructure development, manufacturing and artificial intelligence.

Government releases 21st installment of PM-Kisan: The Government has released the 21st instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on November 19, 2025. Under this instalment, nearly 9 crore farmers across the country received approximately Rs 18,000 crore in direct financial assistance through the Direct Benefit Transfer (DBT) system. 

Non-bank lenders' home loan growth likely to slow down in FY26: Crisil in its latest report has said that non-bank lenders' home loan growth will slow down in FY26 owing to aggressive play by state-run banks in the market.