India's real gross domestic product (GDP) growth would be steady at 6.5 per cent in fiscal 2026, despite uncertainties stemming from geopolitical turns and trade-related issues led by US tariff actions, a Crisil report said on Thursday.

The forecast is based on two assumptions. These include another spell of normal monsoon and commodity prices continuing to remain soft.

Cooling food inflation, the tax benefits announced in the Union Budget 2025-2026, and lower borrowing costs are expected to drive discretionary consumption, the report mentioned.

Growth is now returning to pre-pandemic rates as fiscal impulse normalises and the high-base effect wears off.

The RBI’s move to inject Rs 1.9 lakh crore has come as a big positive for banks, which is reflected in the rise in the stock prices of both private and public sector banks, as well as Non-Banking Financial Companies (NBFCs) on Thursday.

The Nifty PSU Bank index rose 1.46 per cent, or 86.3 points to hit an intraday high of 5,976.75, while the Nifty Bank index increased 0.72 per cent, adding 349.15 points to hit an intraday high of 48,839.10. Similarly, the Nifty Private Bank index recorded a gain of up to 0.67 per cent in morning trade.

As part of the measures to infuse more liquidity in the banking system, the RBI has announced that it will conduct open market operation (OMO) purchases of government securities worth Rs 1 lakh crore in two tranches of Rs 50,000 crore each. The first auction will be held on March 12 and the second by March 18.

Social security coverage in India has doubled from 24.4 per cent to 48.8 per cent, said Union Minister for Labour and Employment and Youth Affairs and Sports Mansukh Mandaviya.

Addressing the post-budget webinar on the theme ‘Investing in People’, Mandaviya outlined the government’s mission to skill and empower India’s youth, ensuring that talent in the country makes a global impact.

Citing the ILO World Social Security Report 2024-26, he said "India’s social security coverage doubling from 24.4 per cent to 48.8 per cent”.

The expansion of the e-Shram Portal, covering over 30.67 crore unorganised workers, and the inclusion of gig workers under Pradhan Mantri Jan Arogya Yojana (PMJAY), reinforce the government’s commitment to workforce welfare, the Union Minister said.

The Indian benchmark indices opened almost flat on Thursday amid mixed global cues, as selling was seen in the IT and FMCG sectors in the early trade.

At around 9.33 am, Sensex was trading 58.07 points or 0.0.08 per cent down at 73,672.16 while the Nifty declined 12.65 points or 0.06 per cent at 22,324.65.

Nifty Bank was up 205.85 points or 0.42 per cent at 48,695.80. The Nifty Midcap 100 index was trading at 49,649.70 after gaining 481.35 points or 0.98 per cent. Nifty Smallcap 100 index was at 15,429.35 after rising 128.30 points or 0.92 per cent.

According to market watchers, after a positive opening, Nifty can find support at 22,200 followed by 22,100 and 22,000. On the higher side, 22,450 can be an immediate resistance, followed by 22,550 and 22,700.

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday approved the construction of two ropeway projects at a cost of Rs 6,811 crore to provide last mile connectivity to pilgrims visiting the holy temple at Kedarnath and the Gurudwara at Hemkund Sahib, both in Uttarakhand.

The 12.9 km ropeway project from Sonprayag to Kedarnath will be developed on Design, Build, Finance, Operate and Transfer (DBFOT) mode at a total capital cost of Rs. 4,081.28 crore, according to the official statement issued after the CCEA meeting.

The ropeway is planned to be developed in Public-Private Partnership and will be based on the most advanced Tri-cable Detachable Gondola (3S) technology with a design capacity of 1,800 passengers per hour per direction (PPHPD) carrying 18,000 passengers per day.

The Indian stock market made a strong recovery on Wednesday, with both the Sensex and Nifty closing over 1 per cent higher, as US Commerce Secretary Howard Lutnick hinted at possible relief on some tariffs for Mexico and Canada.

This raised hopes that other tariffs might also be reconsidered, which helped cool off investors' sentiment.

The 30-share Sensex surged 740.30 points, or 1.01 per cent, to settle at 73,730.23, after touching the day’s high of 73,933.80 in the intra-day trading session.

The Nifty also ended the day on a strong note at 22,337.30, up 254.65 points or 1.15 per cent, breaking its 10-day losing streak.

Earlier, Nifty had traded between 22,394.90 and 22,067.80 during the session. The index had previously lost 877 points or 3.8 per cent over the last ten trading sessions.

The number of India’s high net-worth individuals (HNWIs), with assets exceeding $10 million, is expected to increase by 9.4 per cent from an estimated 85,698 in 2024 to 93,753 by 2028, reflecting the country’s expanding wealth landscape, according to Knight Frank’s The Wealth Report 2025 released on Wednesday.

In 2024, the number of Indian HNWIs increased by 6 per cent year-on-year to 85,698 from 80,686 in 2023. India is home to 3.7 per cent of the wealthy individuals globally and currently stands in the 4th position after the US (905,413 HNWIs), China (471,634 HNWIs), and Japan (122,119 HNWIs).

The Indian benchmark indices opened higher on Wednesday amid mixed global cues, as buying was seen in auto, IT and PSU Bank sectors in early trade.

At around 9.31 am, Sensex was trading 358.34 points or 0.49 per cent up at 73,348.27 while the Nifty added 106.40 points or 0.48 per cent at 22,189.05.

Nifty Bank was up 147.80 points or 0.31 per cent at 48,393. The Nifty Midcap 100 index was trading at 48,337.15 after adding 329.30 points or 0.69 per cent. Nifty Smallcap 100 index was at 14,909.40 after rising 146.80 points or 0.99 per cent.

According to experts, markets could see a subdued opening tracking overnight weakness in US markets, but optimism in other Asian indices may aid sentiment after benchmark Nifty ended in red for the 10th day in a row on Tuesday.

Indian stock markets closed a tad lower on Tuesday, with both the Sensex and Nifty settling in negative territory following US trade tariffs on Canada and Mexico coming into force from today.

Canada's retaliatory tariffs on US goods further dampened market sentiment.

The 30-share Sensex ended the day at 72,989.93, losing 96 points, or 0.13 per cent, from its previous close. Throughout the day, the index traded between 73,033.18 and 72,633.54.

The Nifty also ended lower, closing at 22,082.65, down by 36.65 points, or 0.17 per cent in the intra-day trade.

During the trading session, the index reached a high of 22,105.05 and a low of 21,964.60.

While a clear bullish trigger is yet to emerge, historical patterns, technical indicators, and sectoral valuations suggest that the Indian market is nearing a medium-term bottom, a report showed on Tuesday.

Therefore, "we would advise investors to allocate some long-term money between 21,700-22,000", said Axis Securities in its 'India Equities Exclusive Report'.

"While most of us can’t catch the exact top and bottom, prudent investing is about cashing in on opportunities, especially when sentiment is so one-sided. One such opportunity is now," the report mentioned.

Valuations across sectors are below their one-year and five-year averages, indicating pockets of potential opportunities for long-term investors.