Indian equities retreated on Friday, with the Sensex and Nifty snapping a three-day winning streak that had been buoyed by hopes of U.S. Federal Reserve rate cuts and progress in trade talks between New Delhi and Washington.

The Indian Rupee saw a volatile week, closing nearly unchanged on Friday. It initially rose to a two-week high before retreating. This happened as the dollar and U.S. bond yields increased despite a U.S. rate cut. The rupee is expected to trade between 87.50 and 88.50. Concerns about U.S. tariffs continue to weigh on the currency.

As Apple’s iPhone 17 sparks long queues and pre-orders, Vijay Kedia urges buyers to rethink spending Rs 1 lakh on a phone versus investing it for wealth creation and future gains.

GST rationalization in India is set to boost consumption, particularly for middle- and lower-middle-income households. Cuts in one-third of household spending, including autos, processed foods, and durables, coincide with low inflation and income tax relief. Festive season sales may accelerate pass-through, supporting FY26 consumption-led growth despite short-term fiscal impact.

Securities and Exchange Board of India and the Reserve Bank of India are in discussions on corporate bond index derivatives to strengthen trading activity in corporate debt securities, Sebi whole-time member Ananth Narayan G said on Friday.

Several NSE midcap companies, including Vodafone Idea and HPCL, show high EV/MCAP ratios, signaling elevated debt levels and financial risk, which may impact investor confidence and market valuation.

Bank of Japan maintains interest rates. However, it signals a possible future tightening of monetary policy. This decision surprises markets. Nikkei declines, and the yen strengthens. The central bank plans to sell its ETF holdings. Japanese government bond yields rise. Investors anticipate potential rate hikes later this year. Focus now shifts to Governor Kazuo Ueda s upcoming news conference.

JSW Energy shares surged following the announcement of JSW Neo Energy s acquisition of Tidong Power Generation for Rs 39 crore, supporting its 30 GW renewable energy target by FY 2030. Additionally, GE Power s boiler business demerger into JSW Energy, with a share exchange ratio, further fueled investor optimism.

Bloomberg Index Services is gauging investor sentiment regarding the inclusion of Indian government bonds in its global aggregate index, following their addition to the emerging market local currency bond index in January 2025. With $502 billion in fully accessible securities, India could attain a 0.7% weightage, becoming the ninth largest in the index.