Mumbai, May 30: The domestic benchmark indices opened flat on Friday amid negative Asian cues, as selling was seen in the IT and auto sectors in the early trade.

Stable institutional flows — both FII and DII — are keeping the market steady even in the absence of positive triggers. The ongoing consolidation phase is likely to continue in the near-term, according to analysts.

At around 9.29 am, Sensex was trading 11.77 points or 0.01 per cent up at 81,644.79 while the Nifty added 13.20 point or 0.05 per cent at 24,846.80.

Nifty Bank was up 81.20 points or 0.15 per cent at 55,627.25. The Nifty Midcap 100 index was trading at 57,707.65 after rising 250.40 points or 0.44 per cent. Nifty Smallcap 100 index was at 17,927.15 after climbing 37.75 points or 0.21 per cent.

According to analysts, the Nifty posted a smart recovery in the final minutes of trading on Thursday, after spending most of the first half in the red.

“Although the Nifty is still caught in a sideways market defined by the 24,462 and 25,116 range, yesterday’s rebound traced a long lower shadow and a small real body that was closer to the day’s high, and that’s a bullish sign. Immediate support and resistance lie at 24677 and 25000 respectively,” said Akshay Chinchalkar, Head of Research at Axis Securities.

Meanwhile, in the Sensex pack, Infosys, Tech Mahindra, HCL Tech, Bajaj Finance, IndusInd Bank, Bharti Airtel, Titan and Hindustan Unilever Limited were the top losers. Whereas, Adani Ports, Eternal, Maruti Suzuki and Sun Pharma were the top gainers.

In the Asian markets, Hong Kong, Bangkok, Seoul, China and Japan were trading in the red.

In the last trading session, Dow Jones in the US closed at 42,215.73, up 117.03 points, or 0.28 per cent. The S&P 500 ended with a gain of 23.62 points, or 0.40 per cent, at 5,912.17 and the Nasdaq closed at 19,175.87, up 74.93 points, or 0.39 per cent.

“Investors should understand two distinct big trends that will weigh on markets: One, India’s macros are strong and improving. Two, this positive trend in macros is not getting reflected in corporate earnings,” said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd.

This is the fundamental reason for the range-bound movement of the market.

On the institutional front, foreign institutional investors (FIIs) were net buyers as they bought equities worth 884.03 crore on May 29, while domestic institutional investors (DIIs) purchased equities worth 4,286.50 crore.

According to market watchers, steadily improving macros like resilient GDP growth, down trending inflation and interest rates and declining fiscal and current account deficits lay the foundation for a strong economy and earnings recovery in the medium term.

New Delhi, May 30: India is an attractive investment destination and has the potential to remain the fastest-growing large economy in the world for the next 30 years, Union Minister for Commerce and Industry, Piyush Goyal, has said.

Goyal said the country has maintained sustained growth of 6–7 per cent and hopes to push it to 8 per cent at constant prices.

Speaking at the CII ‘Annual Business Summit 2025’ here, the minister said that even amid international upheavals, “we are among the better-performing emerging markets”.

“Today, India holds the 4th largest foreign exchange reserves in the world at about $690 billion. Our inflation has remained below 4 per cent for the last three months. The Reserve Bank has done a commendable job balancing liquidity and currency management,” he told the gathering.

Goyal highlighted India as an attractive investment destination. “Over the past 20–25 years, Indian companies have delivered nearly 20 per cent CAGR returns, making India a compulsive investment destination. FDI inflows are consistently breaking records. We are back on track on the growth trajectory, working through international trading relations,” he added.

The minister cited progress on various Free Trade Agreements (FTAs), including those with the UAE, Australia, the UK, the four EFTA countries (Iceland, Liechtenstein, Norway, and Switzerland), and the ongoing bilateral trade agreement negotiations with the US.

“We are well on track with our bilateral trade agreement with the USA and making fast progress with the European Union’s 27-nation bloc. We have also launched negotiations with New Zealand,” he stated.

The EFTA countries have committed $100 billion in foreign direct investment (FDI) to India over the next 15 years. This is expected to crystallise into a total investment of $500 billion.

Furthermore, the large ecosystem that will be created around this investment has the potential to attract an additional $500 billion. “We are not aiming small,” said Goyal, emphasising that this figure does not include investments from the Norwegian Pension Fund and represents pure FDI.

He further highlighted that this is the first Free Trade Agreement (FTA) in the world to include such a forward-looking investment clause.

Goyal expressed pride at India’s continued economic progress and stated that the IMF has projected that by 2027, India will be the world’s third largest GDP. He added that despite global volatility, uncertainty and complexity, India remains the fastest-growing economy and continues to power global growth through growth in India.

The minister underlined that growth through trade, resilient supply chains and innovation would remain incomplete without inclusive growth.

New Delhi, May 30: Delhi-NCR is set to witness more rain and stormy weather on Friday, as the India Meteorological Department (IMD) has issued an orange alert for the region, warning of thunderstorms, lightning, and strong winds reaching speeds of 50-60 km/h.

According to the IMD forecast, partly cloudy skies will persist throughout the day, with light to moderate rainfall expected across various parts of the city. Maximum temperatures are likely to hover between 36 and 38 degrees Celsius, while the minimum may range from 26 to 28 degrees Celsius.

The alert was upgraded from yellow to orange following observations of intensified weather activity. On Thursday, parts of Delhi had already experienced light showers and gusty winds reaching up to 60 km/h.

Friday could see stronger winds of up to 70 km/h, the IMD said, increasing the likelihood of waterlogging, traffic disruptions, and minor damage to infrastructure.

The orange alert signifies potentially severe weather conditions that could disrupt normal life, prompting the public to remain cautious and take necessary precautions. The alert is issued when heavy rainfall is anticipated, typically exceeding 115.6 mm and up to 204.4 mm within 24 hours.

Delhi has already witnessed an unprecedented 186.4 mm of rainfall so far this May, making it the wettest May on record for the city. This irregular precipitation pattern is linked to the early advancement of the southwest monsoon, which reached Kerala on May 24, a week ahead of schedule, and Mumbai on May 26, significantly earlier than its usual onset date of June 11.

While the monsoon typically hits Delhi around June 27, the IMD has yet to specify when it will arrive in the capital this year. “We are closely monitoring the progress,” an IMD official said.

Meanwhile, Delhi’s air quality remained in the ‘moderate’ category on Thursday, with the Air Quality Index (AQI) recorded at 151 at 4 p.m., slightly worse than the 133 measured at the same time a day earlier.

Evening showers on Thursday brought temporary relief. However, the rainfall was not intense enough to significantly offset the prevailing humidity and heat.

The IMD advises residents to stay indoors during stormy periods, avoid sheltering under trees, and secure loose outdoor items to prevent accidents or damage.