Mumbai, June 7: After starting the week with consolidation, the domestic market exhibited resilience amid concerns over tariff wars and geopolitical escalations, analysts said on Saturday.

Markets consolidated for the third consecutive week but managed to end higher by nearly a per cent, buoyed by favourable domestic cues.

After remaining range-bound for most of the week, benchmark indices surged sharply on Friday and settled near the week’s high, with the Nifty closing at 25,003 and the Sensex at 82,118.99.

“The highlight of the week was the RBI’s policy announcement, which took the market by surprise. The central bank implemented a sharper-than-expected 50 bps repo rate cut and a 100 bps CRR reduction, signalling a strong pro-growth stance. Notably, the policy stance was also shifted from ‘accommodative’ to ‘neutral’ — a move that came sooner than expected,” said Ajit Mishra, SVP, Research, Religare Broking Ltd.

By front-loading its easing measures, the RBI has underscored its commitment to reviving domestic growth amid global uncertainties. While such a bold approach was expected to unfold gradually, this decisive action reinforces confidence in the central bank’s intent to support economic recovery while managing inflation risks.

This week, sectoral performance was broadly positive, with rate-sensitive sectors witnessing strong buying interest. Realty, auto, and banking stocks led the rally, reflecting improved outlooks for credit growth and consumer sentiment. Financials and NBFCs also gained, as lower interest rates are expected to enhance borrowing conditions.

Conversely, IT stocks underperformed due to persistent global uncertainties, particularly in the U.S. and European markets. In the broader markets, both midcap and smallcap indices outperformed the benchmarks, reflecting a risk-on sentiment among investors, with gains ranging between 2.8 per cent and 4 per cent.

According to Vinod Nair, Head of Research, Geojit Investments Ltd, bolstered by supportive macro indicators such as strong Q4 GDP, GST collection and a favourable monsoon, investors focused on domestically oriented and interest-sensitive sectors such as financials, real estate, retail and FMCG, which saw strength, supported by strong institutional inflows.

Profit booking was visible during the week on account of the ongoing global uncertainty. Mid and small caps generally outperformed large caps, driven by better earnings and valuations.

“While China’s rare earth restrictions pose long-term risks and investors await the inflation print in the US, the aggressive RBI rate cut, backed by cooling inflation and a steady GDP outlook, is likely to support investor confidence amidst the ongoing global uncertainties,” Nair noted.

Going forward, market participants will focus on key macroeconomic data for further cues. High-frequency indicators such as CPI inflation will be closely tracked to gauge demand trends and the central bank’s next steps, said experts.

New Delhi, June 7: India has taken a proactive and forward-thinking approach to extreme heat risk management under the leadership of Prime Minister Narendra Modi, said Dr PK Mishra, Principal Secretary to the Prime Minister.

Delivering the keynote address during the Special Session on Extreme Heat Risk Governance in Geneva, he underlined that rising temperatures posing a systemic risk to public health, economic stability, and ecological resilience.

“India welcomes the United Nations Office for Disaster Risk Reduction’s (UNDRR) initiative to advance the Common Framework for Extreme Heat Risk Governance as a platform for shared learning, guidance, and collaboration,” he told the gathering, according to a Prime Minister’s Office (PMO) statement on Saturday.

Dr Mishra pointed out that India has moved beyond disaster response toward integrated preparedness and mitigation strategies. Since 2016, the National Disaster Management Authority (NDMA) has developed comprehensive national guidelines on heatwave management, revised in 2019, which laid the foundation for decentralised Heat Action Plans (HAPs).

He acknowledged the pioneering ‘Ahmedabad Heat Action Plan’, which demonstrated how early warnings, inter-agency coordination, and community outreach can save lives.

“Over 250 cities and districts across 23 heat-prone states have operational Heat Action Plans, supported by NDMA’s advisory, technical, and institutional mechanisms”, said the Principal Secretary, underscoring that strengthened surveillance, hospital readiness, and awareness campaigns have significantly reduced heatwave-related mortality.

India’s approach is whole-of-government and whole-of-society, engaging ministries from health, agriculture, urban development, labour, power, water, education, and infrastructure.

“Extreme heat deeply impacts communities, and India has actively incorporated traditional wisdom and local experiences into its response”, said Dr Mishra.

He noted that schools have become catalysts for behavioural change, educating children about climate resilience. He also emphasised that hospitals and primary health centres must be strengthened to ensure swift and effective emergency responses.

Outlining India’s transition from a preparedness-only approach to long-term heatwave mitigation, including cool roof technologies, passive cooling centres, urban greening, and the revival of traditional water bodies, Mishra affirmed that India is integrating Urban Heat Island (UHI) assessments into city planning.

He called for a global focus on developing a localised heat-humidity index based on real-time data to enhance early warning systems, advancing building technologies and passive cooling innovations that are affordable and culturally appropriate and addressing equity concerns, as extreme heat disproportionately affects women, outdoor workers, the elderly, and children.

New Delhi, June 3: The India Cellular and Electronics Association (ICEA) on Tuesday announced a unique industry-wide initiative to collaboratively foster tech and AI innovation for the benefit of India’s manufacturing sector.

The programme will connect companies with transformative innovations across domains such as advanced manufacturing, AI, IoT, energy efficiency, materials science, and more.

The ICEA launched Venture Access Labs — a technology innovation access programme in collaboration with venture capital fund Caret Capital.

This initiative aims to empower India’s electronics and appliances manufacturing companies by enabling them to discover, curate, and adopt cutting-edge technologies and innovations from across the world.

“Through Venture Access Labs, ICEA is proud to champion and unlock global innovation to strengthen India’s position as a global hub for manufacturing and electronics with a vision to build Indian Champions,” said Pankaj Mohindroo, Chairman, ICEA.

“By opening the door to international technological advancements and building an innovation pipeline, we aim to accelerate India’s electronics manufacturing capabilities and global competitiveness so as to capture a larger global market share,” he added.

The comprehensive programme will cover several functions including procurement, planning, manufacturing, supply chain, finance, HR, legal and ESG.

Through this programme, companies will benefit from innovation trend spotting, curated access to high-impact startups and Ips, strategic matchmaking and pilot opportunities, tailored adoption pathways for new technologies, and facilitated investments in strategically relevant, vetted high-potential startups.

“It is time for the Indian electronics and appliances manufacturing to transit to tech first-led global leadership,” said Salil Kapoor, Co-founder and Chief mentor of Venture Access Labs.

It will be the innovation catalyst and partner, scanning and curating the latest tech and game-changing startups from across the world for Indian manufacturing companies to engage with, at a fraction of the cost if they were to do it on their own,” he mentioned.