London/New Delhi, June 28: Commerce and Industry Minister Piyush Goyal, in his meeting with the diaspora here, highlighted the opportunities emerging from the India-UK CETA, effective from July 15, which will further deepen collaboration across trade, investment, and innovation, contributing to shared prosperity for both nations.

The minister had an engaging evening interacting with the Indian diaspora and business community in London.

“Spoke about the vital role of the diaspora as a living bridge between India and the United Kingdom, strengthening economic, cultural, and people-to-people ties,” Goyal posted on X.

Goyal also interacted with members of the ICAI UK Chapter and emphasised the vital role of the CA community in strengthening the economic ties between India and the UK.

“Also, highlighted how the India-UK CETA will create new avenues for professionals. Urged them to leverage their skills, knowledge and professional expertise to maximise the opportunities arising from the agreement and contribute to the shared growth of both nations,” said the minister.

He also had an insightful discussion with Professor Siddartha Khastgir, Head of Safe Autonomy at Warwick Manufacturing Group (WMG), University of Warwick, on deepening industry-academia collaboration and advancing research-driven innovation.

“A vibrant innovation ecosystem is instrumental in nurturing breakthrough ideas, building globally competitive industries, and shaping the technologies of the future for India and the world,” said Goyal.

In a productive meeting with Dr Vishwajeet Rana, Group CEO of GEDU Global Education, Goyal discussed avenues to further strengthen India-UK collaboration in higher education, skills and innovation.

“Also, exchanged views on leveraging the India-UK CETA to foster stronger industry-academia partnerships and create new opportunities for shared growth between both countries,” he added.

Earlier, Goyal urged Indian companies to deepen engagement with their UK counterparts and translate opportunities under the India-UK Comprehensive Economic and Trade Agreement (CETA) into sustained business growth.

Addressing the ‘India-UK: Partners in Progress Business Plenary’ in London, Goyal said the landmark trade pact offers significant opportunities to strengthen bilateral trade, investment, technology partnerships, innovation and resilient supply chains.

Mumbai, June 28: After ending the holiday-shortened week on a positive note, Dalal Street is likely to take cues from progress in the proposed India-US trade agreement, developments in the Middle East conflict, crude oil prices and foreign investor activity in the coming week.

Lower oil prices and improving risk sentiment helped benchmark indices post modest gains during the last week.

For the week, the Sensex advanced 0.39 per cent to close at 77,100.47, while the Nifty gained 0.18 per cent to settle at 24,056.

A sharp decline in crude oil prices emerged as the biggest positive trigger for the market. With tanker traffic through the Strait of Hormuz returning to normal and tensions in West Asia showing signs of easing, Brent crude prices retreated to near pre-conflict levels.

The decline in oil prices reduced concerns over imported inflation, the current account deficit and rising input costs for Indian companies.

Investor sentiment also improved amid growing expectations of an India-US trade agreement. Commerce and Industry Minister Piyush Goyal said India and the United States are close to concluding a trade deal following discussions with US Trade Representative Jamieson Greer. Market participants view the proposed agreement as an important step toward strengthening bilateral economic ties and boosting trade and investment flows.

At the same time, geopolitical developments in West Asia continued to remain on investors’ radar. The United States carried out strikes on Iran after a drone attack on a cargo vessel in the Strait of Hormuz, an incident that US President Donald Trump described as a violation of the ceasefire agreement. Earlier, a vessel near the coast of Oman was reportedly struck by a projectile, highlighting continuing tensions in the region despite ongoing diplomatic efforts.

Crude oil prices fell more than 3 per cent on Friday and were headed for sharp weekly losses as concerns over supply disruptions eased. The continued movement of oil tankers through the Strait of Hormuz helped calm markets and reduced fears of a major supply shock.

Meanwhile, the Indian rupee strengthened during the week, supported by lower crude oil prices and signs of improving foreign portfolio inflows. However, investors remained cautious over the possibility of further interest rate actions by the US Federal Reserve, which could influence global capital flows.

Mumbai, June 27: The Indian equity benchmarks posted a third consecutive week of gains, over sharp correction in crude oil prices to pre‑Iran war levels and improved traffic at the Strait of Hormuz.

Nifty added 0.18 per cent during the week and edged up 0.14 per cent on the last trading day to reach 24,056. At close, Sensex was up 109 points or 0.14 per cent at 77,100. It added 0.39 per cent during the week.

The domestic markets navigated a week of mixed signals with notable resilience, even as broader indices, especially mid-caps, faced modest selling pressure.

Easing geopolitical risks amid progressing US–Iran talks, and optimism around an India–US trade deal, helped fuel domestic investor sentiment.

However, expectations of rising inflationary pressure and a potential dampening in rural demand began to surface, driven by concerns over uneven monsoon distribution, an analyst said.

Sustained softness in crude prices remains a clear macro positive in the near term along with improving inflation, fiscal, and current account dynamics collectively providing the RBI with greater policy flexibility.

On the sectoral front, pharma and healthcare stocks outperformed, while private banks advanced following the RBI’s clarity on the FCNR(B) deposit swap scheme.

Metals were major loser due to falling commodity prices, while consumer durables lagged amid demand concerns.

Broad market indices showed divergence with benchmark indices, as Nifty Midcap100 lost 1.15 per cent, while Nifty Smallcap100 edged up just 0.03 per cent during the week.

Immediate resistance levels for Nifty are placed at 24,400 and 24,500, and support is seen at 23,900 and 23,800.

Immediate support for Bank Nifty is placed in the 57,500–57,400 zone, while resistance is seen at 58,900 and 59,000.

As corporate earnings reports are expected in the coming weeks, management commentary on demand visibility, margins, and order flows will serve as key indicators for market direction.

“A prudent yet optimistic stance is warranted, with a focus on selectively building positions in fundamentally strong companies that have seen recent corrections without any meaningful deterioration in their underlying outlook,” a market participant said.

Investors remain keen on US PCE data that will shape global, along with non-farm payrolls and unemployment figures, which will influence Fed rate expectations and overall risk appetite.

Domestically, industrial production data and June PMI readings will provide early signals ahead of Q1 earnings season, according to analysts.