Indian equity markets are likely to open on a positive note on Friday amid strong macroeconomic numbers. at 29,330 signals a gap-up opening of 40 points. Analysts expect volume to remain low and the market to witness lacklustre activity. All eyes are on foreign portfolio investors. After remaining net sellers of over ₹1.6 lakh crore in Indian equities, experts believe FPIs will return as buyers soon, given India’s macroeconomic stability.
About ₹1.75 lakh crore in Goods and Services Tax (GST) receipts were received in December, a 6.1% improvement over the year-ago period. However, net domestic collection under GST (after adjusting for funds) in December declined by more than 5 per cent, data made public on the GST portal showed. Karthik Mani, Partner, Indirect tax at BDO India, said: The net GST Collections for December 2025 showed a drop of about 4.3 per cent on a month-on-month basis, largely due to a significant increase in refunds issued as well as a slight drop in gross GST collections on domestic transactions.
“While the GST collections on imports have shown an uptick in December 2025, it was not sufficient to cover the shortfall in domestic collections due to increased refunds and reduced gross GST collections. However, the gross GST collections on domestic transactions for December 2025 have largely remained flat on year on year basis, despite impact on revenue in current period due to major rate cuts in September 2025, indicating some improvement in the economic activity on a year on year basis. Next few months should give a decent indication of new normal monthly GST collections, after adjusting for rate cuts,” he said.
Most markets across the Asia-Pacific region are closed. However, Korea’s Kospi is marginally ahead in the early deal.
Ponmudi R, CEO of Enrich Money, said Indian equity markets are set to begin the second trading session of 2026 on a cautiously positive and stable note. As international markets reopen gradually, overseas cues remain limited, keeping early trade largely driven by domestic factors, he said, adding that “With the Q3 earnings season approaching, investors are positioning for resilient results in consumer-oriented sectors, underpinned by GST rationalisation tailwinds and robust festive-season demand. Steady domestic institutional inflows continue to provide broader support, helping offset aggressive selling by foreign investors.”