Indian equity markets are likely to make flat-to-positive start on Monday, amid positive cues from global markets. However, traders are likely to adopt wait-and-watch approach ahead of the outcomes of assembly elections in four states and one union territory later in the day, as well as the release of the HSBC Manufacturing PMI Final data. 

Some of the key factors to be watched: 

GST collections surge to record high of Rs 2.43 lakh crore in April: The government data showed that Gross GST collection rose 8.7 per cent in April to a record of about Rs 2.43 lakh crore in April as growth in import-led revenues outpaced domestic transactions.

India, UK discuss ways to boost bilateral trade: Commerce and Industry Minister Piyush Goyal said that India and the UK have discussed ways to boost two-way commerce and investments and leverage opportunities under the comprehensive economic and trade agreement signed in July last year.

RBI to keep on deepening financial markets: Reserve Bank of India (RBI) Governor Sanjay Malhotra said the Reserve Bank will keep on deepening financial markets, broadening participation, and further strengthening institutional frameworks, as India's macroeconomic fundamentals remain strong.

India and Ecuador exploring preferential trade deal to boost economic ties: Ministry of External Affairs (MEA) said that India and Ecuador are looking at the possibility of firming up a preferential trade pact, besides agreeing to shore up cooperation in areas of healthcare, agriculture and digital technology.

Sugar stocks will be in focus: The report said that India is likely to export only 7.5 to 8 lakh tonnes of sugar in the current 2025-26 marketing season (October-September) due to unfavourable global price parity.

Global front: The US markets ended in green on Friday supported by a strong rally in Apple shares, which climbed 3.9%. Asian markets are trading in green on Monday tracking positive cues from Wall Street overnight. 

Back home, Indian equity benchmarks ended around 0.75% lower on Thursday due to sharp surge in crude oil prices amid escalating geopolitical tensions in the West Asia and concerns over supply disruptions through the Strait of Hormuz. Besides, weak global trends and foreign fund outflows weighed on investor sentiment. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,468.42 crore on Wednesday, according to exchange data. Finally, the BSE Sensex fell 582.86 points or 0.75% to 76,913.50 and the CNX Nifty was down by 180.10 points or 0.74% to 23,997.55. 

Some of the important factors in trade:

West Asia conflict raises inflation risks; India's domestic strength offers cushion: The Finance Ministry’s report said the ongoing conflict in West Asia poses a significant supply-side shock with rising risks to inflation, trade and financial flows, though India’s strong domestic demand, policy buffers, resilient financial system and continued public investment are expected to provide a measure of insulation to the economy.

FDI in India may cross $90 billion in 2025-26: DPIIT Secretary Amardeep Singh Bhatia said the total foreign direct investment (FDI) in India has crossed $88 billion during April-February FY26, and it is likely to reach $90 billion in the last fiscal. 

Cost of funds for NBFCs, HFCs may rise marginally over medium term: India Ratings and Research said the cost of funds for non-banking finance companies (NBFCs) and housing finance companies (HFCs) could rise marginally over the medium term amid geopolitical tensions, uncertain macroeconomic conditions and the limited transmission of policy rate cuts by banks.