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Typically, around 60% of government expenditure occurs in the first six months of a financial year. The Centre has earmarked Rs 10 lakh crore in the current fiscal for capex. Last fiscal, the government adopted a slower approach to capex spending until clarity emerged on its revenue streams, analysts said. According to analysts, it was likely that amid its large spending push, the government was currently availing of the WMA.

For instance, JPMorgan maintained its underweight rating and slashed its revenue estimate by 1% and margin by 20 basis points (bps), resulting in a 2% EPS cut for the next fiscal. Its revised price target represents a 15% downside from the current levels.

"This marks the third ESG-linked loan in our inclusive finance journey with $80 million raised so far," managing director Udaya Kumar Hebbar said.

All three major U.S. stock indexes surged more than 1%, with interest rate sensitive megacaps including Apple Inc , Microsoft Corp and Amazon.com providing the most upside muscle and pushing the tech-heavy Nasdaq up nearly 2% to its biggest one-day percentage jump in nearly a month.

The Monetary Authority of Singapore (MAS) surprised many by leaving policy unchanged, saying the tightening already underway would ensure inflation slowed sharply later this year.

Gold prices edged higher on Friday, set for a second consecutive weekly gain, as the U.S. dollar eased and recent economic data prompted bets that the Federal Reserve is nearing the end of its rate-hike cycle.

In Quest Smart Alpha Rising Leaders, the fund would focus on identifying 20-30 unique companies in the smallcap and midcap space in sectors which have the potential to deliver significantly higher growth than they have in the recent past owing to various structural and company level changes.

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Speaking at AIF & PMS Conclave 1.0 Summit, Sharma said the Indian market offers a huge opportunity in terms of bottom up companies. "Market opportunities in India are huge. Irrespective of foreign flows, India has done well and will continue to do well."

Provisional numbers shared by the lender earlier this month showed that advances grew about 17% on year to Rs 16 lakh crore as of March-end, and was up 6% from December-end.