Stock Market Outlook: The stock market is likely to be guided by developments in West Asia, movements in crude oil prices, and the ongoing March-quarter earnings season in a holiday-shortened week ahead, with markets closed on Friday (May 1) for Maharashtra Day. The situation in West Asia, particularly around the Strait of Hormuz, will be closely tracked as it may influence crude oil prices and overall sentiment.
Iranian Foreign Minister Abbas Araghchi arrived in Pakistan on Sunday for the second time in three days amid uncertainty over the second round of peace talks with the United States. The domestic markets may also take cues from US President Donald Trump’s remarks on Sunday that the Iran conflict could end "very soon", while indicating openness to negotiations.
Stock Market Outlook: Q4 Results
Apart from geopolitical developments, the Q4 FY26 earnings season will gather pace, with companies from banking, financials, cement, metals and consumption sectors scheduled to announce results. Investors will monitor management commentary on input costs, demand outlook and margins.
Key results scheduled include UltraTech Cement, Coal India and Varun Beverages on April 27; Maruti Suzuki on April 28; Bajaj Finance and Adani Power on April 29; and Hindustan Unilever, Adani Ports, Adani Enterprises and Bajaj Finserv on April 30.
Stock Market Outlook: Key Data
On the macroeconomic front, Industrial Production (IIP) data for March will be released on April 28, while foreign exchange reserves data is due on May 1. Globally, the US Federal Reserve’s policy decision on April 29, along with US Q1 GDP advance estimates and ISM Manufacturing PMI, will be key triggers, said Santosh Meena, Head of Research at Swastika Investmart Ltd.
Stock Market Outlook: FII Activity
Foreign institutional investor (FII) activity will also be closely watched amid uncertainty linked to the West Asia situation and fluctuations in crude oil prices. FPIs turned buyers on three days in the third week of April, supported by a stronger rupee and easing crude prices, but reversed trend and turned sellers in the following week.
Stock Market Outlook: Nifty Key Levels
On the technical front, the Nifty has slipped below its key support level of 23,900, indicating a negative near-term bias. Immediate support is seen around 23,500. On the upside, the 24,200–24,500 zone is expected to act as a strong resistance band. Any rebound towards these levels may face selling pressure unless supported by easing crude prices and improved global cues, said Ajit Mishra, SVP, Research at Religare Broking.
Last week, the Sensex tanked 1,829.33 points or 2.33 percent, and the Nifty dropped 455.6 points or 1.87 percent.
