A mix of global and domestic factors, such as the upcoming US Federal Reserve policy decision, ongoing earnings season, geopolitical tensions, and crude oil price movements, will influence the Indian stock market in the upcoming week. The Sensex and Nifty closed lower after two consecutive weeks of gains, impacted by rising geopolitical tensions and cautious statements from major IT companies. Despite an initial uptick, markets faced sustained selling pressure throughout the week.
The Nifty saw a 1.87% decline, settling at 23,897.95, while the Sensex dropped by 2.33% to end at 76,664.21. Analysts noted that the immediate resistance for Nifty is at 24,000, followed by 24,150 and 24,350 levels, with support levels at 23,800 and 23,700. A significant breakdown below 23,500 could lead to further downside pressure.
Investors will closely monitor the upcoming Federal Open Market Committee meeting scheduled for April 28–29, with expectations of the US Federal Reserve maintaining interest rates for the third consecutive meeting. Additionally, the fourth-quarter earnings season will gain momentum, with over 200 companies announcing results for the quarter ended March 31, 2026. Market participants will scrutinize corporate commentary for insights on demand outlook, margin pressures, and sectoral trends, especially post-muted guidance from IT giants.
Geopolitical developments, particularly tensions related to the US-Iran situation, will also be a focus. Recent comments by Donald Trump on engagement with Iran have added to uncertainty, impacting global markets. Any escalation or de-escalation in these tensions could directly affect investor sentiment. Moreover, fluctuating crude oil prices, driven by supply concerns and expectations of renewed US-Iran talks, will be a crucial variable influencing market direction.
