Mumbai: Indian stock markets will closely track developments around US-Iran peace talks, crude oil prices, and Q4 earnings for FY26. These factors are expected to guide market direction in the coming days.
Global Cues Support Sentiment
Easing tensions in the Middle East and softer crude oil prices have helped improve global sentiment. Temporary stability in the Strait of Hormuz has reduced supply concerns, supporting equity markets.
Lower crude prices are especially positive for India, as they help control inflation and improve the overall economic outlook.
Market Performance Last Week
Benchmark indices Nifty 50 and BSE Sensex gained over 1% each, ending at 24,353 and 78,493 respectively. Markets remained slightly volatile but continued their upward trend for the second straight week.
Broader markets performed better than large-cap stocks, showing strong participation from mid and small-cap segments.
FIIs and DIIs Trend
Foreign institutional investors (FIIs) showed early signs of returning, turning net buyers in the last three sessions. However, overall weekly flows remained slightly negative at around ₹250 crore.
On the other hand, domestic institutional investors (DIIs), who had been supporting the market, booked profits and turned net sellers. Their weekly outflows stood at about ₹6,300 crore.
Technical View: Important Levels
Nifty is currently moving in a narrow range of 24,100–24,400. Immediate resistance is near 24,400, while support is around 24,000.
If Nifty breaks above 24,400 and sustains, it could move towards 24,800–25,000 levels. For Bank Nifty, the 56,800–57,000 zone is a key resistance. A breakout above this could push it to 58,000 levels.
Sector Outlook
Energy and metal sectors are expected to remain strong due to global trends. Other sectors may also see movement, but on a rotational basis.
Experts suggest focusing on strong large-cap stocks while selectively investing in mid and small caps.
Key Data to Watch
On the macro front, investors will track infrastructure output data on April 20 and PMI data (Manufacturing, Services, Composite) on April 23. These indicators will provide insights into India’s economic health.
