Key drivers for the upcoming week: Q4 results, auto sales, and global cues will shape market outlook.

The forthcoming week’s market outlook is set to be shaped by various national and global factors including Q4 results for FY25, IIP & FII data, and economic statistics from the US. In the upcoming days, significant companies such as Adani Green, Adani Total Gas, KPIT Tech, TVS Motors, Ambuja Cements, Bajaj Finserv, Bajaj Finance, BPCL, Adani Power, JSW Infra, and Vedanta are slated to reveal their quarterly earnings.

Of particular interest in India will be the Industrial Production (YoY) numbers for March, due for release on April 28. This data will furnish insights into the resilience of the country’s manufacturing and industrial realms, as per Bajaj Broking Research. Meanwhile, in the United States, April 30 is scheduled to witness crucial disclosures, encompassing the ADP Nonfarm Employment Change for April and the preliminary GDP data (QoQ) for the initial quarter, both pivotal gauges for evaluating the labor market and overall economic expansion.

Bajaj Broking revealed, “These announcements are expected to exert an influence on market trends, depict central bank perspectives, and sustain market volatility as the new month commences.” The concluding week saw an upturn in the Indian stock markets, with both Sensex and Nifty appreciating by roughly 0.80%, closing at 79,212.53 and 24,039.35, respectively.

This upbeat trajectory was largely fueled by headway in the bilateral trade pact between India and the United States, coupled with alleviating tensions related to the US-China trade friction, both of which uplifted investor morale. In terms of sectors, the IT segment emerged as the foremost performer, recording a weekly upsurge of 6.56%, whereas the Media sector experienced a decline of 2.11%.

Foreign Portfolio Investors (FPIs) materialized as assertive net buyers, lured by favorable valuations in the financial domain. FPIs infused around Rs 17,800 crore into the cash segment through the week, as opposed to Domestic Institutional Investors (DIIs) who contributed approximately Rs 1,132 crore.

Note that May 1 will witness the closure of the stock market on account of Maharashtra Day. Puneet Singhania, Director at Master Trust Group, remarked, “This week marked a 0.79% increase in the Nifty 50, thereby reflecting a positive market trajectory for the second consecutive week and closing above the crucial psychological benchmark of 24,000.”

Singhania added, “Immediate support levels are situated at 23,800 and 23,500, also coinciding with the 21DEMA. Upside resistance is observed at 24,360, with a breakthrough potentially paving the way for 24,700.”

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