Indian stock market: Indian indices – Sensex and Nifty – closed in red after two straight weeks of gains, dragged down by rising geopolitical tensions and subdued earnings commentary from major IT firms.
After a brief early rise, benchmark indices stayed under pressure for most of the week due to sustained selling. As a result, the slipped 1.87% to end at 23,897.95, while the Sensex dropped 2.33% to settle at 76,664.21.
Stock Market Outlook next week
According to Ponmudi R, CEO, Enrich Money, markets are expected to remain highly news-driven and volatile, with key focus on developments in U.S.–Iran negotiations, trends in crude oil prices, and broader global cues.
Ponmudi noted that stability or a decline in oil prices could help ease macro concerns and support risk sentiment, while any escalation or prolonged disruption in the Strait of Hormuz may trigger renewed volatility and profit booking. Currency movements and global market trends will also play a crucial role in shaping direction.
“Overall, while there is potential for recovery on positive triggers, the sustainability of any upmove will depend on geopolitical de-escalation, moderation in crude oil prices, and sustained buying interest. Until clearer directional cues emerge, markets are likely to remain range-bound with a cautious bias, warranting a disciplined and risk-managed approach,” he said.
Top 5 triggers for the Indian stock market
1] US Fed meeting
The Federal Open Market Committee (FOMC) is set to meet on April 28–29, with markets expecting interest rates to be kept unchanged for a third consecutive meeting.
The Federal Reserve’s benchmark rate currently stands between 3.5% and 3.75%. Policymakers had already opted to pause in January and March, following three quarter-point rate cuts during their meetings last fall.
“The US Federal Reserve’s policy decision will be a key event, providing cues on interest rate trajectory and liquidity conditions,” said Ajit Mishra, SVP, Research, Religare Broking, in a note.
2] Q4 results 2026
The season is all set to continue for the third week as more than 200 companies are scheduled to release their financial results for the quarter ending on March 31, 2026.
Maruti Suzuki, Eternal (Zomato), Ultratech Cement, Vedanta, Adani Enterprises, and Hindustan Unilever are some of the marquee companies to report their Q4 results 2026 next week.
“The ongoing Q4 earnings season is expected to act as a key catalyst for stock-specific price action, with market participants closely tracking reported numbers, forward guidance, and sectoral outlooks to reassess earnings visibility and valuation comfort across segments. Performance of heavyweight stocks and key sectors will remain critical in influencing overall index direction,” Ponmudi added.
3] US-Iran war
The ongoing US-Iran war will continue to be one of the key driving factors for the stock market, as Donald Trump called off a planned visit by US officials to Pakistan for discussions on the Iran conflict on Saturday, shortly after Iran’s delegation departed from Islamabad.
The US president said that special envoy Steve Witkoff and his son-in-law Jared Kushner would be wasting “too much time,” adding that if Iran wished to engage, “all they have to do is call.”
Earlier, Iran’s Foreign Minister Abbas Aragchi met with Pakistani mediators, stating afterwards that he had conveyed Iran’s stance on ending the war but remained uncertain whether the US was “truly serious about diplomacy.”
Diplomatic progress has remained limited despite Trump extending a ceasefire—originally set to expire on April 22—to allow more time for negotiations.
4] Crude oil prices
Oil prices swung sharply in volatile trading on Friday but ended the week higher, as market participants balanced concerns over supply disruptions with hopes that renewed U.S.-Iran peace talks could ease those risks.
settled at $105.33 per barrel, up 26 cents or around 0.3%, while US West Texas Intermediate futures closed at $94.40 per barrel, down $1.45 or 1.5%. On a weekly basis, Brent advanced roughly 16%, and WTI climbed nearly 13%.
5] FII outflows
Foreign investors (FIIs or FPIs) were net sellers of Indian equities worth ₹8,828 crore on April 24, marking their largest outflow since April 7. Meanwhile, domestic institutional investors (DIIs) remained net buyers, purchasing shares worth ₹4,701 crore, as per provisional exchange data.
During the session, DIIs bought equities worth ₹21,560 crore and sold ₹16,859 crore. In comparison, FIIs acquired shares worth ₹9,837 crore but offloaded equities totaling ₹18,665 crore.
So far this year, FIIs have recorded net sales of ₹2.25 lakh crore, whereas DIIs have been net buyers to the tune of ₹2.79 lakh crore.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.