Nifty Hits Key Level: What’s Next for the Stock Market in the Coming Week?
The Indian stock market is expected to experience heightened volatility in the coming week, driven by a range of domestic and global factors, including the release of Q4 results for FY25, economic data, and developments in the global markets.
Mumbai: The Indian stock market is expected to experience heightened volatility in the coming week, driven by a range of domestic and global factors, including the release of Q4 results for FY25, economic data, and developments in the global markets.
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Key Domestic Triggers: Q4 Results, Industrial Production, and FII Data
Next week will witness the announcement of March quarter results from several major companies, including Adani Green, Adani Total Gas, KPIT Tech, TVS Motors, Ambuja Cements, Bajaj Finserv, Bajaj Finance, BPCL, Adani Power, JSW Infra, and Vedanta. The outcome of these earnings reports will provide key insights into the health of India’s corporate sector and influence market sentiment.
In addition, the Industrial Production (YoY) data for March, scheduled to be released on April 28, will be closely watched. Analysts expect the data to shed light on the performance of India’s manufacturing and industrial sectors. According to Bajaj Broking Research, the data will offer critical insights into the overall economic momentum.
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Global Market Cues: US Economic Data to Impact Market Outlook
On the global front, key economic data from the United States will also impact market movements. The ADP Nonfarm Employment Change for April and the preliminary GDP data (QoQ) for Q1 will be released on April 30. These reports are expected to provide valuable information about the US labor market and the overall pace of economic growth, which will influence investor sentiment globally.
Bajaj Broking Research noted, “These economic releases will likely drive market fluctuations and influence central bank policies, with volatility expected to remain high as we move into May.”
Performance Recap: Indian Stock Market Shows Positive Momentum
The Indian stock market closed on a positive note last week, with the Sensex and Nifty both rising by approximately 0.80%. The Sensex closed at 79,212.53, while the Nifty settled at 24,039.35. The upward movement was fueled by positive sentiment surrounding the bilateral trade agreement between India and the United States, as well as easing concerns over the US-China trade dispute.
On a sectoral basis, the IT sector emerged as the top performer with a notable weekly gain of 6.56%, while the Media sector underperformed, declining by 2.11%.
Foreign and Domestic Institutional Buying
Foreign Portfolio Investors (FPIs) turned aggressive net buyers during the week, attracted by favorable valuations, particularly in the financial sector. FPIs injected approximately Rs 17,800 crore into the cash segment, while Domestic Institutional Investors (DIIs) contributed around Rs 1,132 crore.
Technical Outlook: Nifty 50 Trends
Puneet Singhania, Director at Master Trust Group, highlighted the positive market trend, noting, “The Nifty 50 saw a 0.79% rise this week, marking its second consecutive gain, signaling a positive market trend. The index closed above the key psychological level of 24,000, a significant technical barrier.”
For the upcoming week, Singhania pointed out, “Immediate support levels are placed at 23,800 and 23,500, aligning with the 21-day exponential moving average (DEMA). On the upside, resistance is seen at 24,360, and a move above this level may open the path toward 24,700.”
Important Dates: Market Closed on May 1
Investors should note that the stock market will be closed on May 1 in observance of Maharashtra Day.
As the market braces for next week, investors are advised to stay informed on key economic and corporate data that will shape the outlook for Indian equities.
