Daijiworld Media Network - Mumbai
Mumbai, Apr 20: The Indian equity markets face a significant week ahead (April 21–25), driven by corporate earnings, macroeconomic data, and global cues. A slew of prominent companies, including HCL Tech, Axis Bank, Hindustan Unilever, and RBL Bank, will release their Q4 FY25 results, which could provide important signals on sector performance.
Bajaj Broking Research notes that April 23 will be a key day, with the release of S&P Global Manufacturing and Services PMI data, offering insights into India’s industrial and service sectors. Additionally, the RBI’s MPC meeting minutes will be published, giving investors a deeper understanding of the central bank’s policy outlook.
On the global front, US S&P Global PMI data and the Initial Jobless Claims report on April 23 and 24, respectively, will provide crucial information on the US economy and labor market, influencing expectations for Federal Reserve policy.
Despite a short week, Indian markets saw a strong rally, with Nifty rising 4.48% and Sensex climbing 4.52%. Banking stocks led the gains, and positive global factors, including a temporary US tariff pause and the RBI’s 25-basis point rate cut, helped boost sentiment.
Foreign Portfolio Investors (FPIs) have turned net buyers, injecting over $1 billion into Indian equities in recent days. Vishnu Kant Upadhyay, AVP – Research & Advisory at Master Capital Services, sees the market testing resistance levels between 23,800 and 24,000, with a potential breakout towards 24,800.
With earnings and crucial data ahead, the market is set for an eventful week that will shape its near-term direction.