Daijiworld Media Network - Mumbai
Mumbai, Apr 27: The market outlook for the coming week will be shaped by key domestic and global factors, including Q4 earnings, IIP data, FII activity, and crucial economic indicators from the US.
Several major companies, including Adani Green, Adani Total Gas, KPIT Technologies, TVS Motors, Ambuja Cements, Bajaj Finserv, Bajaj Finance, BPCL, Adani Power, JSW Infrastructure, and Vedanta, are set to announce their March quarter results, which could drive sectoral and stock-specific movements.
In India, investors will closely watch the release of Industrial Production (YoY) data for March, scheduled for April 28, which will provide critical insight into the health of the manufacturing and industrial sectors, Bajaj Broking Research said.
On the global front, April 30 will see the release of the US ADP Nonfarm Employment Change and preliminary GDP (QoQ) data for Q1. These indicators are expected to influence global market sentiments and central bank outlooks, potentially keeping market volatility elevated at the start of May.
Last week, Indian equity benchmarks closed higher, supported by easing global trade tensions and progress in India-US trade agreements. Sensex and Nifty rose by about 0.80%, ending at 79,212.53 and 24,039.35, respectively.
The IT sector led the rally with a 6.56% weekly gain, while the Media index underperformed, slipping by 2.11%. Foreign Portfolio Investors (FPIs) remained strong net buyers, pumping in approximately Rs 17,800 cr into the cash segment, while Domestic Institutional Investors (DIIs) added around Rs 1,132 cr.
The stock market will remain closed on May 1 on account of Maharashtra Day.
Puneet Singhania, director at Master Trust Group, noted, "The Nifty 50's 0.79% rise marks its second consecutive weekly gain, with the index closing above the psychological 24,000 mark. Immediate support levels are at 23,800 and 23,500, with resistance seen at 24,360. A move beyond this could push the Nifty toward 24,700."