Analysts said Dalal Street will closely monitor developments in the US-Iran conflict, crude oil price movements, and the ongoing corporate earnings season to determine the trend this week.
They added that foreign investor activity will also remain an important factor influencing trading trends. “Geopolitical developments in the US-Iran conflict will remain a key watchable element, given their direct impact on crude oil prices and global risk sentiment,” said Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd. He also noted that the ceasefire between the United States and Iran is set to expire on April 22. Meanwhile, at home, attention will now turn to the fiscal 2026 Q4 earnings season. “Market participants will initially react to the results of heavyweight banks like HDFC Bank and ICICI Bank. Subsequently, several key companies, including HCL Technologies, Infosys, Tech Mahindra, Havells, IndusInd Bank and Sriram Finance, are scheduled to announce their results,” Mishra added. HDFC Bank on Saturday reported an 8.04 per cent rise in consolidated net profit for the March quarter to Rs 20,350.76 crore. However, the report also warned of near-term risks of conflict in West Asia for some small business borrowers.
ICICI Bank also announced its March quarter results on Saturday, reporting a 9.28 per cent rise in consolidated net profit to Rs 14,755 crore, supported by a sharp decline in provisions. “The main driver for next week will be the deluge of Q4 earnings reports, coupled with a keen focus on US macro data and ongoing geopolitical shifts,” said Santosh Meena, Head of Research, Swastika Investmart Ltd. In the previous week, markets ended higher, with the BSE Sensex rising 943.29 points, or 1.21%, and the NSE Nifty gaining 302.95 points, or 1.25%. “Investor attention will be focused on the course of negotiations between the US and Iran, with more focus on signs of a permanent solution rather than short-term headlines, given the implications for global risk assets, capital flows and crude oil prices. “Continued stability or further moderation in crude oil prices could provide a beneficial tailwind for stocks and support the broader macro outlook,” said Ponmudi R, CEO of Enrich Money, an online trading and wealth technology company. Meanwhile, the Strait of Hormuz remains in focus after tensions rose following the attack on Iran on February 28 by the United States and Israel. Iran had previously restricted movement through the main oil route, which carries a large share of global supplies. Although Tehran briefly announced the reopening of the waterway to commercial traffic on Friday, it later said on Saturday that it had closed it again, claiming that the United States had violated the understanding between the two sides.