A combination of global tensions, corporate earnings and key economic signals are set to shape the stock market action in the coming week, which will be shorter due to the market holiday on Friday to mark Maharashtra Day.Developments in the Middle East, particularly around the Strait of Hormuz, remain at the center of investor attention, with their impact spilling over into crude oil prices and broader market sentiment. The ongoing situation has caused oil prices to rise, increasing inflation fears and creating uncertainty in the markets.“Looking ahead, markets are expected to remain volatile and largely news-driven, with the main focus on developments in negotiations between the US and Iran, crude oil price trends, and broader global signals.
Stability or decline in oil prices could help ease macro concerns and support risk appetite, while any escalation or prolonged disruption in the Strait of Hormuz could lead to renewed volatility and profit-taking.Analysts noted that the fourth-quarter earnings season will drive stock activity, as companies publish their results and forecasts.
Investors are expected to closely evaluate earnings performance, future direction and sector trends to reassess valuations.“The ongoing escalation in West Asia, particularly around the Strait of Hormuz, and the breakdown in negotiations between the US and Iran, have led to a significant increase in event risk premiums in global markets,” said Hariprasad K, research analyst and founder of Livelong Wealth. “This uncertainty is directly feeding into crude oil prices, with Brent crude hovering near $107 per barrel.”“For India, this remains the most important macro variable, as higher oil prices not only pressure inflation and the rupee but also impact corporate profitability across sectors.”The week also brings a slew of corporate earnings. UltraTech Cement, Coal India and Varun Beverages are scheduled to announce their results on April 27, followed by Maruti Suzuki on April 28. Bajaj Finance and Adani Power will announce their earnings on April 29, while Thursday will see multiple announcements including Hindustan Unilever, Adani Ports, Adani Enterprises and Bajaj Finserv.Among the latest earnings, Reliance Industries Ltd reported a 12.5% decline in its March quarter net profit on Friday, with the global energy crisis weighing on its oil-to-chemicals business, even as the telecom and retail sectors provided some support.In addition to corporate results, investors will track key local and global economic data. Industrial production figures for March 2026 are scheduled to be released on April 28, while foreign exchange reserves data will be released on May 1.
Globally, the policy decision made by the US Federal Reserve on April 29, along with the advance estimate of US Q1 GDP and ISM manufacturing PMI, are expected to influence the market direction.“Domestically, industrial production data for March 2026 will be released on April 28, while foreign exchange reserves will be released on May 1. Globally, the US Fed’s policy decision will be decided on April 29, along with the advance estimate of US Q1 GDP and ISM manufacturing PMI,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.He added that the geopolitical situation in the Middle East remains the main swing factor for the markets, especially developments around the Strait of Hormuz and tensions between the United States and Iran, which are driving volatility in crude oil and impacting inflation and margin concerns.Meanwhile, Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd, said: “Global developments continued to dominate the market direction, with continued uncertainty over the West Asia crisis and concerns over supply disruptions pushing up crude oil prices.”Markets ended last week lower, reflecting the cautious mood. The BSE Sensex fell by 1,829.33 points, or 2.33%, while the NSE Nifty fell by 455.6 points, or 1.87%.
