Investors are set to closely track a combination of domestic and global cues this week, with corporate quarterly earnings, foreign institutional investor (FII) activity, and potential tariff-related developments from the US expected to steer equity market sentiment, analysts said.
According to experts, stock-specific action driven by fourth-quarter and annual results for FY25 will continue to dominate, while broader market moves will hinge on FII trading patterns, movement in global crude oil prices, rupee-dollar fluctuations, and cues from international markets.
“This week, all eyes will be on the earnings reports of companies like HCL Technologies, Axis Bank, Hindustan Unilever, and Maruti. Globally, any updates related to tariffs and their potential impact on world markets will remain in focus,” Ajit Mishra, SVP – Research, Religare Broking Ltd told PTI.
Infosys, HDFC, ICICI results to influence sentiment
The market will also react to quarterly results already declared by key companies. Infosys, India’s second-largest IT firm, will remain in focus after reporting an 11.7 per cent drop in consolidated net profit to Rs 7,033 crore for the March quarter, largely due to employee compensation and recent acquisitions.
On the banking front, HDFC Bank posted a 7 per cent rise in consolidated net profit to Rs 18,835 crore for the March quarter, while ICICI Bank reported a 15.7 per cent jump in consolidated net profit to Rs 13,502 crore. However, HDFC flagged concerns over pricing pressure in the home and corporate loan segments, which may impact lending growth going forward.
FII inflows, global trends offer support
Market experts are also watching foreign fund movements closely. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted a “distinct reversal” in FII activity over the last three trading sessions ending April 17, with net inflows of Rs 14,670 crore into the cash market.
“This reversal has been driven by the weakening dollar index and expectations of further dollar softness, which are encouraging FIIs to shift from the US to emerging markets like India,” Vijayakumar said. He added that India’s relatively strong growth outlook—projected at 6 per cent for FY26 even amid global uncertainty—positions the country for potential market outperformance.
In the previous, holiday-shortened week, the benchmark BSE Sensex surged 3,395.94 points or 4.51 per cent, while the NSE Nifty rallied 1,023.1 points or 4.48 per cent, reflecting strong investor optimism.
Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services, believes the gradual uptrend could continue, supported by factors like easing domestic inflation, a promising monsoon forecast by the IMD, and sustained FII interest.
However, analysts cautioned that any negative surprise on the US tariff front could inject volatility into global markets, making it a key risk factor for investors to monitor this week.
According to experts, stock-specific action driven by fourth-quarter and annual results for FY25 will continue to dominate, while broader market moves will hinge on FII trading patterns, movement in global crude oil prices, rupee-dollar fluctuations, and cues from international markets.
“This week, all eyes will be on the earnings reports of companies like HCL Technologies, Axis Bank, Hindustan Unilever, and Maruti. Globally, any updates related to tariffs and their potential impact on world markets will remain in focus,” Ajit Mishra, SVP – Research, Religare Broking Ltd told PTI.
Infosys, HDFC, ICICI results to influence sentiment
The market will also react to quarterly results already declared by key companies. Infosys, India’s second-largest IT firm, will remain in focus after reporting an 11.7 per cent drop in consolidated net profit to Rs 7,033 crore for the March quarter, largely due to employee compensation and recent acquisitions.
On the banking front, HDFC Bank posted a 7 per cent rise in consolidated net profit to Rs 18,835 crore for the March quarter, while ICICI Bank reported a 15.7 per cent jump in consolidated net profit to Rs 13,502 crore. However, HDFC flagged concerns over pricing pressure in the home and corporate loan segments, which may impact lending growth going forward.
FII inflows, global trends offer support
Market experts are also watching foreign fund movements closely. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted a “distinct reversal” in FII activity over the last three trading sessions ending April 17, with net inflows of Rs 14,670 crore into the cash market.
“This reversal has been driven by the weakening dollar index and expectations of further dollar softness, which are encouraging FIIs to shift from the US to emerging markets like India,” Vijayakumar said. He added that India’s relatively strong growth outlook—projected at 6 per cent for FY26 even amid global uncertainty—positions the country for potential market outperformance.
In the previous, holiday-shortened week, the benchmark BSE Sensex surged 3,395.94 points or 4.51 per cent, while the NSE Nifty rallied 1,023.1 points or 4.48 per cent, reflecting strong investor optimism.
Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services, believes the gradual uptrend could continue, supported by factors like easing domestic inflation, a promising monsoon forecast by the IMD, and sustained FII interest.
However, analysts cautioned that any negative surprise on the US tariff front could inject volatility into global markets, making it a key risk factor for investors to monitor this week.
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