With major earnings from Infosys, HDFC Bank, and ICICI Bank already behind us, the Indian stock market enters a crucial week filled with fresh Q4 results from marquee companies like Tech Mahindra, Hindustan Unilever (HUL), Nestle India, LTIMindtree, and several others. Their performance and management commentary will likely drive stock-specific action and shape investor sentiment.
Q4 earnings in focus:
The upcoming week will see more than 100 companies declaring results, including names across FMCG, IT, and financial sectors. Tech Mahindra and Persistent Systems from the IT pack, HUL and Nestle from FMCG, and Cholamandalam Finance, Poonawalla Fincorp, and Bajaj Housing Finance from financials are among the key ones to watch. Investors will track growth trends, margin pressures, and future outlooks.
FIIs remain net buyers:
Foreign Institutional Investors (FIIs) poured in over ₹15,000 crore last week, supported by easing global uncertainties and a 90-day U.S. tariff pause (excluding China). If this buying sustains, it could help stabilize the market, though selective profit booking can’t be ruled out.
Global data to influence risk appetite:
The week ahead includes the U.S. Michigan Consumer Sentiment Index (April 25) and Q1 GDP data (April 30)—both critical for gauging recession fears. Additionally, China’s GDP and industrial production figures will shape sentiment across Asian markets. Strong global data may boost risk appetite; weak prints could dampen flows into emerging markets.
Macro headwinds and currency pressure:
Despite bullish flows, macro concerns linger. The rupee remains under pressure, hovering near record lows, while gold continues to shine as a safe-haven with expectations of hitting $3,500–$4,000 per ounce by year-end. Trade policy uncertainty, especially linked to U.S.–China tensions and Trump’s tariff stance, remains a risk.
Market outlook:
After initial volatility from last week’s earnings, the market is expected to take a stock-specific approach. Sectors like IT, FMCG, and mid-tier financials will remain in focus. Management commentary will be crucial in determining whether the March quarter marks a recovery or continued consolidation for India Inc.
