Dalal Street will closely watch developments in the US-Iran conflict, crude oil price movements, and the ongoing corporate earnings season for direction this week, analysts said.
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 monitorable, given their direct impact on crude oil prices and global risk sentiment,” Ajit Mishra, SVP, Research, Religare Broking Ltd, said. He also noted that the ceasefire between the US and Iran is set to end on April 22. Meanwhile, at home, attention will now turn to the Q4 FY26 earnings season. “Market participants will initially react to results from banking heavyweights such as HDFC Bank and ICICI Bank. Subsequently, several key companies, including HCL Technologies, Infosys, Tech Mahindra, Havells, IndusInd Bank, Shriram Finance, are scheduled to announce their results,” Mishra added. HDFC Bank on Saturday reported an 8.04 per cent rise in March quarter consolidated net profit at Rs 20,350.76 crore. However, it also warned of near-term risks from the West Asia conflict for some small-business borrowers.
ICICI Bank also posted its March quarter results on Saturday, reporting a 9.28 per cent rise in consolidated net profit at Rs 14,755 crore, helped by a sharp fall in provisions. Santosh Meena, Head of Research at Swastika Investmart Ltd, said, “The primary driver for the coming week will be the deluge of Q4 earnings reports, alongside a keen focus on US macro data and ongoing geopolitical shifts.” 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 trajectory of US-Iran negotiations, with greater emphasis on signs of a durable resolution 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 prices could provide a meaningful tailwind for equities and support the broader macro outlook,” Ponmudi R, CEO, Enrich Money, an online trading and wealth tech firm, said. Meanwhile, the Strait of Hormuz remains in focus after tensions escalated following the US and Israel attack on Iran on February 28. Iran had earlier restricted movement through the key oil route that carries a large share of global supplies. Although Tehran briefly announced reopening the waterway for commercial traffic on Friday, it later said on Saturday that it had closed it again, alleging that the US violated an understanding between the two sides.
