Stock market: US-Iran talks, Q4 earnings and oil prices in focus for next week

Indian equities rebounded sharply after six weeks of losses, with Nifty 50 and BSE Sensex gaining nearly 6%. Analysts expect cautious trading ahead, driven by global geopolitical tensions, Q4 earnings, and currency and crude oil movements

Mumbai: After staging a sharp rebound following six straight weeks of decline, the Indian stock market is heading into the new week with cautious optimism. While hopes of easing geopolitical tensions and a stable domestic macroeconomic backdrop lifted investor sentiment, global cues, corporate earnings, and currency movements are expected to dictate the market’s direction in the coming days.

In the previous week, both the Indian equity indices witnessed a strong recovery, with benchmark indices surging nearly 6 per cent to close near their weekly highs. The Nifty settled at 24,050.60, while the Sensex ended at 77,550.25, as investors cheered positive global developments and steady domestic fundamentals.

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Commenting on Nifty technical outlook, experts said that a decisive break below the crucial 24,000 level on the Nifty would not only negate the recent breakout but could also trigger a broader shift back to a sell-on-rise market structure. “The key structural factor this week is the preponed weekly expiry to Monday (April 13) due to the market holiday on April 14,” an analyst stated.

Going into the next week, global geopolitical developments will remain a key monitorable. Reports of potential de-escalation between the United States and Iran had initially lifted sentiment, although uncertainty persists after talks failed to yield a concrete agreement.

Another major driver will be the ongoing Q4 earnings season. More than 50 companies are set to announce their results for the quarter ended March 31.

Crude oil prices will also play a crucial role in shaping market sentiment. Oil futures recorded their sharpest weekly decline since 2022, as traders factored in the possibility of a temporary ceasefire and improved supply outlook.

Analysts believe that as long as global cues remain supportive and domestic macros stay resilient, the market could sustain its upward bias, although investors are likely to remain cautious amid lingering geopolitical risks.