Market Outlook: Q4 Results, Auto Sales And Global Cues Key Triggers For Next Week

(MENAFN- IANS) Mumbai, April 27 (IANS) The market outlook for next week will be influenced by several domestic and global cues such as Q4 results for FY25, IIP & FII data and economic data from the US.

Next week, major companies like Adani Green, Adani Total Gas, KPIT Tech, TVS Motors, Ambuja Cements, Bajaj Finserv, Bajaj Finance, BPCL, Adani Power, JSW Infra and Vedanta will announce their March quarter results.

In India, attention will be on the Industrial Production (YoY) data for March, scheduled for release on April 28, which will offer insights into the strength of the country's manufacturing and industrial sectors, according to Bajaj Broking Research.

In the United States, April 30 will be packed with significant releases, including the ADP Nonfarm Employment Change for April and the preliminary GDP data (QoQ) for the first quarter, both of which are critical indicators for assessing the labour market and overall economic growth.

The Broking firm further said, "together, these releases are expected to drive market movements, influence central bank outlooks, and keep volatility elevated into the start of May."

Last week, the Indian stock market closed with gains. During this period, both Sensex and Nifty rose by about 0.80 per cent and closed at 79,212.53 and 24,039.35, respectively.

The positive momentum was largely supported by progress in the bilateral trade agreement between India and the United States, alongside easing concerns over the US-China trade dispute, both of which lifted investor sentiment.

On a sectoral basis, the IT index emerged as the top performer with a weekly gain of 6.56 per cent, while the Media sector underperformed, declining by 2.11 per cent.

Foreign Portfolio Investors (FPIs) turned aggressive net buyers, attracted by favourable valuations, particularly in the financial space. FPIs infused approximately Rs 17,800 crore into the cash segment during the week, while Domestic Institutional Investors (DIIs) added around Rs 1,132 crore.

The stock market will be closed on May 1 on the occasion of Maharashtra Day.

Puneet Singhania, Director at Master Trust Group, said, "The Nifty 50 saw a 0.79 per cent rise this week, marking its second consecutive gain, signalling a positive market trend. The index closed above the key psychological level of 24,000, a significant technical barrier."

"Immediate support levels are placed at 23,800 and 23500, which also align with the 21DEMA. On the upside, resistance is seen at 24,360, and a move above this may open the path toward 24,700," he added.

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