(MENAFN- IANS) Mumbai, July 20 (IANS) The upcoming week is expected to be crucial for Indian stock markets, with a mix of domestic and global factors likely to influence investor sentiment including key Q1 earnings, PMI data, infrastructure output figures, and developments around the India-US trade deal.

Between July 21 and 25, several major companies -- including Dr. Reddy's Laboratories, Bajaj Finance, Nestle India, and Cipla -- will announce their financial results for the first quarter (Q1) of FY26.

The market will also react to the earnings of heavyweights like Reliance Industries, HDFC Bank, and ICICI Bank.

On the macroeconomic front, India will release data on core infrastructure output as well as Manufacturing and Services PMI. These indicators are critical to assessing the overall health of the economy.

Globally, any fresh updates on the India-US trade negotiations, fluctuations in crude oil prices, and upcoming inflation and interest rate data from major economies could sway market sentiment.

Last week, benchmark indices witnessed volatility. The Sensex dropped 742 points or 0.90 per cent to close at 81,757, while the Nifty slipped 181 points or 0.72 per cent to settle at 24,968.

In contrast to large-cap weakness, mid- and small-cap stocks outperformed. The Nifty Midcap 100 gained 462 points or 0.79 per cent to 59,104, while the Nifty Smallcap 100 added 196 points or 1.05 per cent to end at 18,959.

Among sectoral indices, Auto, PSU Banks, Pharma, FMCG, Metal, Realty, Media, Energy, and Commodities ended in the green. However, IT, Financial Services, and Private Banks saw declines.

Ajit Mishra of Religare Broking said, "Nifty closed below the key psychological mark of 25,000, indicating persistent caution in the market. A break below the immediate support level of 24,900 could open the door to further downside, potentially dragging the index towards the 24,450–24,700 range in the coming sessions."

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