Stock Market Outlook: Fed Decision, Earnings, Oil Prices To Drive Dalal Street This Week

A mix of global and domestic factors, including the upcoming US Federal Reserve policy decision, ongoing earnings season, geopolitical tensions and crude oil price movements, is expected to guide the Indian stock market in the coming week after benchmarks ended lower.

Indian equity indices BSE Sensex and Nifty 50 snapped a two-week gaining streak, weighed down by rising geopolitical concerns and cautious commentary from major IT firms.

Despite an initial uptick, markets remained under pressure amid sustained selling.

The Nifty declined 1.87 per cent to close at 23,897.95, while the Sensex dropped 2.33 per cent to settle at 76,664.21.

Analysts said the Nifty faces immediate resistance at 24,000, followed by 24,150 and 24,350. On the downside, support is seen at 23,800 and 23,700, with a break below 23,500 potentially triggering further weakness.

Investors will closely track the outcome of the Federal Open Market Committee meeting scheduled for April 28–29.

Markets widely expect the US Federal Reserve to keep interest rates unchanged for a third straight meeting after pausing rate action earlier this year.

Domestically, the fourth-quarter earnings season will gather pace. Over 200 companies are set to announce results for the quarter ended March 31, 2026.

Corporate commentary will be closely watched for signals on demand outlook, margin pressures and sectoral trends. This comes after subdued guidance from IT majors.

Geopolitical developments, especially tensions involving the United States and Iran, will remain a key monitorable.

Fresh remarks by US President Donald Trump have added to uncertainty, keeping global markets cautious.

Crude oil prices also remain a crucial factor, with volatility driven by supply concerns and expectations around renewed US-Iran engagement.

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