Analysts of Bajaj Broking Research said, “The week from April 28 to May 2, 2025 will bring another series of important economic release, which can affect the dynamics and investor spirit of the global market. In India, the industrial production (YOY) data released on April 28 will be noted, which will give information about the strength of the country's manufacturing and industrial areas.” Senior VP, Research, Ajit Mishra, Senior VP of Railways Broking, said that the small week from the upcoming holidays is also a symbol of the beginning of a new month, making the monthly auto sales data a major area of focus for market participants. On the macroiconomic front, investors will closely monitor the Industrial Production Index (IIP) data and HSBC manufacturing PMI final data. Meanwhile, geopolitical developments between India and Pakistan will remain on the radar.
On the corporate income front, many major companies – including BPCL, IOC, Kotak Mahindra Bank, SBI, Bajaj Finance, TVS Motor and UltraTech Cement – are ready to release their quarterly results. Globally, updates to tariffs and business will also be closely monitored. Mishra said, “In the current scenario, it is appropriate to maintain a positive but alert approach, giving priority to the hedge position in the index. Stock-specific opportunity is likely to remain abundant both long and short. Therefore, it should be focused on identifying stock containing favorable risk-evil setups.” The Indian stock markets continued their victory for the second consecutive week, although the profits on Friday limited the lead amid growing geopolitical tension between India and Pakistan after the Pahalgam terror attack.
The Nifty 50 and BSE Sensex gained 0.80% during the week, which closed at 24,039.35 and 79,212.53 respectively. Positive pace was mainly supported by progressing in bilateral trade agreement between India and the United States, as well as reducing concerns over the U.S-China trade disputes, improving investors' perception. Additionally, the stronger quarterly results contributed to moving upwards than the major banking heads.
On the regional basis, the IT index emerged as a top demonstrator with a weekly gains of 6.56%, while the media region performed poorly by 2.11%. Puneet Singhania, director of the Master Trust Group, said that RSI's stay above the 14-day SMA indicates constant strength. Tatkal support levels are placed at 23800 and 23500 which are also aligned with 21dema. “Upwards, resistance is seen at 24360, and the way to 24700 can open up. Potential market is advised to be cautious with volatility,” Singhania said. Foreign portfolio investors (FPI) became aggressive pure buyers, especially in the financial sector, attracted to favorable values.
