Stock markets are expected to closely monitor developments in the ongoing US-Iran conflict, fluctuations in crude oil prices, and quarterly earnings reports from key companies this week, analysts indicate.
Additionally, the trading activities of foreign investors are anticipated to influence market movements, according to industry experts. Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd, stated, “Geopolitical developments in the US-Iran conflict will remain a key monitorable due to their direct impact on crude oil prices and global risk sentiment.” The ceasefire between the US and Iran is set to expire on April 22.
On the domestic front, attention will shift to the ongoing Q4 FY26 earnings season. Market participants are expected to react to results from major banking institutions such as HDFC Bank and ICICI Bank. Other notable companies scheduled to announce their earnings include HCL Technologies, Infosys, Tech Mahindra, Havells, IndusInd Bank, and Shriram Finance.
HDFC Bank reported an 8.04% increase in its consolidated net profit for the March quarter, reaching ₹20,350.76 crore, while noting potential near-term risks stemming from the West Asia conflict for small-business borrowers. Concurrently, ICICI Bank showed a 9.28% rise in consolidated net profit to ₹14,755 crore for the March quarter, aided by a nearly 90% reduction in provisioning.
Santosh Meena, Head of Research at Swastika Investmart Ltd, remarked, “The primary driver for the coming week will be the influx of Q4 earnings reports, coupled with a focused analysis of US macro data and the ongoing geopolitical changes.”
Last week, the BSE benchmark Sensex rose by 943.29 points, or 1.21%, while the NSE Nifty increased by 302.95 points, or 1.25%. Investor focus will remain on the progression of US-Iran negotiations, with a heightened emphasis on signs of a stable resolution rather than short-term developments, as these factors influence global risk assets, capital flows, and crude oil prices.
Ponmudi R, CEO of Enrich Money, an online trading and wealth management firm, noted that “continued stability or further moderation in crude prices could provide a meaningful tailwind for equities and support the broader macro outlook.”
Tensions escalated after the US and Israel conducted an attack on Iran on February 28, leading Tehran to significantly restrict traffic through the Strait of Hormuz, which is vital for the transportation of one-fifth of global oil supplies. Following Tehran’s announcement on Friday that it had reopened the waterway for commercial traffic, several vessels attempted to cross. However, on Saturday, Tehran reinstated the closure, citing US violations of a previous understanding reached between the two parties.
Published on April 19, 2026.
