The geopolitical situation in West Asia, particularly developments around the Strait of Hormuz, alongside Q4 earnings from corporates and crude oil prices, are anticipated to influence stock market sentiments in the upcoming holiday-shortened week, analysts noted.
Markets will remain closed on Friday for Maharashtra Day.
Looking ahead, Ponmudi R, CEO of Enrich Money, an online trading and wealth technology firm, stated that markets are expected to be highly news-driven and volatile, focusing on US-Iran negotiations, trends in crude oil prices, and broader global cues. He emphasized that stability or a decline in oil prices could relieve macroeconomic concerns and bolster risk sentiment, whereas any escalation or prolonged disruption in the Strait of Hormuz might lead to renewed volatility and profit booking.
The ongoing Q4 earnings season is expected to be a crucial catalyst for stock-specific price movements, with market participants closely monitoring reported figures, forward guidance, and sectoral outlooks to reassess earnings visibility and valuations across different segments.
The conflict in the Strait of Hormuz has been keeping crude oil prices elevated, intensifying inflation concerns. Investors are also closely watching the upcoming interest rate decision from the US Federal Reserve.
Hariprasad K, Research Analyst and Founder of Livelong Wealth, observed that the escalating situation in West Asia, particularly around the Strait of Hormuz, has introduced a significant event risk premium into global markets. This uncertainty directly impacts crude oil prices, with Brent crude hovering around USD 107 per barrel. For India, this remains a critical macroeconomic variable, as high oil prices pressure inflation, depreciate the rupee, and affect corporate profitability across sectors. He noted that the week is heavily loaded with earnings reports, which will drive stock-specific activity.
Reliance Industries Limited reported a 12.5 percent decline in net profit for March quarter, as the global energy crisis impacted its core oil-to-chemicals operations, counteracting gains from its consumer-facing telecom and retail divisions.
Domestically, data on March 2026 Industrial Production (IIP) will be released on April 28, while foreign exchange reserves will come out on May 1. Internationally, the US Federal Reserve’s policy decision on April 29, along with the advanced estimate for US Q1 GDP and ISM Manufacturing PMI, will set the market tone, according to Santosh Meena, Head of Research at Swastika Investmart Ltd.
Additionally, the geopolitical climate in West Asia, especially around the Strait of Hormuz and tensions between the US and Iran, remains the most significant macroeconomic factor, driving volatility in crude oil prices and influencing inflation and margin concerns, he added.
Key corporate earnings results are expected from UltraTech Cement, Coal India, Varun Beverages on April 27, Maruti Suzuki on April 28, and Bajaj Finance and Adani Power on April 29, with a packed Thursday featuring Hindustan Unilever, Adani Ports, Adani Enterprises, and Bajaj Finserv, Meena noted.
Last week, the BSE benchmark Sensex fell by 1,829.33 points or 2.33 percent, while the NSE Nifty decreased by 455.6 points or 1.87 percent.
Ajit Mishra, SVP of Research at Religare Broking Ltd, commented that global developments continue to dictate market direction, with ongoing uncertainty surrounding the West Asia crisis and concerns over supply disruptions sustaining high crude oil prices.
Published on April 26, 2026.
