Domestic markets are expected to open positively on Monday, despite global uncertainties and mixed earnings reports from some of India’s largest companies, including Reliance Industries. The Gift Nifty at 24,130 indicates a gap-up opening of approximately 100 points. Analysts foresee continued market volatility, with potential selling pressure.
Global events have remained influential on market dynamics, particularly the ongoing situation in West Asia, which has raised concerns regarding crude oil supply disruptions, leading to elevated oil prices. “Brent crude rose nearly 8–10% last week, surpassing the $105 per barrel mark, raising fears about inflation, a growing import bill, and possible strains on India’s fiscal health,” remarked Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd.
Ponmudi R, CEO of Enrich Money, noted that Indian equity markets are likely to exercise caution amid persistent geopolitical turbulence. The uncertainty surrounding US–Iran relations and broader issues in West Asia continue to affect risk sentiment, particularly with worries regarding supply disruptions in the Strait of Hormuz. He added, “Brent crude remains high, fluctuating between $105 and $108 per barrel, which significantly impacts market sentiment.”
Foreign portfolio investor (FPI) activity has been subdued, marked by continued outflows reflecting global risk aversion, high bond yields, and currency-related challenges. Ponmudi highlighted that the Q4 earnings season is influencing stock-specific movements, with weaknesses in the IT sector and select heavyweight stocks dampening overall market sentiment.
V K Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd, emphasized the impact of the West Asia conflict on FPI flows. “In the third week of April, FPIs turned net buyers on three days due to a strengthening rupee and a decline in crude prices. However, this trend reversed in the fourth week as FPIs opted to sell,” he stated.
From April 24, total FPI selling in the cash market reached ₹46,298 crore, with an investment of ₹3,391 crore in the primary market during the same period. For 2026 overall, FPI selling has totaled ₹1,87,439 crore thus far.
Vijayakumar observed a notable trend in FPI behavior: while selling off large-cap stocks across various sectors, they have been selectively purchasing in mid and small-cap stocks. The global shift toward investments in AI stocks, which gained momentum last year, continues to influence this year’s trends, resulting in significant inflows into markets like Japan, South Korea, and Taiwan, as evidenced by April’s FPI activities.
Published on April 27, 2026.
