Domestic markets are likely to open on a positive note on Monday despite global uncertainties and underwhelming performance by some of India’s top companies, including Reliance Industries.

Gift Nifty at 24,130 signals a gap-up opening of about 100 points. Analysts expect the market to remain volatile and may witness selling pressure.

Global developments continued to dominate market direction, with ongoing uncertainty around the West Asia crisis and concerns over supply disruptions keeping crude oil prices elevated. “Brent crude surged nearly 8–10% during the week, crossing the $105 per barrel mark, thereby intensifying concerns around inflation, a widening import bill, and potential pressure on India’s fiscal balance,” said Ajit Mishra, SVP, Research, Religare Broking Ltd.

Echoing similar concerns, Ponmudi R, CEO of Enrich Money, said Indian equity markets are expected to remain cautious and volatile amid persistent geopolitical uncertainty. Ongoing ambiguity around US–Iran tensions and broader developments in West Asia continues to weigh on risk sentiment, particularly given concerns over potential supply disruptions in the Strait of Hormuz. “Brent crude remains elevated, trading in the $105–108 per barrel range, and continues to act as a key overhang on market sentiment.

Foreign investor flows remain under pressure, with sustained outflows reflecting global risk aversion, elevated bond yields and currency-related concerns,” he cautioned, adding that the Q4 earnings season is driving stock-specific movements, with weakness in the IT sector and select heavyweight stocks weighing on sentiment.

According to V K Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, “The big uncertainty surrounding the West Asia conflict and the consequent gyrations in crude prices had its impact on FPI flows also. FPIs turned buyers on three days in the third week of April on strengthening of the rupee and news of decline in crude prices. But soon this trend was reversed in the fourth week when FPIs turned sellers again.

Total FPI selling through 24 April through the cash market stood at ₹46,298 crore. FPIs invested ₹3,391 crore through the primary market during this period. The total FPI selling for 2026 so far stands at ₹1,87,439 crore.

“An important trend in FPI activity is that they have been buying selectively in many mid and small caps even while selling in large caps across sectors. The global trend of buying in AI stocks which was dominant last year is continuing this year too. Consequently, markets like Japan, South Korea and Taiwan are attracting huge inflows. This was evident in April FPI activity too,” he added.

Published on April 27, 2026