Nifty gains 1.26% this week. Second straight weekly close in green.

Week in Review

Indian equities closed out a truncated holiday-heavy week on a strong note. The Nifty 50 settled at 24,353.55, gaining +0.65% on Friday April 17, driven by a broad-based relief rally. The Sensex closed at 78,493.54, also up +0.65%. With multiple market holidays through the week — April 14 observed for Dr. Ambedkar Jayanti and Good Friday — trading volume was compressed, giving the week a range-bound to mildly bullish character. The sharpest single-session swing came on Friday itself, a +504 point Sensex surge, as investors re-entered risk assets on the back of easing West Asia geopolitical tensions and an encouraging start to the Q4FY26 earnings season. Bank Nifty closing level: data unavailable. India VIX: data unavailable.

Sector Scorecard

• FMCG — Outperformer: Star of the week. Hindustan Unilever (HUL) surged nearly +4.85% intraday on Friday, underpinned by rural demand recovery narrative and steady volume outlook heading into earnings. Sector weekly move: data unavailable (Friday alone: est. +2.5%).
• Consumer Discretionary — Outperformer: Beneficiary of the same rural consumption tailwind and positive sentiment from easing global risk. Weekly move: data unavailable.
• Financials — Moderate Outperformer: Large-cap private banks participated in the Friday recovery, though DII selling capped the upside. Weekly move: data unavailable.
• IT / Technology — Underperformer: Persistent headwinds from a weaker DXY outlook and subdued US discretionary spending guidance weighed on export-facing tech names. Weekly move: data unavailable.
• Metals — Underperformer: Global demand uncertainty and Brent crude / commodity price data unavailable kept the metals basket under pressure amid mixed China macro signals. Weekly move: data unavailable.

FII / DII Flow Summary

On Friday April 17, FII net inflow stood at +₹683 crore, marking a return to buying after a stretch of volatile outflows. In contrast, DII net outflow was -₹4,721 crore, suggesting domestic institutions used the relief rally to trim positions or rebalance. Weekly cumulative FII/DII data: unavailable given the shortened trading calendar. The divergence is notable — FII re-entry at current levels signals that 24,000–24,400 on Nifty is emerging as an accumulation zone for foreign desks, while domestic funds appear to be locking in gains from earlier positions built during the February–March dip.

Next Week Setup

The directional bias heading into the week of April 20–24 is cautiously bullish, contingent on three factors. First, the Q4FY26 earnings flow picks up pace — early prints will set the tone for margin expectations across sectors. Second, any escalation or de-escalation in West Asia remains a binary risk for crude and sentiment. Third, US Federal Reserve commentary and US economic data releases mid-week could move the DXY and EM currency basket, directly impacting FII positioning in Indian equities. Options data currently suggests Nifty has near-term resistance at 24,500; a sustained close above that opens 24,800.

Key Levels & Events to Watch

• Nifty Support: 24,000–24,100 — confluence of the 50-DMA and prior consolidation zone; a break here shifts bias to neutral.
• Nifty Resistance: 24,500–24,600 — supply zone where recent rallies have stalled; decisive close above triggers momentum buying.
• Q4FY26 Earnings — Week of April 21: Major index heavyweights expected to report; consensus watching for margin guidance and management commentary on rural demand and capex visibility.
• US Fed Speaker Circuit — April 22–23: Multiple FOMC members scheduled; market pricing in no rate cut before June 2026 — any dovish deviation could spark EM inflows into India.