Sensex, Nifty Climb Amid Global Uncertainty; HDFC Bank Q4 Preview

Top Summary

What happened: Indian stock markets opened in the green, outperforming benchmarks, while Asian markets declined amid global uncertainty.
Why it matters: Market sentiment remains fragile, influenced by fluctuating oil prices, potential US-Iran peace talks, and domestic earnings reports.
What changes for people: Investors are closely watching stock-specific news, Q4 earnings, and global cues to make informed decisions.
Who is affected: Traders, investors, and companies listed on Indian stock exchanges are directly impacted by these market movements.

Indian Markets Open Strong Amidst Global Headwinds

Indian stock markets started Friday on a positive note, with smallcap and midcap stocks leading the gains. This contrasted with a decline in Asian stocks as investors remained cautious ahead of the weekend.

The positive sentiment in India is despite fragile global cues. There are rising hopes for US-Iran peace talks.

Global Market Overview

Asian stocks experienced a decline, with the MSCI Asia Pacific Index falling 0.4%, ending a three-day winning streak. Investors trimmed positions, awaiting clarity on a possible extension of the US-Iran ceasefire.

Wall Street indices continued their rally, notching fresh record closes for a second straight session. Brent crude slipped 1.3% to $98.14 a barrel after President Trump expressed optimism about a lasting ceasefire with Iran.

Japan's Topix fell 1.1%
Australia's S&P/ASX 200 fell 0.3%
Hong Kong's Hang Seng fell 0.8%
The Shanghai Composite fell 0.2%

Key Stock Movements

Several stocks witnessed significant movements on Friday:

Suzlon Energy jumped 5%, extending its five-day rally to nearly 18%. JM Financial remains bullish with a Buy rating.
Gujarat Gas shares surged 7% after Nomura's double upgrade to 'Buy'.
RVNL shares jumped 6% on a railway order worth Rs 967 crore.
Waaree Renewable shares rocketed 12% as Q4 revenue soared 131%, and profit was up 66%.
VST Industries shares surged 15% as Q4FY26 profit surged 120% to Rs 116 crore.
Angel One shares rose over 4% after Q4 net profit jumped 84% to Rs 320 crore.
HDFC Life Insurance shares tanked 4% on Q4 results.
Wipro shares plunged 4% after Q4 results.

HDFC Bank Q4 Preview

HDFC Bank is expected to report a steady Q4FY26 performance on Saturday, April 18, marking the start of the earnings season for banks. The bank is expected to post a PAT in the range of Rs 18,695 crore to Rs 19,366 crore.

This indicates 6–10% year-on-year growth and largely flat sequential performance. Investors are keenly watching for NIM (Net Interest Margin) pressure.

RBI Intervenes to Support the Rupee

The RBI has urged state-run oil refiners to curb spot dollar purchases and tap a special credit line for their foreign exchange needs. This measure aims to ease pressure on the rupee, which has fallen more than 3% this year.

The state-run refiners have been asked to access the credit line via the State Bank of India. The rupee strengthened by 0.4% to 92.80 against the dollar following the news.

Gold and Silver Imports Halted

Indian banks have halted gold and silver import orders from overseas suppliers, with tons of the metals stuck at customs. A formal government order authorising bullion imports has not yet been issued.

Gold prices in physical markets varied across major cities. For instance, in Delhi, 22-carat gold was priced at Rs 1,14,208/8 grams, while 24-carat gold was at Rs 1,24,584/8 grams.

Other Financial Updates

Vedanta plans to borrow $125 million and has appointed Axis Trustee as agent.

Bajaj Housing Finance has accepted bids worth 10 billion rupees for the reissue of 7.25% January 2029 bonds. The company will offer a yield of 7.59% on this issue.

What to Watch Next

Investors will be closely monitoring HDFC Bank's Q4 results on April 18. Further developments regarding US-Iran peace talks and their impact on global oil prices will also be crucial factors influencing market sentiment.