Market Analysts Expect Continued Uptrend in Nifty, Positive Sentiment for Coming Week amid Earnings Releases and FOMC Meeting; Gold and Silver Appeal Rises.

The positive momentum in the stock market can be attributed to several factors, such as strong corporate earnings, favorable global cues, and optimism surrounding the economic recovery. The robust performance of the US market also provided a boost to investor sentiment. 
 
Corporate earnings releases are expected to dominate the upcoming week, with companies reporting their quarterly results. These earnings reports will provide valuable insights into the financial health of businesses and may influence market trends. Additionally, investors will closely watch the FOMC meeting scheduled for April 30 to May 1 for any policy announcements that could impact markets. 
 
Despite potential challenges on the horizon in May, analysts remain optimistic about Asian markets, maintaining their bullish sentiment as April comes to a close. The overall outlook appears positive due to strong corporate earnings catalysts and encouraging guidance from US big tech companies. 
 
Rajesh Palviya, SVP Research (Head Technical & Derivatives) at Axis Securities Ltd., noted that Nifty continues to remain in an uptrend in the medium term. He expects Nifty to trade within a range of 22900–22000 with a mixed bias for the week ahead. If Nifty surpasses and sustains above 22600 levels, it could trigger buying interest and push the index towards higher levels around 22800–22900. 
 
The anticipated rate cuts by the Federal Reserve in 2024 are likely to impact real yields and make gold and silver more attractive as non-yielding assets. Global uncertainties such as geopolitical tensions and economic instabilities further enhance gold and silver's appeal as safe-haven assets, potentially influencing market dynamics. 
 
In last week's trading sessions, benchmark indices witnessed continued positive momentum, with Nifty closing 1.23 percent higher and Sensex gaining 642 points. Various sectoral indices showed buying interest, with the PSU Bank index outperforming by registering a gain of 6.5 percent. 
 
While markets experienced significant gains throughout the week, profit booking was observed at higher levels on Friday, indicating some caution among investors going forward. 
 
Overall, market experts anticipate a positive trend continuing into next week, driven by corporate earnings releases and global cues favoring bullish sentiments across Asian markets amid ongoing uncertainties worldwide.