Indian equities enter the next trading week with sentiment largely shaped by evolving global macro signals and steady domestic undercurrents. In the US, the Federal Reserve maintained a cautious stance, signalling a data-dependent approach amid persistent inflation concerns, keeping global risk appetite measured.
Back home, India’s high-frequency indicators pointed to stable growth momentum, with resilient services activity and continued strength in core sectors supporting the macro backdrop.
Meanwhile, in China, authorities reiterated policy support for growth alongside efforts to stabilise the property sector, aiding broader Asian market sentiment despite lingering structural concerns.
For the week ahead, crude trajectory and Iran ceasefire developments remain the dominant swing factors with stabilisation of the rupee being a prerequisite for any durable return of the FII cohort.
Domestic equity markets would remain shut on Tuesday (31 March 2026) on account of Shri Mahavir Jayanti and on Friday on account of Good Friday (03 April 2026).
In India, the Industrial Production data for February 2026 would be announced on Monday (30 March 2026). The industrial production in India rose by 4.8% from the previous year in January of 2026, slowing from the upwardly revised, two-year high 8% increase in the previous month.
On Tuesday (31 March 2026), the Government Budget Value for the month of February would be announced. India’s fiscal deficit narrowed to INR 9.81 trillion in April–January 2025–26, down from INR 11.70 trillion a year earlier, reaching 63.0% of the government’s full-year target compared with 74.5% in the same period last year.
On Thursday (02 April 2026), the HSBC Manufacturing PMI Final for March 2026 would be made public. The HSBC India Manufacturing PMI fell to 53.8 in March 2026 from 56.9 in February, preliminary estimates showed. This marks the weakest expansion in factory activity since September 2021, as output growth slowed amid softer domestic demand and uncertainty from the Middle East conflict.
In China, the NBS Manufacturing PMI for March 2026 would be made public on Tuesday (31 March 2026). China’s official NBS Manufacturing PMI slipped to 49.0 in February 2026 from 49.3 in the previous month, marking the lowest print since October.
On Wednesday (01 April 2026), the RatingDog Manufacturing PMI for the month of March would be announced. The RatingDog China General Manufacturing PMI rose to 52.1 in February 2026 from 50.3 in January, the highest since December 2020 and marking a third straight month of factory expansion.
On Friday (10 April 2026), the Inflation Rate for March 2026 would made public. China’s annual inflation jumped to 1.3% in February 2026 from 0.2% in January, marking the highest print since January 2023.
In the United States, the Dallas Fed Manufacturing Index for March 2026 would be announced on Monday (30 March 2026).
On Tuesday (31 March 2026), the JOLTs Job Openings data for February 2026 would be released. Job openings in the US rose to 6.946 million in January of 2026, rebounding from the over-five-year low of 6.550 million in the previous month.
On Wednesday (01 April 2026), the Retail Sales for the month of February would be made public. The US retail sales inched lower by 0.2% from the previous month in January of 2026, pulling back from a stall in the last month of 2025.
The ISM Manufacturing PMI for March 2026 would also be announced on the same day. The ISM Manufacturing PMI slipped to 52.4 in February 2026 from 52.6 in January.
On Friday (03 April 2026), the Non Farm Payrolls data for March 2026 would be released. The US economy shed 92K jobs in February 2026, the most in four months, following a downwardly revised 126K rise in January.
The Unemployment Rate for March 2026 would also be made public on the same day. The US unemployment rate rose to 4.4% in February 2026, up from 4.3% in January, inching closer to November’s four-year high of 4.5%.
Lastly, the ISM Services PMI for March 2026 would also be announced on Friday. The ISM Services PMI for the US climbed to 56.1 in February 2026 from 53.8 in January, marking the fastest expansion in the sector since August 2022.