Nifty, Sensex: Q1 Earnings, Oil Key for Monday's Gains

Indian equity benchmarks are set to open Monday with a positive bias, extending last week's rally. Traders will track five major factors: the Q1 earnings season, crude oil prices, monsoon progress, foreign institutional investor flows, and global cues, according to ETMarkets.

The banking sector remains in focus. HDFC Bank, with an Alpha Score of 47 out of 100 (Mixed), is among the most tracked stocks. SBI and Axis Bank also feature on the trending list. In IT, Infosys (Alpha Score 57, Moderate) and Wipro (46, Mixed) will see action as the earnings season unfolds.

The Nifty's recent consolidation has historically set up strong gains, according to Edelweiss. Nifty consolidation historically sets up 18% next-year gains: Edelweiss. The monsoon's progress and oil price movements will be key for sectors like fertilizers and consumer goods.

The Q1 earnings season picks up this week with results from several index heavyweights.