Market outlook: Earnings, Fed rate decision major factors to watch out for

The ongoing quarterly earnings season, the Reserve Bank's special meeting of its rate-setting committee and the US Fed interest rate decision are the major events that would dictate trends in the equity market this week, analysts said. Besides, auto sales numbers and macroeconomic data to be announced during the week would also influence trading in the equity market. Purchasing Managers' Index (PMI) data for the manufacturing sector would be announced on Tuesday, while the services sector numbers are scheduled to come on Thursday. "FOMC (Federal Open Market Committee) meeting, RBI MPC meeting, auto sales numbers and Q2 earnings will drive the market this week. The market will have an eye on the unscheduled RBI MPC meeting. We are heading toward the last batch of Q2 earnings, which will lead to stock-specific movement. October auto sales numbers will be important because they will tell us about festival demand," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. T

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