Equity market this week: Earnings, US Fed rate decision to dictate trends

“This week is going to be critical for markets for multiple reasons. We have two important events viz the US Fed meet and a special MPC monetary policy review meet scheduled during the week. Besides, important high-frequency data i.e. auto sales will also be in focus,” Ajit Mishra, VP – Research, Religare Broking Ltd, said.

As the earnings season would gain pace, prominent names like Bharti Airtel, Larsen & Toubro, Tata Steel, Sun Pharma, Hero MotoCorp, HDFC, Cipla and Titan will unveil their numbers along with several others, he added.

Besides, auto sales numbers and macroeconomic data to be announced during the week would also influence trading in the equity market.

Strong traction in ongoing domestic earnings, FIIs turning buyers and positive domestic cues can lead the Nifty to reach 18,000/18,200 levels over the next few days, Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, said.

Equity benchmarks ended higher on Friday helped by buying in index major Reliance Industries along with fresh foreign fund inflows.

Extending its previous day’s rally, the 30-share BSE benchmark climbed 203.01 points or 0.34 per cent to settle at 59,959.85. During the day, it jumped 376.33 points or 0.62 per cent to 60,133.17.

On similar lines, the broader NSE Nifty advanced 49.85 points or 0.28 per cent to end at 17,786.80 .

In the Sensex pack, Maruti, Reliance Industries, NTPC, Power Grid, Mahindra & Mahindra, Bajaj Finserv, Titan and Kotak Mahindra Bank were the major winners.

Foreign Institutional Investors (FIIs) purchased shares worth ₹1,568.75 crore on Friday, as per exchange data.

-With inputs from PTI