Top 6 Market Drivers in Busy Week Ahead: RBI, FOMC Minutes, Q2 Earnings & More

By Malvika Gurung

Investing.com -- The domestic market closed the (past) holiday-truncated week with decent gains for the first time in four weeks. The equity benchmark indices advanced over 1% each, with Nifty50 surging 1.29% and Sensex rising 1.13% last week.

Broader market indices outperformed their peers in the week, with NIFTY Midcap 100 and NIFTY Smallcap 100 jumping nearly 3%.

The week starting Oct 10 is lined with multiple stock-specific and macroeconomic events, which is likely to keep the market volatile.

Here are some key triggers that will influence trading on Dalal Street this week.

Macroeconomic Data

Among important macro data to be released this week are the CPI inflation reading for September, industrial production and manufacturing output figures for August on Oct 12, WPI inflation for Sept, RBI’s MPC meeting minutes and Trade balance data on Oct 14.

Global Economic Data

The US FOMC minutes , along with PPI for Sept and OPEC monthly report will release on Oct 12, followed by I nitial jobless claims and CPI inflation for Sept the next day.

Corporate Earnings

Market heavyweights like TCS (NS: TCS ), Infosys (NS: INFY ), HDFC Bank (NS: HDBK ) and Bajaj Auto (NS: BAJA ), along with key companies like Delta Corp (NS: DELT ), Avenue Supermarts (NS: AVEU ) and Wipro (NS: WIPR ) will release their Q2 FY23 earnings, starting Monday.

Read Also: Market Mover Alert: Key Corporate Earnings Ahead - TCS, HDFC Bank, Infosys & More

INR Movements

The Indian rupee surpassed the 8 mark for the first time last week and closed at 82.33/$1, depreciating around 100 paise amid recession fears led by the Fed’s aggressive monetary tightening.

Oil Prices

Crude oil prices jumped last week after OPEC+ approved tightening global crude supply even further, marking its deepest cuts since 2020 at its meeting on Oct 5, slashing supply in an already tight market.

Russia-Ukraine Crisis

A huge explosion on the Crimea bridge, an important supply route for the Russian military, is likely to re-ignite the geopolitical tensions between Russia and Ukraine.