Earnings, Fed decision to set tone on Street

The US Fed interest rate decision, domestic macroeconomic data announcements and ongoing quarterly earnings are some of the major factors that will drive the stock markets in a holidayshortened week, analysts said.

Besides, monthly auto sales numbers and the LIC IPO will also remain in focus, they added.

Equity markets will remain closed on Tuesday for Id-Ul-Fitr (Ramzan Id).

"The market is likely to kick off this week on a sombre note after a sharp fall in the US market then the focus will shift to the outcome of the US FOMC meeting, which is crucial amid record inflation and growth worries. The FOMC meeting is scheduled for

Wednesday and the Indian market will react to it on Thursday. This week is going to be a truncated one as the market will remain shut on Tuesday on account of Ramzan Eid.

"Global cues will dominate because apart from the FOMC meeting, there will be a release of BOE interest decisions, US payroll numbers, and worldwide PMI numbers," said Santosh Meena, Head of Research, Swastika Investmart Ltd.

The movement in commodity prices, dollar index and FIIs' behaviour will remain other key factors, he added.

On the domestic front, we will have monthly auto sales numbers whereas there will be lots of Q4 earnings, including Reliance, Britannia, HDFC Ltd, Adani Enterprises, Heromoto Corp, Tata Steel, Titan, Kotak Mahindra Bank and Tata Power, Meena said.

"This week is a holiday-shortened one and it's going to be critical as some of the important events and data are lined up. Participants will first react to auto sales numbers.