Fed policy, Q2 earnings, crude oil prices among key market triggers next week

Mumbai: Stock market investors will closely track the US Federal Reserve's policy decision, a packed corporate earnings calendar, crude oil price movements, Jio Platforms' stock market debut and key domestic economic data releases in the coming week for cues on market direction.

Corporate earnings will remain the primary focus for investors as several major companies are scheduled to announce their September-quarter results.

Domestic macroeconomic data will also be on investors' radar. Market participants are expected to assess September industrial production and manufacturing output figures to gauge the strength of economic activity and demand conditions in the country.

Globally, attention will be centred on the US Federal Reserve's monetary policy announcement on October 28. While policymakers are widely expected to keep interest rates unchanged, investors will scrutinise the central bank's commentary for indications on the future trajectory of rates.

Any shift in the Fed's stance could impact global capital flows, bond yields and risk appetite across emerging markets, including India.

Crude oil prices are likely to remain another key market driver amid continuing geopolitical tensions in West Asia. Sustained strength in energy prices could increase inflationary pressures, raise India's import costs and impact corporate earnings, particularly for sectors dependent on fuel and raw materials.

Adding to the week's significance, Jio Platforms is scheduled to make its stock market debut on October 28. The listing is expected to be one of the most closely watched market events of the year and could provide important signals about investor appetite for large public offerings.

Foreign institutional investor activity will also be monitored closely as global developments and central bank signals continue to influence portfolio flows into emerging markets.

Analysts believe that the interplay of earnings outcomes, macroeconomic data, global policy signals and energy prices will determine the near-term direction of the market.

Commenting on Nifty technical outlook, experts said that the 22,200–22,400 zone will be crucial to monitor. "A sustained hold above this support band could provide a base for consolidation and a potential recovery attempt. However, a decisive breakdown below this region could expose the index to further downside towards 21,700," market watchers stated.

"On the upside, 22,900 is likely to act as immediate resistance. A sustained move above this level would be required to improve the near-term technical outlook and open the way towards 23,300," analysts added.

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