Mumbai: Indian markets head into a heavy week after a weak holiday-shortened week in which the BSE Sensex fell 1,605.44 points, or 2.15 per cent, and the NSE Nifty declined 546.15 points, or 2.36 per cent, PTI reported in its weekly market outlook on Sunday.

Source: PTI via Morning Top News

Analysts quoted by PTI said the coming days will be guided by the US Federal Reserve's policy meeting, crude oil prices, US Treasury yields and the dollar, foreign investors' trading activity, domestic industrial production data and the scheduled listing of Jio Platforms on October 28.

1,605.44 pointsSensex fall last week (2.15%)
546.15 pointsNifty fall last week (2.36%)
October 28Jio Platforms listing scheduled

The Fed meets on October 27-28, and market participants expect it to hold its target at 3.75-4.00 per cent, with the statement and Chair Kevin Warsh's press conference watched for December guidance, Upstox reported. In India, Nifty monthly derivatives contracts expire on October 27, which could add volatility.

Source: Upstox News

Crude remains the other big cue: December Brent settled at $116 a barrel on Friday, up during the week as attacks on Saudi energy infrastructure and Gulf shipping concerns restored the geopolitical risk premium, Upstox said. For India, PTI-quoted analysts noted, elevated crude threatens a higher energy import bill, a tougher inflation outlook and pressure on the rupee and corporate margins.

On the primary market, the Rs 30,213-crore Jio Platforms IPO — subscribed 22.19 times, with allotment expected on October 26 — is scheduled to list on the NSE and BSE on Wednesday, October 28, Upstox reported. A heavy September-quarter earnings line-up later in the week will also test whether companies can pass on higher oil and logistics costs without weakening demand.