Global trends and the pace of vaccination would also guide the local equities, they added.
"In the week ahead, the key event in the domestic market will be the announcement of RBI's monetary policy decision. To give a view on economic recovery, the market awaits the release of manufacturing and service PMI data," said Vinod Nair, Head of Research at Geojit Financial Services.
Among major earnings announcements, HDFC, PNB, Adani Ports and Special Economic Zone, Bank Of India, Bharti Airtel, State Bank Of India, and M&M would release their financial results.
Nirali Shah, Head of equity research, Samco Securities, said, "The RBI's MPC meeting is scheduled for the coming week. Auto sales numbers, PMI figures along with the result season will continue to drive stock specific movements on D-Street."
"Macroeconomic data, pace of vaccination and global trends would be major driver for markets. Auto companies are going to remain in focus as they are going to declare their monthly sales number," Rahul Sharma, Co- Founder, Equity99, said.
Last week, the 30-share BSE benchmark dipped 388.96 points or 0.73 per cent.
"In our view, progress of monsoon, corporate earnings and COVID-19 trends will remain in focus in the near term," said Binod Modi, Head Strategy at Reliance Securities.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)