Oil prices, US Fed rate decision likely to drive markets this week

Developments around the West Asia conflict, crude oil prices and the US Fed interest rate decision would be the key drivers for market movement this week, analysts said.
Besides, quarterly earnings would drive sentiments in the market, they added.
"Developments surrounding the US-Iran conflict, shipping activity through the Strait of Hormuz, and movements in crude oil prices will remain key drivers of global risk sentiment.

In addition, investors will closely monitor the US Federal Reserve's policy meeting, where interest rate guidance and commentary on inflation will be critical for global markets," Ajit Mishra SVP, Research, Religare Broking Ltd, said.
On the domestic front, market participants will track June Industrial Production (IIP) data, he added.
Major companies reporting earnings this week include Coal India, BEL, Larsen & Toubro, Hindustan Unilever, Adani Enterprises, Asian Paints, Adani Ports, Bajaj Finance, Mahindra & Mahindra, Tata Steel, Maruti Suzuki, ITC, and