Stock Market Outlook: FOMC Minutes, India-EU FTA Talks, And TCS Q2 Results Among Key Factors To Watch

Stock Market Outlook This Week: Domestic benchmark equity indices ended last week on a positive note, fille with various key events. The Reserve Bank of India (RBI) kept the repo rate unchanged at 5.50 per cent in the MPC meeting held between September 29 to October 01.

Sensex closed 0.43 per cent higher last week at 81,207, while Nifty also gained 0.42 per cent during the week to close at 24,894.25.

The overall market setup for the coming week remains cautiously bullish. A dovish RBI stance, steady crude prices, and consistent domestic buying continue to underpin market stability, while early festive trends signal a pickup in consumption, buoyed by the recent GST rate cuts. With macro cues stabilizing, market attention will shift to Q2 earnings

and management commentary that could steer sector sentiment, said Ponmudi R, CEO – Enrich Money.

Sustained FPI selling continued in September with the sell figure through exchanges touching Rs 27163 crores. However, in keeping with the long-term trend of buying through the primary market FIIs bought equity for Rs 3278 crores in September. The selling in September takes the total sell figure for 2025 to Rs 198103 cr. This massive selling on top of the Rs 121210 crore selling in 2024 takes the total FII selling to Rs 319313 crores for the last 21 months.

VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited said that valuation differential has come down and Indian earnings are likely to improve in FY27, FIIs are likely to slowdown selling, going forward.

Market Cues To Watch This Week:

Q2 Earnings Season To Kick Off

IT major Tata Consultancy Services (TCS) on September 22 announced that its board will declare the September quarter results on October 9.

In a stock exchange filing, TCS said, “A meeting of the Board of Directors of Tata Consultancy Services Limited is scheduled to be held on Thursday, October 9, 2025, to approve and take on record the audited standalone financial results of the Company under Indian Accounting Standards (Ind AS) for the quarter and six-month period ending September 30, 2025.”

The board is also expected to consider a second interim dividend for FY26. TCS added, “The second interim dividend, if declared, shall be paid to the equity shareholders of the Company whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Wednesday, October 15, 2025, which is the Record Date fixed for the purpose.”

Fed FOMC Minutes

The Federal Reserve will release its meeting minutes on Wednesday, October 08. Earlier, The US Federal Open Market Committee (FOMC), chaired by Jerome Powell, had cut the benchmark interest rate to 4%-4.25% following the two-day meeting between September 16-17. This was the first rate cut of 2025.

India-EU Trade Talk

The 14th round of India-EU Free Trade Agreement (FTA) talks is set to take place this week, with India’s trade delegation visiting Brussels from October 6 to 10. Both sides are optimistic, with negotiations said to be “on track to be concluded by year-end.”

India is seeking wider market access for its labour-intensive exports, while the EU is aiming to boost shipments of automobiles and liquor to India. The EU’s recent approval of India’s fisheries exports is also expected to help balance the impact of US tariffs on the sector.

Meanwhile, Commerce and Industry Minister Piyush Goyal will visit Singapore, Qatar, and South Africa in the coming days, where he is expected to meet the EU Trade Commissioner during the G20 Trade Ministers’ meeting. Sources added that India and Qatar may finalise the Terms of Reference for an FTA before his visit to fast-track bilateral trade negotiations.

Heavyweight IPOs Opening

India’s stock market is set for a busy October, with companies lining up record initial public offerings (IPOs) worth nearly Rs 45,000 crore ($5 billion). Big companies such as Tata Capital, LG Electronics, ICICI Prudential AMC, Pine Labs, and WeWork India are gearing up to raise funds, making this one of the strongest IPO months ever.

According to Bloomberg data, Tata Capital will lead the pack with a Rs 15,500-crore issue, followed by LG Electronics and ICICI Prudential AMC.

HSBC India Services PMI, Composite PMI Data

S&P Global will release the HSBC India Services PMI and Composite PMI data for September on October 6. In August, the Services PMI Business Activity Index climbed to 62.9 from 60.5 in July, marking the strongest growth since mid-2010. Meanwhile, the Composite PMI Output Index rose to 63.2 in August from 61.1 in July — the fastest pace of expansion in over 17 years.