State elections’ outcome looms as a key uncertainty heading into this month, another analyst said.

The RBI’s interest rate decision, macroeconomic data, global cues and movement of the rupee will set the stock market trend this week, say experts.

PMI data for the manufacturing and services sectors are due this week which would influence trading sentiment in the market, they said. Equities may also react to the GDP numbers released post market hours Friday.

India’s economic growth slowed to 7.1 per cent in the September quarter after peaking to an over two-year high in the first three months of this fiscal, as consumption demand moderated and farm sector displayed signs of weakness.

The Monetary Policy Committee (MPC) will hold the fifth bi-monthly monetary policy meeting for 2018-19 during December 3-5. Experts said the Reserve Bank is likely to maintain status quo on interest rate despite moderation in economic growth and easing inflation. Also, announcement of sales data by auto companies may see stock-specific movement.

“Investors will look forward on the outcome of US-China meet during the G20 summit and upcoming OPEC meet to get cues on production cut,” said Vinod Nair, Head of Research, Geojit Financial Services.

State elections’ outcome looms as a key uncertainty heading into this month, another analyst said. Trading in Brent crude, the international benchmark, will also be monitored for further cues. Over the last week, the Sensex gained 1,213.28 points, or 2.34 per cent to close at 36,194.30 on Friday.