The MPC's interest rate decision, a host of macroeconomic data announcements, COVID-19 trends and global factors would be the major highlights in the equity market this week and their outcome would be a major driving force going ahead, analysts said. "This week marks the beginning of the new month also and a lot of important macroeconomic data and events are lined up. On the macroeconomic front, we have GDP data for the first quarter, core sector data, Markit Manufacturing PMI and services data scheduled during the week," said Religare Broking Vice-President (Research) Ajit Mishra. He also added monthly auto sales numbers will also start pouring in from June 1. Importantly, the Monetary Policy Committee (MPC) review meeting is also scheduled this week, Mishra added.