earnings: Market Watch: What to expect from the ongoing earnings season?

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Let us take a quick glance at what happened on Dalal Street today.

On a day markets across Asia ended lower, buying in IT majors and stocks such as ITC and Larsen & Toubro helped domestic benchmarks reverse morning losses and settle higher. Sensex climbed 134 points to top 52,900. Nifty50 reclaimed 15,850. The NSE benchmark added 0.26 per cent for the day. The gains were led largely by IT firms that advanced ahead of Infosys’ June quarter results. TechM rose 3 per cent, Infosys and HCL Tech added 2 per cent each, while TCS rose nearly 1 per cent. L&T, Tata Steel, ITC and NTPC remained some other gainers, rising up to 2 per cent. Maruti Suzuki fell 1 per cent while FMCG stocks HUL and Nestle India declined up to 1 per cent. Advance-to-decline ratio remained in favour of the bulls, with 500-odd stocks on BSE hitting 52-week highs for the day.

We have Binod Modi, Head – strategy at Reliance Securities with us to share his views on the day’s action and the road ahead:

Welcome to the show, sir:

1) How would you sum up today’s trade?
2) What are your broader expectations from the ongoing earnings season?

We also caught up with Aditya Agarwala of YES Securities to decode the technical charts for you.

1) Nifty50 is stuck in a range. Do you see a breakout soon?
2) What is your view on Nifty Bank?

Asian markets ended up to 1.4 per cent lower. Major European markets were trading half-a-per cent lower in the first few hours of trade. US stock futures were up, hinting towards a flat-to-positive start to US equities later in the day.

That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye!