Corporate earnings logged a 3rd straight quarter of double-digit growth, underpinned by strong performances from OMCs, Metals, Telecom, Technology, Cement, NBFCs - Lending, and Capital Goods.
Analysts at PL Capital expect domestic-oriented sectors to outperform, naming banks, NBFCs, autos, retail, consumer staples, defence, metals, and select consumer durables as top picks.
Nuvama expects the earnings downgrade cycle to persist as export weakness and slower government spending offset tailwinds from Goods and Services Tax (GST) cuts