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Corporate earnings growth to drive the next leg of market rally: Analysts

While consensus earnings growth expectations for Nifty50 at 8.6% for FY23 have come down from over 11% at the start of the year, FY24 expectations at 19.2% YoY remain broadly stable

Sensex, BSE, stock markets
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Puneet Wadhwa New Delhi

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The Indian markets have seen a good run in the last three months with the S&P BSE Sensex rising around 7 per cent and the Nifty50 moving up 7.5 per cent. The next leg of the market rally from here on, analysts suggest, will be driven by a growth in corporate earnings over the next few quarters. That said, they do not expect material / sharp downgrades to India Inc’s earnings estimates despite headwinds for the economy.

“We believe that after a weak start to the year, the market is now in a two-step forward phase. A good fourth quarter

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First Published: May 31 2023 | 11:38 AM IST

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