Thursday, 12 January 2017

Nifty hits 8400, Sensex in green

Based on a bottom-up aggregate of estimates, the Sensex is likely to post earnings growth of 15.4 percent YoY in the December 2016 quarter. However, a significant chunk of earnings growth is attributable to commodity sectors and an exceptional loss in the base of ONGC. Excluding oil + metals, Sensex earnings growth comes in at a muted 3.6 percent YoY. 

Within the Sensex, he expects sectors like energy, capital goods, telecom, pharma and utilities to post strong growth, while sectors like autos, banks and consumer to report negative earnings growth.

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