When the Sensex touched its record high during ‘mahurat’ trading this Diwali, creating wealth of ₹94,381.68 crore for investors in just one hour (translating into a whopping ₹26.21 crore per second), what it did was to immediately give a sense of optimism prevailing in the market. Indeed, markets are on song and it looks like the current rally has much more distance to cover. One of the key reasons supporting the current rally is the better than expected earnings’ reports of corporate India. Markets can go up due to several triggers, including interest rate cut, positive government announcements, etc. but when the rally in the equity markets is supported by earnings’ upgrades and better than expected earnings, the strength in the market momentum is validated.
The investing community had its eyes glued on the earnings for the July-September quarter. It was expected that the September quarter would be a much better one on a sequential basis. There was also the expectation that corporate earnings in the September quarter would fare better with businesses emerging from a nationwide lockdown which had caused unprecedented supply chain disruptions in the economy. Also, several analysts expected that the rebound would be helped by lower input costs, cost-cutting measures adopted by various companies and a steady demand recovery.
Diese Geschichte stammt aus der November 23, 2020-Ausgabe von Dalal Street Investment Journal.
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Diese Geschichte stammt aus der November 23, 2020-Ausgabe von Dalal Street Investment Journal.
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