The festive cheer was visible on D-Street in the last hour of the trading session as bulls helped the market to reverse losses. The Sensex recouped losses, rising 37 points to 39,058; while the Nifty closed 1.30 point higher at 11,583.For the week, the Nifty closed flat with negative bias down 0.75 percent while the Sensex fell 0.6 percent for the week ended October 25. Experts feel that in the coming week a lot of action will be centred on banking stocks. After stellar numbers from State Bank of India, more PSBs will declare their results in the coming week.Corporate earnings have been muted throughout the year and are expected to be tepid in the near to medium-term as well. Earnings risks continue to be tilted to the downside on account of the underlying weak demand scenario, the uneven asset quality trends in financials and the deflationary trends in commodity prices.Close “For 2QFY20, we expect Nifty sales/PAT to decline by 2-8 percent. The silver lining is that the festive season demand has begun on a positive note. Thus while we are expecting 12 percent EPS growth in FY20 for Nifty, we are estimating a strong revival of 28 percent growth in FY21,”… Read full this story
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