The Q3 results season is about to close and the NSE 200 Companies result summary came with a mixed outcome wherein 38% companies beat the estimate while 48% misses the same and the rest were in line.
Sectors in terms of earning estimates
🔸Auto, FMCG, banks & utilities sectors saw higher beats & in-line earnings
🔸Financial services (ex-banks & NBFCs), industrials (including commodity) & pharma sectors saw misses
🔸IT and FMCG sectors have seen in-line earnings
Indian market price to earnings is trading above the 3Y average of 24.7X at 26.2X. Meanwhile, the market Cap to revenue is trading at 2.4X. Investors are relatively neutral on the Indian market at the moment.
Next week, investors' attention will turn to the FOMC minutes release, with traders scrutinizing any insights on when the Federal Reserve will start cutting interest rates. Simultaneously, the flash S&P Global US PMIs will offer an assessment of this month's economic performance. Beyond the US, attention will extend to flash PMIs for the Eurozone, Germany, France, UK, Japan and India.
Previous few weeks: Were quite eventful for markets as we saw a lot of reversals from the lows to highs and vice versa.
Coming week: Market is still in range until there is a breakout above 22129 while the support zone now shift to the VWAP of 21865. The formation is in place is more or less called a time correction pattern "Ascending triangle". Thus, the price action will be seen only after the range is broken.
Sectors in terms of earning estimates
🔸Auto, FMCG, banks & utilities sectors saw higher beats & in-line earnings
🔸Financial services (ex-banks & NBFCs), industrials (including commodity) & pharma sectors saw misses
🔸IT and FMCG sectors have seen in-line earnings
Indian market price to earnings is trading above the 3Y average of 24.7X at 26.2X. Meanwhile, the market Cap to revenue is trading at 2.4X. Investors are relatively neutral on the Indian market at the moment.
Next week, investors' attention will turn to the FOMC minutes release, with traders scrutinizing any insights on when the Federal Reserve will start cutting interest rates. Simultaneously, the flash S&P Global US PMIs will offer an assessment of this month's economic performance. Beyond the US, attention will extend to flash PMIs for the Eurozone, Germany, France, UK, Japan and India.
Previous few weeks: Were quite eventful for markets as we saw a lot of reversals from the lows to highs and vice versa.
Coming week: Market is still in range until there is a breakout above 22129 while the support zone now shift to the VWAP of 21865. The formation is in place is more or less called a time correction pattern "Ascending triangle". Thus, the price action will be seen only after the range is broken.