Domestic bourses will take cues from global markets in the coming weeks. Fears of further selling by foreign institutional investors will continue to weigh on the domestic bourses. An acute risk aversion has set in among investors as a result of the global financial sector crisis.
Meanwhile, the crucial Q2 September 2008 earnings reporting season has started with a weak note with IT bellwether Infosys cutting earnings and revenue guidance in dollar terms for the year ending March 2009. The company has attributed the downward revision to the ongoing global financial sector crisis and the drastic depreciation of major global currencies against the dollar.
Analysts see capital goods, telecom and IT firms reporting decent-to-strong earnings in Q2 September 2008. Auto and cement firms, on the other hand, are likely to see pressure on margins.
Strong order book will benefit capital goods firms whereas continued strong growth in new subscribers will boost financials of telecom firms. IT firms will benefit from weak rupee against the dollar.
Meanwhile, the crucial Q2 September 2008 earnings reporting season has started with a weak note with IT bellwether Infosys cutting earnings and revenue guidance in dollar terms for the year ending March 2009. The company has attributed the downward revision to the ongoing global financial sector crisis and the drastic depreciation of major global currencies against the dollar.
Analysts see capital goods, telecom and IT firms reporting decent-to-strong earnings in Q2 September 2008. Auto and cement firms, on the other hand, are likely to see pressure on margins.
Strong order book will benefit capital goods firms whereas continued strong growth in new subscribers will boost financials of telecom firms. IT firms will benefit from weak rupee against the dollar.
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