Earning estimates for Dec' 10 quarter results: Angel

Angel Broking has come out with report on earning estimates for Dec' 10 Quarters. According to the research firm, Sensex did make an all-time high
during the quarter, extending the positive momentum of the previous quarter. But, it eventually corrected owing to negative news flow, ending a mere 2% higher qoq, after a strong performance in 2QFY2011.

India to attract substantial FII inflows: With QE2 related inflows on the anvil, CY2011 holds the potential to see even higher foreign inflows into the Indian equity markets, especially considering that earnings growth is also expected to improve - while the Sensex EPS CAGR is estimated at 18.4% over FY2010-11, FY2012E EPS growth is expected at 22.4%. This thesis is further validated by the broader perspective on India as well. In our view, even though each of the emerging markets is having its own set of cyclical headwinds and tailwinds, for a long-term investor what matters is that eventually few broader realities tend to overwhelm the myriad economic noises (fiscal concerns, bureaucratic hurdles, etc.) to determine the overall direction of the economy and in tow, the markets.

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