See 15.4% Sensex earnings growth in Q3FY17: Deutsche

Abhay Laijawala of Deutsche Bank says based on a bottom-up aggregate of estimates, the Sensex is likely to post earnings growth of 15.4 percent YoY in the December 2016 quarter.

However, a significant chunk of earnings growth is attributable to commodity sectors and an exceptional loss in the base of ONGC, he adds.Excluding oil and metals, Sensex earnings growth comes in at a muted 3.6 percent YoY, he says.

Within the Sensex, Laijawala expects sectors like energy, capital goods, telecom, pharma and utilities to post strong growth, while sectors like autos, banks and consumer to report negative earnings growth.