Sensex Q2 earnings seen at 10.2%, says Abhay Laijawala

Abhay Laijawala of Deutsche Bank said, "Based on a bottom-up aggregate of Deutsche Bank analyst estimates, we expect Sensex to post earnings growth of 10.2 percent YoY in the September quarter, the first double-digit growth in the past 10 quarters. For a market that has been concerned over high valuations and waiting for over two years now for double-digit earnings growth, this could be a potent catalyst.""However, while we are excited over what appears to be the return of a strong earnings growth trajectory, we remain concerned over global macros and hence maintain a near-term cautious stance on the market with a December Sensex target of 27,000. We reiterate our overweight stance on domestic/defensive sectors, i.e. consumers, utilities, energy, and healthcare," he added