Analysts now expect India Inc to report a decline in both top line and bottom line for the September quarter.
The higher rate cut by RBI is positive for rate-sensitive sectors in the medium to long term.
Nifty50 surged 87 points to end at 8,157, highest closing levels since Oct 29, 2015.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Margaret A Hamburg, the first commissioner of the US Food and Drug Administration (US FDA) to visit India officially, will meet heads of major domestic pharma companies such as Ranbaxy, Wockhardt, Cadila Healthcare and Lupin in New Delhi.
Investors accumulated quality stocks at valuable and attractive levels.
Financials are the top gainers along with index heavyweights.
Nifty, which has struggled around 8550-8560 levels managed to blast past this resistance and close above the psychological mark of 8600.
Analysts mostly prefer domestic plays beside select films with foreign exposure.
Corporate India's earnings in the past two quarters were largely driven by the rupee's sharp fall versus the dollar in the second quarter of this financial year.
The rise in India Inc's market value was led by asset-light firms.
Import alert on Ranbaxy's Mohali unit; Strides' injectible arm gets warning letter
The combined networth of India's 100 wealthiest is $381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from $ 345 billion in 2015
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
Movement of rupee and crude oil prices will also dictate the trend
The sharp fall in the rupee's value against the dollar during the July-September quarter, it turns out, has come as a boon for corporate earnings.
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