Big Boys Club Stocks, Asian Paints, Axis Bank & More Q2 Earnings Scheduled Today

The domestic market snapped a four-day rally streak and opened in negative on Thursday, tracking weak global cues, as Asian equities tumbled amid a jump in US Treasury yields and a record fall in the Indian rupee against the US dollar.

Banking, financial and consumer durable stocks pulled the market lower while IT and FMCG sectors provided support. At the time of writing, benchmark indices Nifty50 traded 0.24% lower while Sensex declined 178 points or 0.3%. Nifty Bank plunged 1.24%.

V K Vijayakumar of Geojit Financial Services states that good Q2 numbers, especially from financials are providing fundamental support to the domestic market, adding that as long as DIIs are flush with funds, Dalal Street is unlikely to correct sharply.

The cigarettes-to-hotels conglomerate ITC (NS: ITC ), along with the NBFC giant Bajaj Finance (NS: BJFN ) will release their earnings results for the September quarter on Thursday. These two companies fall under the country’s top 10 most valued list by market capitalization (Big Boys club).

A non-exhaustive list of companies announcing their Q2 FY23 earnings results on Thursday includes: