Today, we expect a flat to slightly positive start. Revision in guidance, if any from Infosys would be the key. The market is expected to be volatile in the short term as it awaits more signs of improvement on the economic front, both here as well as overseas.Though equities in the US and European markets advanced on Alcoa results, Asian markets are mixed.The earnings season is underway and the Alcoa numbers seem to have bolstered the sentiment, and heightened the expectations. Markets around the world still have to deal with a lot of earnings. They are looking for further evidence of recovery and what better source to get it than earnings. There are bound to be some disappointments just as there will be positive surprises. Take each day as it comes and don’t jump the gun and end up making a wrong move.
Infosys has come out with its Q2 FY10 financial results. The IT bellwether has reported a net profit of Rs15.4bn as against Rs15.27bn in the quarter ended June 30. The revenue for the reporting quarter is Rs55.85bn versus Rs54.72bn in the previous quarter. Operating profit margin for the second quarter stood at 34.6 compared to 34.1% in the April-June quarter.
