LIC Housing had some good numbers, Gruh's numbers were okay, Dewan Housing was good. But I think the sectors and stocks that drove the market up in the past two-three months were domestic cyclicals and some global cyclicals. This quarter the numbers are getting reported in the context of Nifty at 8,500-8,600, so you want the numbers to be good. If you look at the March quarter numbers, they were reported in the context of Nifty at 7,700-7,800, so you were expecting them to be not bad. Rajat Rajgarhia, CEO of Institutional Equities at Motilal Oswal Securities, says earnings of domestic and global cyclicals, which drove the market last quarter, are going to be the core for this market to focus on.

Source: Economic Times July 25, 2016 08:03 UTC