Earnings to drive markets this week as Nifty nears 22K

Overall for Q3FY24, we expect Nifty earnings to grow 10 per cent year-on-year driven by domestic cyclicals, such as autos and financial services, which are expected to post 35 per cent and 17 per cent growth respectively. Oil and gas earnings are also likely to surge 21 per cent, while cement, capital goods, metals, and healthcare are expected to report a healthy 98 per cent, 32 per cent, 25 per cent, and 20 per cent growth, respectively.