Infosys, Coal India and Tata Motors topped buying list on Sensex, up 1-2 percent while ITC, L&T, Bajaj Auto and GAIL fell 1 percent each.
First, the sequential QoQ aggregate sales growth excluding commodities and banks is the best in four years.
Second, the number of positive surprises in earnings outpaced negative surprises for the first time in at least the last one year.
Third, operating margins excluding commodities and banks have now risen to 22.3 percent, among the highest seen in 27 quarters. Fourth, domestic cyclicals are continuing to outpace global sectors handsomely in-line with the dichotomous business environment of local recovery and global weakness in growth.