Indian equities are gaining ground relative to other Asian markets as stronger earnings and a nascent return of foreign investors bolster the case for further outperformance.
Profits at roughly two-thirds of BSE 100 companies that had reported results rose 20% year over year in the September quarter, according to Citigroup. The brokerage said that was the fastest growth in at least five quarters and exceeded estimates.
Consumer staples, steel and financials were among the sectors to receive earnings upgrades.
Sources: Bloomberg Markets.