Year 2017 was good for the market, with the Nifty gaining 29 per cent, largely on the back of sentiment or price-earnings expansion, rather than an uptick in earnings.
This, however, could change with brokerages expecting a healthy growth in earnings in 2018, driven by policy reforms and a revival in private capital expenditure. Clean-up of the distressed assets, revival of rural demand on the back of normal monsoons and farm loan waivers, and higher infrastructure spending should help consumption and macro-driven sectors, such as financial, automobiles, fast-moving consumer goods and ...
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