Q1FY24 Hits & Misses

Q1 Results at a Glance

After hitting a record high in the last quarter of FY23, compared with their poor showing in the previous two quarters of the financial year, the first quarter of FY24 has started on expected lines. India Inc.’s earnings for the quarter ended June 2023 are yet to cross the halfway mark and have largely remained as per market expectations with no major surprises 

The equity market has been under the firm control of bulls since the beginning of the financial year. Week after week, the equity indices have been scaling new heights, often reaching multiple milestones within a single week. For instance, in the last 17 trading sessions ending on July 21, the Nifty 50 achieved a lifetime high on 11 occasions. Currently, it stands tantalisingly close to the 20,000 mark, with a recent high of 19,991.8 on July 20. Similarly, the Sensex also touched the remarkable milestone of 67,000.