Markets ride on Q2 earnings

The September quarter earnings season will kickstart shortly. Corporates in infotech, cement, steel and automobiles are expected to come out with good numbers with brokers expecting at least 28-30 per cent growth in profitability.

The markets are optimistic that foreign funds, who hold a tenth of India8217;s 285 billion market, will continue to shower money in quality stocks. Foreign fund registrations are up nearly 100 this year to over 600 foreign institutional investors.

Turnover tax on delivery-based trades will be levied at 0.15 per cent. On non-delivery based trades, turnover tax will be applied at 0.015 per cent. It will be applicable at 0.01 per cent in futures 038; options segment.