Ajay Loganadan, Head -Investment Advisory Group, HSBC Private Banking, feels

The momentum seems to be on the upside. "Earnings seem to be driving the market higher. On an average, about 280 companies have reported 7-8% topline growth which was expected or is probably better than expectations. But on the bottomline, we have seen 32-33% growth which is much better than what the market was expecting. If we continue to get flows both foreign institutional investor (FII) as well as domestic money continuing to participate, then we could certainly see the markets move higher."

He expects to see better economic data coming through from the September-October quarter.

source: MC