Nifty valuations frozen for a year but Q3 earnings season could finally break the spell

Synopsis India’s Nifty50 has seen stagnant valuations for a year, but the upcoming Q3 earnings season could be a turning point. Analysts are divided, with some predicting a sharp rebound driven by banks, telecom, and metals, while others foresee continued soft earnings. The market is at an inflection point, with stock selection becoming crucial for potential gains. India’s benchmark stock index Nifty50 has been stuck in a valuation rut for the last 12 months, but a crucial earnings season starting next week could determine whether bulls get the rerating they’re betting on or face another round of disappointment in a…