ICICI Securities CIO Piyush Garg On Why Earnings Growth Is The Next Trigger After Budget 2024-25

After the Budget, Piyush Garg, CIO of ICICI Securities, points out that the market is currently in an expensive zone, depending on sustained earnings growth. He notes that if earnings in FY25 show a deceleration in growth rate, which seems to be emerging from Q1 FY25, the market may be headed for some correction. Post-Budget 2024-25, earnings growth will be the primary focus for investors, serving as the biggest driver for the stock market. A buoyant earnings season in FY25 would be positive for the market.