Market outlook: Brace for a choppy FY18, earnings growth key

For markets to sustain at higher levels, a pick-up in corporate earnings is essential, analysts say

The current financial year has been good for Indian equity markets that surged nearly 17 per cent, with the Nifty50 index hitting its 52-week high of 9,218 during this period. While investors hope the momentum will be carried into the next financial year, 2017-18 (FY18), experts say the implementation of the goods and services tax (GST) from July 1, among other factors, will be the key to how the markets react.
 
Experts, however, expect the markets to be choppy or range-bound in FY18, at least in the first half.
 
“I am slightly cautious towards the implementation of the