<ul><li>Indian markets may see a rally in the near term due to expected positive developments such as a trade deal with the US and further interest rate reduction by the Reserve Bank of India.</li><li>Earnings growth will be crucial for sustaining market momentum rather than external factors, as India Inc.'s earnings have been declining for the past four quarters.</li><li>Ambit Investment Managers MD expressed skepticism about earnings rebound in the second half and highlighted that the stock market is expected to be a stock-picking market with no clear sector trend.</li><li>Agarwal mentioned that economic events globally are likely to cause an economic slowdown, leading to cuts in discretionary budgets with IT sector growth outlook not expected to be strong.</li></ul>

Markets May See Rally In Near-Term But Earnings Growth Crucial For Momentum: Ambit Investment Managers MD

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