Biggest fear of Nifty bulls coming true as Q2 results leading to downgrades, target price cuts

Nifty bulls face challenges as Q2 results lead to downgrades in earnings estimates and target price cuts. Consumer sectors, including auto, show weak performance due to sluggish demand and rising competition. High input costs affect margins in sectors like FMCG and cement. Banks perform relatively well, but market valuations remain elevated, posing risks.