Traders See Calmest India Earnings Season as They Look Past TCS

Tata Consultancy Services Ltd.’s earnings disappointment has failed to spook the market as traders bet on subdued moves among companies in India’s main equity index this reporting season.

On the eve of TCS’s release, options were implying an average 2.3% earnings-day move for Nifty 50 Index members, the least ever at the start of an earnings period, according to data compiled by Bloomberg going back to 2016. For TCS specifically, traders had positioned for a 3% move, compared with an average 3.2% after the previous eight quarterly reports. The stock, however, fell only as much as 1.8% on Friday ...