After the miss from TCS and inline performance from Infosys, all eyes will be on Wipro, which will report its Q2 numbers after market hours on Tuesday.

It is expected to be a muted quarter for the information technology major. Dollar revenue growth is likely to be 0.9 percent. In constant currency terms, it should be a growth of 1.2-1.3 percent which will be within the company’s guidance range of 0-2 percent for the quarter.

Wipro's Q3 guidance will be a key thing to observe. Wipro is now the only IT company which still gives a quarterly guidance and it is estimated to be between 0 percent and 3 percent. On the margin front, a decline on a sequential basis is expected as wage hike for Wipro kicks in on June 1, meaning there will be a full quarter impact of wage hike.

While Nifty IT index has generally done well so far this year, Wipro has been a laggard. It’s down around 4-5 percent and its growth is faltering compared to peers. It has been underperforming for the past several years.

For the last full year, Wipro’s growth was about 5.5 percent. So the street wants to see signs of a pickup in terms of growth rate.

The outlook on banking, financial services, and insurance (BFSI) will also be critical because it was the key driver of growth at least until last year and there has been cautious commentary on TCS as well as Infosys, and the sustainability of margin in light of poor growth will be crucial.