On sector level, private banks, midcap IT and large cap cement players surprised positively whereas capital goods and pharma companies disappointed in this quarter, he added.
In the Nifty 50, out of the 35 companies that came out with results, 34 percent of them beat estimates while 37 percent missed estimates, Singh said.
Shares of PVR rose more than 1 percent in early trade on the back of stake sale in its joint venture company.
The company in its meeting held on August 8 has approved sale of its 51 percent stake in PVR bluO Entertainment.
PVR bluO Entertainment is a joint venture between PVR and Major Cineplex group of Thailand in which PVR owns 51 percent stake with balance 49 percent stake held by Major group.
The company has signed definitive agreements with Smaaash Entertainment along with its partner Major Complex Group to sell 100 percent stake in PVR bluO Entertainment for a consideration of approximately Rs 86 crore.
Equity benchmarks extended previous day's losses in opening trade Wednesday, tracking weakness in Asia.
The 30-share BSE Sensex was down 91.45 points at 31,922.74 and the 50-share NSE Nifty fell 34.40 points to 9,944.15.
Nifty Bank was down 0.5 percent as Yes Bank, ICICI Bank, Bank of Baroda and Axis Bank were under pressure.
Nalco, Hindalco Industries and Vedanta gained up to 3 percent.
PVR, Endurance and Meghmani Organics gained up to 3 percent post earnings while HPCL, HDIL, Sintex Industries, JP Associates, HCC, Suzlon Energy and Balrampur Chini fell up to 10 percent.
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