Corporate earnings are not going to resurrect the market, and its clear from the Q2 results. Even the companies with impressive results are sliding.
In my understanding some tax concessions granted through budget 12, or lowering of corporate tax rates can be a small trigger, at the same time I think re instating broker credits as it was before could also be another.
The expropriation law will certainly hurt foreign investments for a long time to come and could cost lot of money if sovereign credit ratings were down graded.
Some of the other triggers could be;
1) Better employment numbers in US
2) Resolution of debt crisis in EUR
3) Some Big local banks obtaining foreign financing
4) China devaluing its currency by 10-20%
5) What else?