Equity calls: Raychaudhuri, Thukral

Manishi Raychaudhuri, UBS Securities: The recent rise in the market was on the back of risk appetite returning to EMs and no major negative surprises in Q4 earnings. I remain cautious on the market for the near-term as core issues like inflation and high interest rates have not been resolved. The govt's steps to curb domestic commodity prices is also a concern.

Hemant Thukral, Asian Markets Securities: The Nifty should hold 5000 levels. Oil & Gas is still the sector to watch out for. Cairn and HOEC continue to look strong. I like Aurobindo Pharma, Arvind Mills and Alok Textiles. ACC and Grasim look weak.