Equity calls: Thukral, Mowat

Hemant Thukral, Asian Markets Securities: The market is net long with Put writing at 5000 and 5100. The Nifty may rally to 5300-5350 in the short-term. The auto sector looks good with buildup in M&M, Tata Motors, Ashok Leyland and TVS. DLF looks strong among realty stocks.

Adrian Mowat, JPMorgan: The Fed's 25 bps rate cut was in-line with expectations. The US markets are now reacting to economic data as problems in the credit market seem to be easing. Asset allocation has been seen in economies where inflation and interest rates are benign. I remain cautious on India and think it will not outperform Asian peers as valuations are still expensive.