RBI to cut GDP growth forecast of 8%: CLSA

Here are expert equity calls for the day on how the markets are expected to trade:

Rajeev Malik, CLSA: The rate hike on Friday was on expected lines. At the next meet in October, RBI will probably adopt a wait and see approach unless inflation spikes up. We also expect the RBI to cut its GDP growth forecast of 8% & it may begin to ease rates before the middle of next year.

Prabhat Awasthi, Nomura: The ongoing global gyrations of risk sentiment and the accompanying flight to safer dollar assets have caused a significant depreciation of the rupee. The chief beneficiaries would be exporting sectors, mainly IT services and pharma, to a lesser extent.