Expect Sensex fall to 19000-19500: Jyotivardhan Jaipuria

Here are experts’ equity calls for the day on how the market is expected to trade:

Jyotivardhan Jaipuria, Bank of America Merrill Lynch: Vote on Account is in line with market expectations. The finance minister did not announce any major tax changes. The only minor changes were reduction of excise duty on autos and capital goods. However, these reductions are only till June 2014 and would be reviewed in the regular budget post elections. We expect the markets to correct to 19,000-19,500 levels in near-term. Our year-end target of 23,500 is driven by a positive election outcomes and rate cuts by the RBI.

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Neelkanth Mishra, Credit Suisse: With elections round the corner, we do not expect any incremental slowdown in government spending at the bottom of the pyramid. The lull in infrastructure/heavy investment can though last for at least next six months. We have a buy on Maruti, ITC, Godrej Consumer and sell on L&T, BHEL & SBI.