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Oct 19, 2012, 09.06 AM IST
Ridham Desai of Morgan Stanley continued to back a higher cyclical exposure. He said the key risk to his call is the sharp recovery in global growth, leading to increase in commodity prices and putting pressure on margins.
Here are experts equity calls for the day on how the markets are expected to trade:
Chris Wood, CLSA: The US presidential election is again looking a very close call. In our view, which way the election goes has some clear short-term implications for the foreign exchange market. A Romney win would at least initially send the dollar higher and the stock market lower. An Obama victory will have the opposite effect. Any such near-term post-election reaction would quickly be overshadowed by focus on the pending fiscal cliff. Ridham Desai, Morgan Stanley: Corporate fundamentals have been relatively better in India than the rest of the world in 2012. An absolute upturn in India bodes well for overall equity markets and credit cycle and thus, for banks. We continue to back a higher cyclical exposure. The key risk to our call is the sharp recovery in global growth, leading to increase in commodity prices and putting pressure on margins.
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