EM flow trading rule maintains sell signal: BofA ML

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

Michael Hartnet, BofA ML: The recent flows suggest a reversal of recent equity bullishness with USD 1.8 billion of outflows from Equity Funds while a big USD 7 billion of inflows went to bond funds. Money exited nearly from all regions except EMs, which actually gained another USD 2.2 billion last week. Our EM flow trading rule maintains a 'sell' signal which suggests pause or retracement in EMs in coming weeks.

Mahesh Nandurkar, CLSA: The stellar performance of Indian markets would imply that the equity capital markets should now be open after a lull of the past four quarters. While the action might pick-up at a short notice through QIPs and IPPs. FII inflow can have a large impact on secondary markets. Bhushan Steel, Dish TV, JP Associates are among our picks to play on theme of easy equity raising environment.