Expect Asia-Pacific mkts to continue recovery rallies: CLSA

Laurence Balanco, CLSA: We expect Asia-Pacific markets to continue their recovery rallies into late-July, early-August before uncertainty ahead of the US elections ushers in another bout of selling. For the Nifty, the trading range between 5402-5700 continues to dominate price action. We feel the support is at around 5,000 and resistance is at 5400 levels.

Aditya Narain, Citigroup: First quarter Sensex growth should be 12% reflecting a slowing, but stabilizing economy. That said, we expect broader earnings to be higher at 15%, margins to move up and a more balanced earnings performance across sectors. While the GDP outlook continues to look weak, earnings are turning out to be a better story - albeit only slightly.