Jitendra Sriram, HSBC Securities said they had a Sensex target of 19,300 by year end, indicating an upside of 14%.
Here are experts equity calls for the day on how the markets are expected to trade:
Jitendra Sriram, HSBC Securities: The trend of foreign investors buying Indian companies has been seen across sectors especially IT and consumption, with telecom the only sector seeing net selling. We reiterate our Overweight stance on Indian stocks in the Asian context. We have a Sensex target of 19,300 by year end, indicating an upside of 14%.
Sanjeev Prasad, Kotak Institutional Equities: While GAAR is been deferred, India still needs to do a lot more to retain the faith of domestic and overseas equity investors. We continue to advocate a defensive stance and are Overweight consumers, pharmaceuticals and technology sectors that have earnings resilience and a positive leverage to a weakening rupee. We have removed Sun Pharma from our top-8 ideas and replaced it with Power Grid.
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Market technically overbought; paper supply to weigh: Dutt