HSBC downgrades India to underweight

Here are some of expert views on how the equity market is expected to behave in the near term:

Herald Van Der Linde, HSBC said that, "The corrective phase for Asian markets has not yet hit its lowest point, but it's not far off. Further downside is an opportunity to add risk and we see 15-20% upside in Asian equities in 2013. However, we downgrade India to underweight from neutral because of high inflation, slower growth and lack of measures to control the current account deficit."

Neelkanth Mishra, Credit Suisse said that, "The broader market doesn't look attractive yet as FY14 earnings have 10% downside and large sectors such as financials can still correct meaningfully. We have upgraded NTPC, Cairn India and Ambuja Cements, we also like Reliance, HCL Tech and Sterlite."