Weak Q1 results, IIP suggest some more pain ahead: ENAM

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

Anirudha Dutta, CLSA: The rising despondency over India's growth and its political management is nothing new. But even in previous downturns, there have always been bottom-up stock ideas that have yielded good returns over 2-3 years. We believe BPCL, Cairn India, HDFC Bank, ICICI Bank, ITC, Sun Pharma and Zee Entertainment will provide rich returns.

Nandan Chakraborty, ENAM: Market direction is now wedged between global cues and hopes of any action in the Monsoon Session of the Parliament. Disappointing results, weak IIP, slackening business and consumer confidence indices & poor monsoon do not bode well for the near-term and suggest some more pain ahead.