India - 2nd worst performing EM in 2011: Ridham Desai

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

Ridham Desai, Morgan Stanley: 2011 is a year which equity investors will want to forget quickly. It is ending as the second-worst in India's history after 2008 and as the second-worst-performing emerging market (EM) out of 21 and consensus has now revised FY12 Sensex earnings growth down by 7.5 percentage points since the start of 2011. However on a relative valuation basis, India is still above its peers."

Stephen King, HSBC: As we approach 2012, we are facing economic uncertainty on the grandest of scales. We have always argued that a break-up in the EU could trigger another great depression. There is no doubt that policymakers now recognise this risk. However, despite signs of greater urgency to deal with the problem, investors mostly remain unconvinced."