Expect broader market indices to be range-bound: IIFL

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

Prabodh Agarwal, IIFL: Despite the recent fall, we expect the broader market indices to be rangebound, as valuation support will prevent the market from falling further. Quality companies with higher-than-market earnings growth should continue to outperform; these would include private banks, NBFCs, consumer, pharma, and IT. Investors should continue to avoid capital goods, infra, realty, PSU banks, metal, and energy stocks.

Nigel Tupper, Bank of America Merrill Lynch: Our short-term tactical view remains positive as economic data globally has improved. On valuations, Asian markets remain attractive. Our Regional Strategy team recommends positioning for an economic upturn with overweights in China and India.