Expect fiscal policy action to continue, says Ridham Desai

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

Ridham Desai, Morgan Stanley: We expect fiscal policy action to continue because that is the best chance for the UPA to win the next elections. This is among the reasons why we are constructive on equities. The other reasons include the strong global liquidity cycle, an impending recovery in earnings growth, supportive valuations and hesitant sentiment. Michael Hartnett, Bank of America Merrill Lynch: After 4 months of improved sentiment towards China, this month EM investors became less constructive on the region. But optimism on markets like India and Russia improved notably. Across sectors, EM investors became increasingly bullish on discretionary, tech and financials.