CLSA upgraded financials to neutral weight

Here is expert equity call for the day on how the markets are expected to trade:

N Krishnan, CLSA: The market correction is well underway with the Sensex down 13% YTD. The near-term outlook is weighed down by five factors, but most of these headwinds are tactical in nature, in our view. Growth in the economy & earnings in FY12, while moderating, will remain healthy. The correction has created entry opportunities in some financials, industrials. We have upgraded financials to a neutral weight in our model portfolio.