Remain neutral on India as valuations look expensive: HSBC

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

Bharat Iyer, JP Morgan: Sensex earnings growth expectation of 16 percent for FY14 appears optimistic and may need to be revised lower if growth doesn't pick up meaningfully. Consumer discretionary, PSU banks and materials could be vulnerable to earnings downgrades. We remain Overweight on IT services, healthcare, private banks and government utilities. Herald Van Der Linde, HSBC: India is not yet witnessing an earnings upgrade cycle, which could drive this market higher. We remain neutral on India in an Asian context as valuations look expensive. Also Read
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