Deutsche Bank overweight India

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

John-Paul Smith, Deutsche Bank: We have been underweight Emerging Markets and continue to maintain that position. But we're overweight India, which is a major beneficiary of lower oil prices. In terms of sectors, we move staples down to neutral and note that investors herding into overvalued stocks is hardly a vote of confidence in the asset class.

Willem Buiter, Citigroup: We believe the planned bailout for Spain's banking sector is ill-conceived. The right thing to do would be to pay the EFSF loans directly into the banks, bypassing the sovereign. This would have been a decisive signal that the Eurozone is moving towards a banking union, a necessary condition for the survival of the Euro area.

Also Read:Indian market outlook ahead of the EU summit