Mkts hopeful of positive outcome from Budget: Macquarie

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

Rakesh Arora, Macquarie: Markets seem tepid and jittery, but hopeful of a positive outcome from the upcoming Budget session. The FM's reassurance of a 'responsible' Budget has raised hopes about both the Union Budget and the Railway Budget being positive catalysts for the market.

Gerard Minack, Morgan Stanley: Most investors are expecting significant equity upside if the world returns to normal. However, equities are not as cheap, relative to long-term averages and there's less upside for equities this year.