Prefer ICICI Bank, L&T, Tata Motors: CLSA

Here are some of expert views on how the equity market is expected to behave in the near term:

Gerard Minack, Morgan Stanley said that, "The hunt for yield has spread to equities. Yield may already be a bubble, but it seems that the forces inflating the bubble will continue for the foreseeable future. I have been dead wrong to expect that macro disappointment would cause an equity correction this year, as it has in prior years." Mahesh Nandurkar, CLSA said that, "While FII inflows in large caps has continued in the past few quarters, this quarter also saw increase in ownership in small & midcap stocks. Interestingly, FIIs are gradually gearing their portfolios for a cyclical upturn. Our preferred plays are ICICI Bank, L&T, Tata Motors, Power Grid, cement stocks, midcap property stocks and Infosys. We would avoid 2-wheelers and staples."