ICICI Bank, Axis Bank, L&T, Tata Motors top ideas: CLSA

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

Mahesh Nandurkar, CLSA: Investment upcycle is not visible just as yet, but the confluence of better policy environment, expected corporate recovery, lower inflation and interest rate should drive an improvement. We build in cyclical recovery by FY14-end and our top ideas are ICICI Bank, Axis Bank, L&T, Maruti, Tata Motors and Zee.

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Michael Kurtz, Nomura: We think skittish global markets have overreacted to higher bond yields and steeper curves. The ultimate success of QE would show in a resumption of self-sustaining growth and inducement of a constructive level of inflation. Such outcomes should render higher long-term bond yields nearly inevitable.