Rate cuts will be key trigger for market, says BoAML

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

Jyotivardhan Jaipuria, Bank of America Merrill Lynch: We expect further downgrades to FY14 Sensex EPS to Rs 1260, an 8 percent earnings growth. Rate cuts rather than results will be the key trigger for markets. Lupin, HCL Technologies, Idea Cellular and ICICI Bank results could outperform, while Bajaj Auto, Ranbaxy Labs, Hindustan Unilever (HUL) and NTPC could be laggards.

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John Paul Smith, Deutsche Bank: The potential tapering of quantitative easing (QE) in the US is of much less concern to us than the situation in China. We remain underweight emerging market (EM) equities, though the rate of underperformance could slow down over the near-term. We will only upgrade India from neutral to overweight when oil prices break down.