Need more reforms for excitement to continue: Kotak

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

Sanjeev Prasad, Kotak Institutional Equities: The Finance Minister's recent statements on commitment to reforms, improving macro-economic parameters and softer commodity prices may support the interest in the Indian market. However, the government
may need to demonstrate more conclusive reforms for the excitement to continue. Valuations of good quality stocks post the recent run-up are looking frothy and earnings are not very supportive.

Russell Napier, CLSA: All the indicators point to much lower global growth with a risk of deflation. Only rising developed world equity markets are going in a non-deflationary, less growth direction. These indicators seem to be wrong.