Budget unlikely to change underlying economic momentum:Citi

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

Aditya Narain, Citigroup: With no meaningful longer-term structural reform in the Budget and only modest attempts at fiscal reform and few handouts to businesses, it's unlikely to change the underlying economic momentum. That could be a little negative for the market, given that the 15%+ move this year partly anticipated a revival in economic and government policy-making. Michael Hartnett, BofA ML: The 4.2% average cash balance recorded in the global FMS is safely above the 3.5% level that signals a contrarian 'sell'. But while positioning may not hold back global equities, asset allocators are already sitting on hefty EM equity positions. Even the relative underperformance of EMs over the last month has not inspired fund managers to reduce their holdings.