Raised export sector allocations in model portfolio: Enam

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

Michael Hartnett, BofA ML: Despite the 12% rally in global equities from trough to peak, equity long-only funds have experienced consistent redemptions over the past 12 weeks. Risk-taking has been isolated to mortgage-backed securities, credit and EM debt funds. Markets need a negative policy or much weaker macro data for a meaningful September correction.

Nandan Chakraborty, Enam: Indian markets have been resilient in the last few months despite worsening global and domestic macro data, on hopes of further global easing and some domestic policy action, in the background of a stabilising earnings growth trajectory in Q1. Given the high valuations of the Indian market, we have turned even more defensive and also raised export sector allocations in our model portfolio.