Global environment remains challenging: JPMorgan

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

Abhay Laijawala, Deutsche Securities: The dynamic interplay of weak macro fundamentals on the one hand coupled with central bank injections of liquidity at regular intervals has compelled investors to become reluctantly bullish. In the current environment, investors may need to shed long held dogmas on valuations. We expect companies and sectors, displaying sustainable earnings momentum, to see expansion in valuations, in many cases, beyond recent historical highs. Bharat Iyer, JPMorgan: We remain constructive on Indian equities over the medium-term, but advocate exploring hedging strategies. The current political environment puts a question mark on market's reform expectations being met, the global environment remains challenging too. However, we believe valuations at 12x 1-yr forward earnings leave enough room for investors to chase markets once the roadmap for reforms is established, even if the initial upside is missed.