Fund flow in EM equities likely to moderate further: Nomura

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

Ian Scott, Nomura: EM equities have underperformed their developed market peers in recent weeks. But fund flow is likely to moderate further and we believe there is further to go before an attractive entry point is reached and retain our Underweight recommendation on emerging markets. Nandan Chakraborty, ENAM: FOMC's Operation Twist could accentuate risk-aversion, exacerbate pressure on rupee, dampen commodities including crude and alleviate interest rate pressure on RBI. We are Overweight pharma, power utilities, telecom and consumer stocks while Underweight auto, cement, engineering, IT services, realty and oil and gas, excluding OMCs.