Corporate balance sheets seem much stronger: Morgan Stanley

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

Ridham Desai, Morgan Stanley: We know from 2008 that even though India's earnings are relatively resilient, its stock markets might not be in the event of a funding crisis. 2011 looks perceptibly different from 2008. The trailing capital flows are significantly lower, consensus expectations seem moderate, market is positioned for bearish outcome and corporate balance sheets seem much stronger. Willem Buiter, Citigroup: We are again cutting our 2011-2012 GDP growth forecasts for many countries, including the Euro Area, UK, Japan, US and Canada. We expect early sovereign debt restructuring in the Euro Area & it could slip into recession in coming quarters.