Equity market should move 10% higher: Deutsche Bank

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

Ajay Kapur, Deutsche Bank: We think equity markets should move 10% higher by year-end. Valuations are fine, economic growth reasonable and positive margin surprises are a lot more likely. Strong technicals, abundant liquidity & M&A cycle also support sentiment. Weak seasonality and dollar's reversal are key risks in the near-term.

Nandan Chakraborty, Enam: Near-term market moves would depend on movements in oil and dollar. In the medium term, the unlikelihood of further QE would put a floor under the dollar, which may arrest the flight of capital towards EMs/ commodities. However the rupee's appreciation may catalyse inflows to India in H2. The most defensive stocks in such an environment would be ICICI Bank, HDFC Bank, Mundra, ITC, TCS, HCL Tech, Coal India, Lupin, Power Grid, Bharti now.