Expect RBI to raise rates by 25 bps on June 16: ENAM

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

Nandan Chakraborty, ENAM: Growth concerns in the US weighed on global markets and the dollar. We expect the RBI to raise interest rates by 25 bps in its policy review on June 16 and a further 25 bps in subsequent policy before pausing. The near-term portfolio strategy should avoid both ends of the spectrum, i.e. over-valued FMCG or cheap rate-cyclicals. Manoj Singla, Religare: We remain positive on the markets with a revised Sensex target of 22000 for December end as the Indian economy adjusts to a high growth, high inflation trajectory. We are overweight autos, banks, telecom, infra and real estate and Underweight metals, utilities, cement and NBFCs.