JPMorgan overweight on private banks, capital goods

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

Bharat Iyer, JPMorgan: Aggregate earnings growth of 11% for the Sensex companies was only marginally lower than our estimates. For FY12, we estimate 15% earnings growth compared to consensus estimates of 19%. We remain Overweight on private sector banks, capital goods & telecom and Underweight on consumption plays.

Jason Todd, Religare: We think markets are already in a period of lower long-term growth expectations where there is limited scope for multiple expansion. The spill-over is a chase for capital returns with Asia and EMs becoming even more attractive as the relative return potential diminishes in the West.