Add Axis, ICICI, Wipro, OIL to portfolio: Morgan Stanley

Here are experts’ equity calls for the day on how the market is expected to trade:

Ridham Desai, Morgan Stanley: A new growth cycle in India hinges on the election results and ensuing policy action. Paying a higher price today based on favorable outcomes makes the risk-reward unfavourable. We are 200 bps underweight on consumer staples, add this to healthcare. We add 100 bps to our overweight on energy and trim industrials to a 200 bps underweight. We add Axis Bank, ICICI Bank, Wipro and Oil India to our portfolio at the expense of HDFC, TCS, Maruti Suzuki and Dabur India.

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Tobias Levkovich, Citi: Recent events in the Ukraine could unsettle euphoric markets but should not be that disruptive. News of Russian troops taking up positions in Crimea and surrounding Ukrainian military installations has escalated risks. This comes at a time when investor sentiment is giddy with S&P 500 hitting new highs. Barring a breakout of major hostilities though, a severe decline in share prices seems rather unlikely.