Aditya Narain neutral on auto, real estate

Here are some of expert views on how the equity market is expected to behave in the near term:

Aditya Narain of Citi said that, "We believe the general elections are a bigger market event than an economic event. While election results remain uncertain and challenging to call, we retain our December 2014 Sensex target at 21,800."

"We have raised risk in the model portfolio. We have a big overweight on IT and pharma; small overweight on financials, industrials and telecom, neutral on auto and real estate, underweight on consumers, materials and utilities, with mid-cap appetite," he said."

Abhay Laijawala of Deutsche Equities said that, "While we concede that it may be too early to expect any sharp economic turnaround, we believe that the worst is over. We expect banks, oil & gas companies, infrastructure and cement sectors to outperform. Our top picks in domestic cyclicals include Axis Bank, ICICI Bank, PNB, Bank of Baroda, L&T, RIL and BPCL among others."