Banks key beneficiary of favourable poll outcome: Nomura

Here are experts’ equity calls for the day on how the market is expected to trade:  Prabhat Awasthi, Nomura: Banks are the key beneficiaries of the recalibration of market expectations regarding a favourable election outcome and benign inflation data. The key feature of the market rally over the past week has been the outperformance by high-beta and domestic-cyclical sectors such as banks, real estate and capital goods that had been laggards since the beginning of 2013.

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Adrian Mowat, JP Morgan: Diverging trends are emerging. Old China is in a bear market but this is not suppressing rallies in ASEAN, India and new China. Korea remains a high conviction overweight market due to its exposure to accelerating global growth. We expect the Indian markets to discount a stronger economy ahead of the general elections.