ICICI, Hindalco, Reliance are Election picks: Barclays

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

Bhuvnesh Singh, Barclays: It is tempting to attribute the rise in Nifty to investor expectations of NDA win in the upcoming general elections; however, fact is that within the index, external-focused sectors like IT and pharma and stocks like Tata Motors, Tata Steel, Hindalco have outperformed whereas domestically focused sectors/stocks have either remained flat or lagged. Our key election stock picks include ICICI Bank, Hindalco, Shree Cement, Reliance Industries and Ashok Leyland.

Also Read - Nifty target at 7200-7500; bullish on banks: Geosphere

Chris Wood, CLSA: The focus of markets last week was primarily on the biggest daily depreciation of the renminbi since December 2008. Greed & Fear believes the currency move appears to have been instigated by the People's Bank of China (PBOC) in an effort to demonstrate that the carry trade was not without risk. The manoeuvre has worked for now. In India, we increase existing investment in Titan Industries by 1 percentage point.