Market may recover

The market may recover after yesterday's (2 March 2009) steep slide caused by worries over the global economy. The triggered for an intraday rebound will recovery in Asian stocks after an initial slide. Shares of car makers, two-wheeler makers and cement shares may rise on decent to strong growth in sales/dispatches in the month just gone by.

Expectations of a rate cut by the Reserve Bank of India (RBI) remain with the latest foreign trade data providing further proof that the Indian economy is slowing down. Exports fell 16% in January 2009, falling for the fourth month in a row, data released by the government during trading hours on Monday, 2 March 2009, showed.

Japanese stocks came off early lows on indications public funds were supporting the market. The Nikkei 225 average was down just 0.28%. It was down about 1% just a while ago.

High US index futures aided recovery in Asian stocks from lower level. Trading in US index futures showed the Dow could rise 78 points at the opening bell.

April 2009 Nymex crude oil futures
were down five cents at $40.10 a barrel on Globex, after sliding $4.61 or 10.3% in New York.