Markets Weekahead: Shares seen recovering; finmin assurance to help

Sat Mar 2, 2013 4:41am IST

A trader is reflected onto a glass panel with an illustration showing the nature of the stock market during the announcement of the annual budget at the Motilal Oswal trading floor in Mumbai February 28, 2013. REUTERS/Vivek Prakash

A trader is reflected onto a glass panel with an illustration showing the nature of the stock market during the announcement of the annual budget at the Motilal Oswal trading floor in Mumbai February 28, 2013.

Credit: Reuters/Vivek Prakash

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A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

Ganesh Chaturthi Festival

During Ganesh Chaturthi idols will be taken through the streets in a procession accompanied by dancing and singing, and will be immersed in a river or the sea in accordance with Hindu faith.  Slideshow 

Reuters Market Eye - Indian shares are seen recovering losses sustained in the run-up to and after Thursday's budget as the market's focus shifts back to earnings and the central bank's rate meeting on March 19.

Clarification on the tax residency issue, which in part led to the budget day selloff, is also seen calming overseas investors. (Read Chidambaram's clarificatihere)

Also on watch, aviation stocks as the regulatory body on foreign investment meets on Wednesday to consider a proposal by AirAsia Bhd (AIRA.KL) to invest in an airline joint venture with the Tata group.

On the global front, a host of central banks meet next week including ECB, BOJ, BoE and RBA on policy.

KEY FACTORS/EVENTS TO WATCH

Tues: Feb Services PMI at 10:30 a.m. IST

Wed: Money Supply data at 3 p.m. IST

(Reporting by Abhishek Vishnoi)

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