Here are experts equity calls for the day on how the markets are expected to trade:
Michael Kurtz, Nomura: Regional stocks are usually positively correlated with oil prices, as global demand supports both. In our 'ugly' upside scenario, however, energy would be the only cyclical sector worth owning while Utilities won't be attractive. Countrywise, we would favour China, Malaysia and Indonesia & would avoid India, Korea and Thailand.
Chris Wood, CLSA: The risk in staying with the "risk on" trade is growing in the sense that markets have already rallied a lot. The fundamental backdrop in America, Europe and Japan remains deflationary which is not positive for equities. We are not yet ready to give up on India, the hope must be that the noise generated by the confirmation of slower growth will have set off sufficient alarm bells to generate a more pro-active policy response from Delhi. This year's budget announcement, scheduled March 16, will be for more important than usual.
