The next triggers for the market

As per provisional data foreign institutional investors sold stocks worth Rs 108.5 crore while domestic funds bought shares worth Rs 56.44 crore today, 13 March 2008.

The next trigger for the market would come from the figures of advance tax payment by corporates for the fourth installment, which falls due on 15 March 2008.

Another major trigger for the market is outcome of the US Federal Reserve meeting on 18 March 2008 to review interest rates. A cut in interest rate, as expected by the street may provide some support to the markets. Fed Chairman Ben Bernanke had signaled a readiness to cut interest rates again to prevent further damage to the weak US economy, even as he took note of rising inflation risks.

As per data released by the government on12 March 2008, growth in

Index of Industrial Production (IIP) slipped to 5.3% in January 2008 as compared with 11.6% in January 2007, the lowest since October 2006, when it stood at 4.51%. Growth in the manufacturing sector declined to 5.9% in January 2008 as against 12.3% in January 2007.

Crude oil hovered near Wednesday (12 March 2008)'s record high of $110.20 per barrel.