A number of events and data are scheduled today which will impact the bourses today. The market has been on a roll on the back of robust FII inflow. But correction in Asian markets today may trigger correction on the domestic bourses as well.

Reliance Industries (RIL) holds its annual general meeting (AGM) today, 12 October 2007. Expectations have been running high about RIL declaring bonus or stock split in the AGM. If expectations of stock split or bonus from RIL are belied, the market may edge lower given that RIL is a heavyweight in the two key indices Sensex and Nifty.

The government will unveil industrial production data for August 2007 today. The data is expected to hit the market at about 12:00 IST. The industrial production growth was at annual 7.1% in July 2007.

The data on wholesale price based inflation for the year through 29 September 2007 is also due at about 12:00 IST today. Inflation moved up 3.42% in the week ended 22 September 2007 from 3.23% in the week ended 15 September 2007.

The market has been a roll with the Sensex hitting record highs almost every day since the past few days. Heavy FII buying and hopes of a further cut interest rates by the US Federal Reserve has boosted bourses.

As per provisional data, FIIs bought shares worth a net Rs 795 crore on Thursday, 11 October 2007. Domestic institutions sold shares worth a net Rs 420 crore on that day.

Asian stocks edged lower today. Key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were down by between 0.6% to 2.4%.

On Wall Street on Thursday, 11 October 2007, Bidu tumbled 10% after JPMorgan cut its third quarter revenue target, spurring concerns that the recent US tech rally may be coming to a close. The tech-heavy Nasdaq Composite Index lost 39.41 or 1.4% at 2,772.20, while the blue-chip Dow which hit an intraday record high earlier, settled 63.57 points or 0.45% lower at 14,015.12.

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