Mid Day Stock Market Commentary

The benchmark index extended losses with Sensex hitting new intra-day low in the afternoon trade.Interest sensitive sectors were down on inflationary concerns.Asian markets were lower on fears the US government will have to rescue the mortgage finance companies Fannie Mae and Freddie Mac.Lower crude oil prices to nearly USD 112 a barrel also had no positive impact on markets.The market breadth was weak on BSE with 816 shares advancing as compared to 1,591 that declined. 96 shares remained unchanged.