Post Stock Market Commentary

Indian indices closed lower due to rise in inflation & oil price .The BSE 30-share Sensex ended down 78.52 points or 0.53% to 14,645.66.Domestic markets were weak in the opening session as inflation spiked to 12.44% keeping the investors worried about interest rates that are already at the highest in seven years. Weak Asian markets too weighed on the sentiments.India's rupee fell for a fifth day. BSE Sensex opened at 14,681.14 down by 43.04 points and Nifty opened flat at 4,430.70. The market breadth was negative on BSE with 930 shares advancing as compared to 1,668 that declined, 78 shares remained unchanged.The market moved between positive and negative zone today.Negative cues from European markets further dragged the indices lower. Oil & gas, metal, power and auto stocks were under selling pressure while technology stocks seen some buying intrest on higher doller.