Pre Stock MarketCommentary

The market extended losses as a bounce back in crude oil prices stroked fears of increase in inflationary pressures.It was another day in the red for bank, realty, capital goods and power stocks.Poor industrial growth, fall in car sales led the fall.The BSE Sensex and the S&P CNX Nifty settled below their psychologically important levels of 15,000 and 4,500 respectively.With the inflation at 12.44%, higher than the rate of 12.01% reported last week. After being nearly stable for four weeks, this rise has come as a major disappointment. RBI is likely to hike rates at least once more.Market is expected to open weak due to the higher inflation number and fears of a further rate hike.