Equities are likely to remain subdued Friday as weak global cues, rise in crude oil prices coupled with inflation topping the 12 per cent mark will weigh on sentiment.
The wholesale price index for the week ended July 26 was at 12.01 per cent, a marginal 0.03 per cent increase over that recorded in the previous week, even as the finance ministry said that the rate of price rise was stable on a week-on-week basis. Experts feel more upside in inflation is likely before it moderates
Asian markets were also trading lower tracking Wall Street losses, bringing the credit crisis and economic slowdown back into focus. The Nikkei shed 0.5 per cent, the broader Topix fell 0.87 per cent, Straits Times was down 0.2 per cent while Hang Seng edged 0.46 per cent higher.
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