Market under selling pressure; Realty, banks worst hit

Equities were witnessing sharp correction Thursday as investors booked profits in interest sensitive sectors following rise in oil prices.

Crude oil bounced back to $117 per barrel after gain of $3 in previous day's trade, re-kindling fears of inflationary pressure.

Traders were avoiding fresh positions ahead of the extended week-end and inflation data, which is pegged to be above 12 per cent for early August, was also awaited.