Wary investors were offloading positions after oil prices rebounded and ahead of inflation data to be out in the evening. All the sectoral indices were in the red with major crack in banks and real estate stocks.
Crude oil prices moved higher international market to over $116 per barrel on concerns of supply disruption. Rupee also recovered from lows after the dollar turned weak against other currencies. However, the rupee appreciation will be capped to higher oil prices.
Inflation for the week ended August 9 is expected to touch 12.66 per cent against previous week’s 12.44 per cent.
Thursday, August 21, 2008
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