Indian shares up

Indian share prices rose 0.52 percent on Thursday shedding morning gains after European markets opened weak led by Wall Street losses overnight, dealers said. They said sentiment however continued to be weighed down by local inflation concerns.
The benchmark Mumbai Sensex rose 82.15 points to 15,832.55, off the day's high of 16,002.73. Fund managers are concerned that interest rates may be hiked later this month to contain inflation which hit a 13-month high of 6.68 percent last week. "The markets are likely to remain rangebound in the absence of overseas fund buying," said Hiten Mehta, a fund manager with Fortune Financial Services.