Indian share prices ended flat on Wednesday, as inflation and oil price concerns weighed the market down, dealers said. They said oil and gas stocks rose as crude oil prices surged to record highs. The benchmark Mumbai 30-share Sensex rose 12.98 points or 0.08 percent to 17,243.16.
Dealers said sentiment was impacted by local inflation, which has risen to a three-and-a-half year high of 7.83 percent for the week ended May 3 in data reported on Friday. "The markets could remain rangebound in coming weeks, as quarterly corporate earnings ahead could be impacted by rising commodity and input costs," said Naresh Garg, chief investment officer with private sector Sahara Mutual fund.
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