Indian share prices fell 1.27 percent on Thursday as investors unwound positions while awaiting crucial inflation data Friday, dealers said. They said sentiment was hit by reports the government was set to decide later Thursday on hiking fuel prices and ease mounting losses for state-run oil firms, which sell diesel and petrol below cost as part of a government subsidy.
The benchmark Mumbai 30-share Sensex fell 209.11 points to 16,316.26. Dealers said investors also unwound positions at the expiry of the monthly futures market contract on Thursday.
Last Friday, revised inflation data for India showed a jump to eight percent in March for the first time in three-and-a-half years, dealers said. "Volatility rose as investors are still unsure of global trends," said a dealer with private sector Sahara Mutual fund.
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