Indian shares down

Indian shares fell 0.54 percent on Monday in choppy trade as crude oil prices rose and Asian markets slipped, dealers said. The benchmark 30-share Sensex index fell 78.82 points to 14,577.87, snapping a three-day rally. "Weak Asian markets and rising oil prices raised fresh inflationary concerns," said a dealer with brokerage Jamnadas Morarjee.
India's annual inflation accelerated to 11.98 percent for the week ending July 19, up from 11.89 percent a week earlier, data released last Thursday showed. The inflation rise came after India's central bank earlier in the week aggressively hiked its key short-term lending rate in a bid to tame inflation, a move that economists said would further slow the economy.