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Indian shares were expected to remain under pressure due to uncertainty over the revised bailout package for the troubled US financial sector, dealers said.
The possibility of more global banks running into trouble had not been ruled out and this continued to impact local banking and finance shares despite the limited exposure of Indian banks to US-linked credit, dealers said.
Sentiment also remained weak on concerns about margins for India companies, which report quarterly earnings later next week. India's second-largest software giant Infosys Technologies will report earnings next Friday.
For the week to October 3, the benchmark 30-share Sensex index fell 4.39 percent, or 575.86 points, to 12,526.32, its lowest closing for 17 months.
"The outlook remains weak even though crude oil prices have eased and markets are expected to test a new low very shortly," said Alex Mathew, head of research at brokerage Geojit Financial services. The markets were ignoring inflation pressures, which appeared to have eased, dealers said.
India's inflation rate fell to 11.99 percent for the week ended September 20 from 12.14 from the previous week, according to the Wholesale Price Index - India's most watched cost-of-living monitor. However, the level was considerably above the central bank's target of seven percent by March-end 2009.

Copyright Agence France-Presse, 2008

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