Indian share prices closed down 0.17 percent on Friday, snapping four straight days of gains as investors took profits after a sharp rally led by global trends, dealers said. They said the markets may weaken next week on expectations of a local rate hike, with inflation figures Friday showing prices still above the central bank's comfort level.
The 30-share Mumbai stock exchange Sensex index fell 22.1 points at 13,285.93, having risen 855 points or 7.06 percent Thursday. India's inflation rate held steady at 6.46 percent, official data showed Friday, suggesting that a rate hike cannot be ruled out.
"The markets came off its early gains with investors booking profit after a sharp rise. There are concerns of a rate hike next month," said Advait Date, dealer with brokerage BHH Securities.