Indian shares closed one percent lower on Thursday as global markets weakened and concerns grew ahead of local inflation data to be released later in the day, dealers said. The benchmark 30-share Sensex index fell 150.76 points to 14,899.1.
"Weak Asian markets and concerns over rising oil and inflation pressures kept investors from building fresh positions," said a dealer with brokerage Prabhudas Lilladher. Last Thursday, India's inflation decelerated to a thirteen-year-high of 12.4 percent for the week to August 16, against 12.63 percent the previous week. Energy and power stocks fell on the eve of a meeting of the 45-nation Nuclear Suppliers Group (NSG) which must give its unanimous thumbs up for India's landmark nuclear deal with the US to be implemented.