Indian shares closed lower on Thursday, dragged down by most sectors except IT. Rate-sensitive IT firms rose on expectations of a US Fed rate cut next week following in-line US inflation data. However,

Equity market indices Sensex and Nifty close lower due to selling in major stocks, caution ahead of inflation data.

"Markets closed slightly lower on the weekly expiry day, shedding nearly half a per cent amid mixed signals. The market awaits a fresh catalyst to resume its rebound, while rotational buying in key sectors like IT and banking keeps recovery hopes alive," Ajit Mishra - SVP, Research, Religare Broking Ltd, said.