BSE Sensex to drop; ONGC, cement firms watched

New Delhi : NEW DELHI (Reuters) - The BSE Sensex is set to fall on Thursday as investors brace for more monetary tightening to control high inflation in Asia's third-largest economy. The market has been under pressure after a hefty 50 basis points rate increase on Tuesday and Finance Minister Pranab Mukherjee said a day after the government would support the Reserve Bank of India's battle against inflation and indicated the rate hike cycle was yet to be over.