Sensex wilts as wary markets await RBI meet

Sensex wilts as wary markets await RBI meet

November inflation numbers came in at 9.11 vs 9.73 per cent (MoM) and 8.2 per cent (YoY).

The food inflation tumbled to 8.54 per cent in November from more than 11 per cent in October, while fuel inflation increased to 15.48 from 14.79 per cent and manufacturing inflation increased marginally, to 7.7 from 7.66 per cent. The above expected inflation numbers has created fears of rate hike by the RBI on the monetary policy to be announced on Friday.

Data showing selling by foreign funds recently and weak European shares also dampened investor sentiment in D-Street. Further, the rupee hits yet another low this day to 53.72 per dollar amid continuing capital outflows and further appreciation of the currency against its major rivals, especially euro.

The popular Sensex at BSE, fell below the psychological 16,000 mark, having alternately moved above and below that mark in intraday trade. The 50-unit S&P Nifty at NSE settled at its lowest level in more than 2-1/2 weeks.

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