Sensex below 33,000 as inflation data dashes rate cut hopes

The yield on the benchmark 10-year government security rose to as much as 7.07 per cent

Indian markets fell for a consecutive day after accelerating inflation tempered expectations of a rate cut by the Reserve Bank of India (RBI). The 30-share BSE Sensex fell 91.7 points, or 0.3 per cent, to close at 32,942. It closed below 33,000 for the first time since October 24. The National Stock Exchange’s Nifty 50 lost 38 points, or 0.4 per cent, to end at 10,186.6.

India’s retail inflation grew 3.58 per cent last month, government data showed on Monday, driven by a faster rise in prices of food and fuel products. Experts said the inflation figure could accelerate further, amid