MUMBAI (Reuters) - India's benchmark 10-year bond fell sharply, sending the yield up 6 basis points, while the rupee and shares weakened on Wednesday after higher-than-expected consumer price inflation data raised worries about potential central bank rate hikes.
The benchmark 10-year bond yield was up 5 basis points at 7.24 percent by 0346 GMT while the partially convertible rupee was trading at 64.53 per dollar versus its previous close of 64.40.
The broader NSE Nifty was down 0.2 percent.
Data late on Tuesday showed inflation accelerating to 4.88 percent last month from a year earlier, hitting a 15-month high and breaching the Reserve Bank of India's 4 percent target.
(Reporting by Swati Bhat; Editing by Rafael Nam)
Disclaimer: No Business Standard Journalist was involved in creation of this content
