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via rediff.comEconomy

Sensex and Nifty close lower after three-day rally as inflation hits 6.09%

FROM THE WIRE · REDIFF.COM

Indian benchmark indices Sensex and Nifty closed lower, snapping a three-day rally, as retail inflation surged to 6.09 per cent in October, breaching the RBI's upper tolerance limit and prompting economists to anticipate a policy rate hike next month.

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishInflation above the RBI tolerance band may anticipate a rate hike that weighs on Indian equities.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01India's retail inflation rose to 6.09% in October.
  2. 02The figure breaches the RBI's upper tolerance limit.
  3. 03Economists anticipate a policy rate hike next month.

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