Nov inflation spooks mkt; RBI may remain mute spectator

Markets tumbled as November inflation disappointed the street. The Nifty falls below 4800 pulled lower by the sharp slide in banking stocks. The market breadth too turned sticky.

Meanwhile, the macro gloom continued with November inflation comes in way above the CNBC-TV18 poll at 9.11% led by higher fuel and manufactured product prices...bond yields spike up by 5 bps.

And there is no respite for the rupee. The currency hit a fresh all time low on dollar's strength globally and all round dollar buying in India. Macquarie said the currency may find good support at 55 but won't rule out 56-57.

CLICK TO HEAR moneycontrol.com's Santosh Nair and Shishir Asthana, Investment Editor, firstpost.com, discuss the markets.