Mumbai, Nov 14 (PTI) The Sensex today dropped by 92

points to end at three-week low of 32,941.87 points after

retail inflation hitting a seven-month high in October

dampened expectations of a rate cut by the Reserve Bank.

Besides, inflation at the wholesale level too rose to

six-month high of 3.59 per cent in October as the prices of

food articles rose.

Lower trend at other Asian following a tepid lead from

the Wall Street prompted participants to trim their holdings.

Sentiments suffered a jolt after retail inflation climbed

to 7-month high in October, dampened hopes of a cut in

interest rates by the Reserve Bank at its upcoming policy meet

early next month, brokers said.

The BSE Sensex after a better start at 32,990.03, quickly

regained the key 33,000-mark to hit a high of 33,126.55 on

value-buying at select counters and recovery in the rupee at

the outset.

However, emergence of selling at every rise wiped off

initial gains and the index finally settled 91.69 points, or

0.28 per cent down at 32,941.87, its weakest closing since

October 26.

The broader 50-issue NSE Nifty dropped 38.35 points, or

0.38 per cent, to close at 10,186.60 after shuttling between

10,248 and 10,175.55.

This is published unedited from the PTI feed.