Inflation surges to 11.42%, BSE Sensex crashes

The inflation rate continued its upward turn, as it reached a 13-year high of 11.42% during the week ending June 14. During the previous week, it was 11.05%. The rise was triggered by a sharp increase in wholesale prices and food commodities.

Meanwhile, the BSE Sensex crashed by 4.3 percent to close at 13,802, down by 620 points. Shares of banking, auto, power, metal, realty, public sector companies, IT and capital goods lost heavily during the mayhem at Sensex. The index fell after global crude oil prices reached an all-time high of $141.71 a barrel. Other Asian stock markets too witnessed a sharp decline during the day's trade.