Indian shares drop on oil prices and Fed rate fears
Indian shares declined in early trade due to higher crude prices and fears of U.S. rate hikes. HDFC Bank limited losses after its CEO announced plans to step down.
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Indian shares fell 0.68% on Monday morning as rising crude prices and potential U.S. rate hikes weighed on investor sentiment. The Nifty 50 dropped to 24,011.48 during morning trade, while the BSE Sensex shed 0.58% to 76,824.45. Markets faced additional pressure from an MSCI index rejig and the introduction of a new stock closing system.
