Indian shares slide to three-month low on oil surge
Indian shares dropped to a three-month low on Friday amid a broad-based sell-off driven by rising oil prices. Intensifying conflict in the Middle East pushed Brent crude past 108 dollars, raising inflation concerns.
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India shares slid to a three-month low on Friday morning in a broad-based sell-off as intensifying Middle East conflict pushed Brent Crude Oil past $108 per barrel. The Nifty 50 dropped 0.92% to 23,261.7 and the BSE lost 0.84% to 74,272.61, hitting their lowest levels since June 11. Fifteen of the 16 major sectors fell as rising energy costs inflamed inflation risks.
