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Indian shares falter; oil stocks hit by fading diesel hike hopes
July 25, 2012 / 10:19 AM / 5 years ago

Indian shares falter; oil stocks hit by fading diesel hike hopes

MUMBAI, July 25 (Reuters) - Indian main stock indexes fell on Wednesday as worries the government would delay a hike in diesel prices hit state-run oil companies and routed blue chips, since the step was seen as badly needed to reduce the country’s fiscal subsidy burden.

Hindustan Petroleum Corp dropped 1.2 percent. Among blue chips, recent outperformers were routed: Hindustan Unilever lost 2.5 percent a day after hitting record high.

The 30-share BSE index provisionally fell 0.43 percent to 16,846.05 points, while the 50-share NSE index declined 0.36 percent to end at 5109.60 points. (Reporting by Manoj Dharra; Editing by Rafael Nam)

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