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Shares dive as oil prices surge; Nifty falls most in four months

Shares dive as oil prices surge; Nifty falls most in four months

Tuesday, January 7, 2020, 8:00 AM

Indian shares fell on Monday as escalating U.S.-Iran tensions spiked crude, pulling the rupee lower and stoking fears of a higher-import bill for the worlds third biggest oil consumer. The NSE Nifty 50 index fell just over 2%, recording its worst intraday fall since Sept. 3 and hitting its lowest in nearly four weeks. The rupee was 0.3% weaker at 72.03 against the dollar.
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