CAIRO (dpa) – Indian stocks fell 2.7 per cent on Monday on concerns that surging crude oil prices could lead to higher inflation and a weaker global economy. The benchmark 30-share index of the Bombay Stock Exchange or Sensex fell 477.82 points or 2.67 per cent to close at 17,445.75. The broader 50-share S&P CNX Nifty of the National Stock Exchange dropped 148.10 points or 2.73 per cent to 5,281.20 as most of the blue-chip stocks fell. Market analysts told the online edition of the Business Line daily that there was heavy selling on concerns that higher global oil prices would fan inflation as India imports over 80 per cent of its oil. Asian markets also closed lower on Monday on worries that the oil prices could hit global growth. BM ShortURL: http://goo.gl/HB1IE Tags: India, Oil Prices, Stock Exchange Section: Business, Latest News, South Asia
