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India shares fall as rising crude oil prices fan inflation concerns

Fuel retailers decline while Oil and Natural Gas gains

MUMBAI (NewsRise) -- Indian shares fell Tuesday, paced by losses in lenders and fuel retailers, as crude oil prices climbed to more than two-year highs.

The benchmark BSE Sensex declined 0.7% to 33,227.99 and the Nifty 50 Index dropped 0.8% to close at 10,240.15. Hindustan Petroleum lost 4%, and Indian Oil Corp. and Bharat Petroleum declined by 2.2% or more as Brent crude rallied past $65 per barrel to its highest since June 2015. Oil and Natural Gas Corp., India's largest energy explorer, jumped 2.3%.

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