REUTERS - The BSE Sensex and Nifty fell more than 1 percent, retreating from record highs hit earlier in the week. Oil and gas stocks fell as Brent crude surged to nine-month highs amid concerns that escalating violence in Iraq could disrupt oil supplies.
HPCL slumped 9.3 percent, IOC lost 8.9 percent and BPCL fell about 7 percent.
In the BSE realty index, DLF was down over 7 percent. The BSE IT index is 0.21 percent higher, with Infosys trading up 0.7 percent.
The new government got the best news on the economy in a year on Thursday, as industrial growth rebounded and retail inflation dropped to a three-month low, signs of an economic revival that could offset the threat of patchy summer rains.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app