Indian shares dropped in see-saw trade on Monday on concerns over the impact of rising interest rates and high inflation after a rebound in global crude oil prices and firm commodities markets. Traders said the stock market was unable to sustain gains from Friday's rise as investors worried corporate earnings may be hurt in coming quarters due to higher borrowing costs, with a likely fuel price hike this week adding to the unease.
A ministerial panel is expected to meet on May 11 to decide on a fuel price increase. While petrol prices are unregulated, diesel and cooking fuel prices are controlled by the government in India.
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