Markets

Indian stocks fall as federal budget disappoints

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Oil explorers such as Oil & Natural Gas, Oil India and Cairn India were among the leading decliners after the budget proposed raising cess on crude oil to 4,500 rupees per tonne from 2,500 rupees per tonne.

The main 30-share BSE index provisionally fell 1.3 percent. The 50-share Nifty index fell a provisional 1.2 percent.

Copyright Reuters, 2012