Indian shares fell Friday as the turmoil in Iraq pushed up global crude oil prices, raising worries that India’s import bill could go up and hurt the government’s weak financial position. The Bombay Stock Exchange’s 30-stock S&P BSE Sensex closed down 1.4% at 25228.17 points, while the National Stock Exchange 50-stock Nifty index ended 1.4% lower at 7,542.10 points. India imports about three-quarters of the oil it consumes and Iraq is among its top suppliers. Any increases in global crude oil prices push up the country’s import bill and also increase the subsidies it pays to local fuel retailers. “India is at a risk as all the fiscal control programs will go for a toss if oil prices rise further,” said Daljeet Kohli, head of research at IndiaNivesh Securities. Although markets have rallied in recent months, most of the gains have been on the back of […]