The unrest is hitting the economy: hotel reservations are down, retailers are suffering, unsettling investors, and Total said some of its filling stations were running dry.

Petrol price was cut by 25 paise a litre and diesel by 17 paise, according to the price notification of state-owned oil firms.

In an unexpected move, the Monetary Policy Committee of Reserve Bank of India (RBI) on Friday kept the repo rate unchanged at 6.5 per cent. The MPC changed the stance from 'neutral' to 'calibrated tightening'

The Reserve Bank of India's (RBI) monetary policy committee (MPC) will announce its key policy decision later this afternoon.

The share prices of the state-owned OMCs, which had tanked 10.5-12.23% yesterday following the announcement, are yet to recover. BPCL (down 22.55%) and HPCL (down 21.35%) were reportedly among the top losers in opening trade this morning.

While the Sensex closed 536 points or 1.46% lower to 36,305, the Nifty lost 175 points or 1.58% to trade at 10,967 level. This is the weakest closing since July 11 when it settled at 36,265.93. The Sensex has lost 1,249.04 points in the previous four sessions.

The court said that the fuel price is a matter of national policy, any orders will have ramifications.

While several measures have been suggested to contain the rupee fall which has depreciated nearly 13% since the beginning of this year, you will be surprised to know that the Indian currency is not the only one to lose major ground due to geopolitical and fiscal factors.

The party tweeted the two graphs on the day 21 opposition parties led by the Congress held a nation-wide 'Bharat Bandh' to protest over fuel prices. But, hilariously, both the bar graphs ended up depicting a \"fall\" in prices.

If the hike in fuel prices has weighed on your wallet, then you should brace for another bad news. Consumers in India will soon have to shell out more on daily use products.

Later, the yields rally lost steam and the bond yield fell to 7.931% at 12:26 pm. The rise in yields comes two days after the monetary policy committee raised repo and the reverse repo rate each by 0.25%. The 10-year bond yield closed at 7.917% rising 1.06% on June 6, the day when the central bank raised key rates.

Unless the IndianOil Corporation has goofed up again, the price drop in petrol is now 7 paise per litre and diesel is down 5 paise.

Rahul Gandhi asked if the price cut of 1 paisa was a prank and said that it was in poor taste.