Indian shares open lower as oil tops $91, US-Iran ceasefire expires
INDA•Indian shares open lower on oil and ceasefire concerns
Aug. 18 (Reuters) - Indian shares opened lower on Tuesday as a temporary U.S.-Iran ceasefire expired and hopes for a deal faded, keeping oil prices above $91 a barrel.
Iran's indication that it could adopt a more offensive posture and U.S. President Donald Trump ruling out an extension to the ceasefire arrangement have intensified concerns over potential disruptions to energy supplies.
The prospect of sustained higher crude prices could also rekindle inflation worries for India, the world's third-largest oil importer. O/R
The Nifty 50 .NSEI fell 0.26% at 24,223.85 and the BSE Sensex .BSESN lost 0.40% to 77,418.97, as of 9:15 a.m. IST.
Eleven of the 16 major sectors declined at the open. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 shed 0.1% each.
