BUZZ — Indian shares slide on oil spike; financials drag on insurance overhaul worries

* Benchmarks Nifty 50 and Sensex drop 1% each after oil rises above $103-a-barrel on renewed Mideast tensions O/R * Banks, private banks and financials fall 1.6%-2%, PB Fintech on course for its worst session on record, after proposed insurance commission caps * Thirteen of 16 major sectors decline; broader small-caps and mid-caps slide about 1% * Iran's President Masoud Pezeshkian vows to never surrender, following a warning by US President Trump that he could "annihilate" Iran * Investors also monitoring Trump-Xi summit, which could have ramifications for global trade * National Stock Exchange lists at 0.84% premium over issue price; rises as much as 5% on debut (Reporting by Bharath Rajeswaran in Bengaluru) ((mailto:bharath.rajeswaran@thomsonreuters.com; +91 9769003463;)