India stocks open lower as oil rises on US-Iran Strait of Hormuz talks stalemate
Nifty 50 fell 0.33% to 23,064.9 and Sensex lost 0.22% to 73,734.83 by 9:15 a.m. IST as Brent futures rose about 2% to $106.5/bbl after Trump rejected an Iranian proposal.
(Updates for markets open) Sept 28 (Reuters) — Indian shares opened lower on Monday, with investors remaining cautious after the benchmark indexes' longest weekly losing streak since 2020 as oil prices rose following a stalemate in US-Iran peace talks. US President Donald Trump said he had rejected an Iranian proposal to reopen the Strait of Hormuz and end fighting, while Iran insisted on Sunday that only diplomacy can solve its conflict with the United States and Israel. m. IST.
Fourteen of the 16 major sectors logged losses. 2% each. 2%. MKTS/GLOB India, which is the world's third-largest crude importer, remains vulnerable to higher prices as they can stoke inflation, raise the import bill, and drag corporate margins.
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