Losses in banking, finance and energy shares dragged the key indices lower
- At 9:21 am, 26 stocks on the 50-scrip National Stock Exchange benchmark index were trading in the negative zone.
- Top losers on the Nifty 50 were shares of state-run oil marketing companies Indian Oil, Hindustan Petroleum and Bharat Petroleum trading around 3-4 per cent lower.
- Global crude oil prices jumped back to near three-and-a-half-year highs after Mr Trump's announcement on Tuesday.
- A rise in global crude oil prices makes imports costlier for state-run oil marketing companies such as Indian Oil. India imports the bulk of its energy requirements.
- ICICI Bank shares, which had risen more than 11 per cent in the past four sessions, fell 1.5 per cent.
- Shares in other Asian markets fell, as renewed US sanctions on Tehran were seen as disruptive for many companies that have deals with Iran.
- US President Donald Trump's move is also seen as risking worsening already-tense relations between Iran and US allies in the region.
- Mr Trump has been rooting against Iran's nuclear enrichment since the days of his campaigning for presidential elections in November 2016.
- Iran, the third-biggest producer among OPEC member countries, produces about 4 per cent of the world's oil supplies.
- The BSE Sensex had closed 8 points higher at 35,216 on Tuesday, rising for a second straight day, while the NSE Nifty held the 10,700 mark.
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