Indian Shares Extend Slump For Third Day; IT Stocks Worst Hit

Indian shares fell for a third straight session as stalled U.S.-Iran peace talks and the effectively closed Strait of Hormuz pushed oil prices toward $107 a barrel. The shock is negative for risk assets, particularly emerging markets like India, due to higher imported energy costs and broader geopolitical uncertainty. Benchmark indexes Sensex and Nifty extended losses in a clear risk-off move.

Analysis

Indian shares fell for a third straight session as stalled U.S.-Iran peace talks and the effectively closed Strait of Hormuz pushed oil prices toward $107 a barrel. The shock is negative for risk assets, particularly emerging markets like India, due to higher imported energy costs and broader geopolitical uncertainty. Benchmark indexes Sensex and Nifty extended losses in a clear risk-off move.