(RTTNews) – Indian shares opened lower on Thursday, extending losses from the previous session after Iran seized two commercial vessels in the Strait of Hormuz, escalating tensions in the region.
Brent crude prices surged toward $104 a barrel as the U.S.-Iran remained locked over the control of the Strait of Hormuz.
The benchmark BSE Sensex was down 402 points, or half a percent, at 78,114 in early trade, while the broader NSE Nifty index edged down by 90 points, or 0.4 percent, to 24,288.
Kotak Mahindra, ICICI Bank, IndiGo, Bajaj Finance, Asian Paints, Mahindra & Mahindra, Tech Mahindra and Trent fell 1-2 percent.
Infosys was down about 1 percent ahead of its earnings release later in the day.
L&T Technology Services declined 1.2 percent on reporting a modest 7 percent rise in Q4 net profit.
Lemon Tree Hotels dropped 1 percent after signing two new properties in Raipur and Jalandhar.
VA Tech Wabag fell 1.3 percent after establishing a new subsidiary company for wastewater treatment business.
Eveready Industries was down 1.6 percent after commissioning an alkaline battery plant in Jammu at an investment of around Rs. 200 crore.
Alembic Pharma gained 1 percent on setting up a new subsidiary in Philippines.
Delta Corp soared 7 percent and Oracle Financial Services jumped 6 percent after declaring their quarterly results.
Jio Financial Services advanced 1.7 percent after it formed a joint venture with Alliance for general insurance and health insurance.
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