{"id":720,"date":"2026-05-12T05:51:02","date_gmt":"2026-05-12T05:51:02","guid":{"rendered":"https:\/\/dailypakistannews.com\/?p=720"},"modified":"2026-05-12T05:51:02","modified_gmt":"2026-05-12T05:51:02","slug":"indian-shares-extend-fall-rupee-at-record-low-as-mideast-deal-optimism-fades","status":"publish","type":"post","link":"https:\/\/dailypakistannews.com\/?p=720","title":{"rendered":"Indian shares extend fall, rupee at record low as Mideast deal optimism fades"},"content":{"rendered":"

Indian shares<\/strong> <\/a>extended losses and the rupee slid to a record low on Tuesday, weighed down by elevated crude prices, as fragile negotiations to end the Iran war fuelled concerns over global supply and economic fallout.<\/strong><\/p>\n

The Nifty 50 was down 0.69% at 23,652.4, as of 10:15 a.m. IST, while the BSE Sensex shed 0.82% to 75,386.61. Both benchmarks slumped about 1.5% and 1.7%, respectively, on Monday.<\/p>\n

Sentiment was also hit after Prime Minister Narendra Modi over the weekend urged fuel conservation and restraint on gold purchases to help preserve foreign exchange reserves, with jewellers, oil firms and travel stocks down for a second session.<\/p>\n

The rupee slipped to a record low, pressured by concerns over India\u2019s import bill as crude prices hovered near $105 a barrel and foreign outflows continued.<\/p>\n

Asian markets fell 0.7% on Tuesday after U.S. President Donald Trump said the ceasefire with Iran was \u201con life support\u201d and dismissed Tehran\u2019s response to a U.S. peace proposal as \u201cstupid\u201d, raising fears of a prolonged conflict.<\/p>\n

Higher crude prices are a key risk for India, the world\u2019s third-largest oil importer, as they can stoke inflation, pressure the currency and weigh on growth and corporate earnings.<\/p>\n

Investors awaited India\u2019s April retail inflation data, due later in the day, for clues on how far higher fuel costs have fed into domestic prices.<\/p>\n

A Reuters poll showed annual inflation likely edged closer to the Reserve Bank of India\u2019s 4% target in April from 3.4% in March.<\/p>\n

Eleven of the 16 major sectors logged losses. The broader small-caps and mid-caps dropped 1.1% and 0.7%, respectively.<\/p>\n

\u201cLack of breakthrough in U.S.-Iran peace talks, weakness in rupee along with continued foreign selling pressure have weighed on market sentiment, with broad-based selling pressure across sectors,\u201d Bajaj Broking Research said.<\/p>\n

Financials lost 1%, while IT sub-index tumbled 3.3% ahead of U.S. inflation data, with TCS, Infosys, HCLTech and Wipro down between 2.5% and 4%.<\/p>\n

In contrast, ONGC and Oil India climbed 6% and 6.6%, respectively, after brokerage CLSA termed the government\u2019s royalty cuts on crude oil and gas production as a significant positive for the two companies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Indian shares extended losses and the rupee slid to a record low on Tuesday, weighed down by elevated crude prices, as fragile negotiations to end the Iran war fuelled concerns over global supply and economic fallout. The Nifty 50 was down 0.69% at 23,652.4, as of 10:15 a.m. IST, while the BSE Sensex shed 0.82% […]<\/p>\n","protected":false},"author":0,"featured_media":721,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan-news"],"_links":{"self":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=720"}],"version-history":[{"count":0,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/720\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/media\/721"}],"wp:attachment":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}