Gold Silver Reports (GSR) – Crude Oil Retailers Fall After U.S. Reinstates Sanctions On Iran – Shares of the government-owned oil marketing companies fell after President Donald Trump said the U.S. will withdraw from the landmark 2015 accord to curb Iran’s nuclear program and reinstate financial sanctions on the Islamic Republic, opening an uncertain new chapter for the Middle East.
Analysts say in the backdrop of this development crude oil prices could rise further which would impact margins of the oil refining companies.
✅ Bharat Petroleum fell 3.21 percent
✅ Hindustan Petroleum declined 3.75 percent
✅ Indian Oil dropped 2.10 percent
Indian equity benchmarks drifted lower dragged by oil retailers after President Donald Trump said the U.S. will withdraw from the landmark 2015 accord to curb Iran’s nuclear program and reinstate financial sanctions on the Islamic Republic.
The S&P BSE Sensex fell 0.13 percent or 46 points to 35,167 and the NSE Nifty 50 index declined 0.12 percent or 13 points to 10,704.
Ten out 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Oil & Gas index’s 0.8 percent drop. On flipside, the S&P BSE Metal index was the top sectoral gainer, up 1 percent.
The mid- and small-cap shares were in-line with their larger counterparts as the S&P BSE MidCap index fell 0.2 percent and the S&P BSE SmallCap index slipped 0.1 percent.
