Indian Shares Edge Lower Amid Mideast Tensions, Fed Uncertainty

(RTTNews) - Indian shares traded lower in early trade on Tuesday, with escalating West Asia tensions and concerns over possible Federal Reserve rate hikes keeping investors on edge. Iranian Parliament Speaker Mohammad Baqer Qalibaf has warned the U.S. that any new U.S. attacks on Iran's oil and gas assets will draw a reciprocal response, stressing that energy infrastructure across the Persian Gulf, including U.S. oil and gas facilities, are vulnerable. Separately, Mohsen Rezaei, a senior Iranian security official, has warned that if the U.S. continued to wage "economic warfare" against Iran, it will be met by a maritime exclusion zone across the Persian Gulf to the blockade perimeter, heightening worries over supply disruption. Investors also looked ahead to the release of crucial U.S. inflation data this week, which could influence expectations around the Federal Reserve's September policy decision. The benchmark 30-share BSE Sensex was down 291 points, or 0.4 percent, at 75,841 while the NSE Nifty index dipped 72 points, or 0.30 percent, to 23,707. Among the prominent decliners, Maruti Suzuki India, Bharti Airtel, ICICI Bank and Mahindra & Mahindra fell 1-2 percent. BEML surged nearly 4 percent, Hindustan Aeronautics jumped 3.8 percent and Bharat Electronics rallied 2.4 percent after the government gave its initial nod for the proposed purchase of about Rs. 1.1 trillion worth of military materiel. PVR Inox soared 4.2 percent after saying it found no evidence of a Rs. 200 crore developer kickback scandal. Novartis India climbed 4 percent after it announced the acquisition of Pfizer's hypertension drug Minipress for Rs. 1,250 crore. NALCO gained 2.5 percent after signing a technology partnership agreement with Emirates Global Aluminum (EGA) of the UAE.

(RTTNews) - Indian shares traded lower in early trade on Tuesday, with escalating West Asia tensions and concerns over possible Federal Reserve rate hikes keeping investors on edge.

Iranian Parliament Speaker Mohammad Baqer Qalibaf has warned the U.S. that any new U.S. attacks on Iran's oil and gas assets will draw a reciprocal response, stressing that energy infrastructure across the Persian Gulf, including U.S. oil and gas facilities, are vulnerable.

Separately, Mohsen Rezaei, a senior Iranian security official, has warned that if the U.S. continued to wage "economic warfare" against Iran, it will be met by a maritime exclusion zone across the Persian Gulf to the blockade perimeter, heightening worries over supply disruption.

Investors also looked ahead to the release of crucial U.S. inflation data this week, which could influence expectations around the Federal Reserve's September policy decision.

The benchmark 30-share BSE Sensex was down 291 points, or 0.4 percent, at 75,841 while the NSE Nifty index dipped 72 points, or 0.30 percent, to 23,707.

Among the prominent decliners, Maruti Suzuki India, Bharti Airtel, ICICI Bank and Mahindra & Mahindra fell 1-2 percent.

BEML surged nearly 4 percent, Hindustan Aeronautics jumped 3.8 percent and Bharat Electronics rallied 2.4 percent after the government gave its initial nod for the proposed purchase of about Rs. 1.1 trillion worth of military materiel.