Benchmark indices Sensex and Nifty fell from day's high to trade in red on September 10 due to various reasons, including rising crude prices.
At 2:05 pm, the Sensex was down 40.70 points or 0.05% at 74,723.53, and the Nifty was down 14.05 points or 0.06% at 23,417.45. About 1,780 shares advanced, 2,103 shares declined, and 150 shares were unchanged. Sensex fell 200 points from day's high while Nifty was trading near the psychologically important
An intensifying Middle East conflict kept crude prices above the $100 per barrel mark.
Iran said it attacked 10 ships near the Strait of Hormuz after the U.S. sank five Iranian oil tankers in the largest attacks on shipping in the six-month-old conflict.
Higher oil prices are detrimental for India, the world's third-largest importer of the commodity, as they increase the import bill, worsen inflationary pressures and weigh on economic growth and corporate profitability.