Indian shares fall as investors await details on Iran sanctions

Indian shares declined on Monday as global markets were subdued, according to Business Recorder. Investors remained wary ahead of details on possible U.S. sanctions against Iran, which Treasury Secretary Scott Bessent is set to outline at a press conference at 1800 GMT.

The Nifty 50 slipped 0.14 per cent to 24,219.05, while the Sensex lost 0.22 per cent to 77,369.11. Both indexes have fallen about 1.3 per cent over the past two weeks as traders weighed how the Middle East conflict could affect inflation and bond yields. Oil eased to $93 per barrel as worldwide equities also dipped.

Eleven of the 16 major sectors in India declined, with small-caps down 0.3 per cent and mid-caps up 0.1 per cent. Muthoot Finance and Manappuram Finance rose 6.2 per cent and 2.1 per cent after gold touched its highest level in more than three months, while Vishal Mega Mart jumped 9.7 per cent after reappointing Gunender Kapur as managing director and CEO. Attention now turns to the Federal Reserve chief's Jackson Hole speech later this week.