<p class="title">Indian shares closed lower on Monday, as soaring oil prices after an attack on Saudi Arabian oil facilities over the weekend dented sentiment.</p>.<p class="bodytext">The broader NSE index closed down 0.65% at 11,003.5, while the benchmark BSE index ended 0.70% lower at 37,123.31. The Indian rupee was weaker by 0.88% at 71.52 against the dollar by 1014 GMT.</p>.<p class="bodytext">Oil prices surged nearly 20% at one point on Monday, but prices came off their peaks after U.S. President Donald Trump authorised the use of his country's emergency stockpile to ensure a stable supply.</p>.<p class="bodytext">Higher oil prices tend to sour investor sentiment in emerging markets like India, which is the world's third-biggest importer of oil.</p>.<p class="bodytext">Oil marketing firm Bharat Petroleum Corporation Ltd closed down 7% and saw its worst session in nearly one year. The stock was the biggest loser on the NSE index.</p>.<p class="bodytext">Auto and finance stocks also contributed to losses, with Mahindra and Mahindra Ltd and State Bank of India sliding 2.6% and 2.4%, respectively.</p>
<p class="title">Indian shares closed lower on Monday, as soaring oil prices after an attack on Saudi Arabian oil facilities over the weekend dented sentiment.</p>.<p class="bodytext">The broader NSE index closed down 0.65% at 11,003.5, while the benchmark BSE index ended 0.70% lower at 37,123.31. The Indian rupee was weaker by 0.88% at 71.52 against the dollar by 1014 GMT.</p>.<p class="bodytext">Oil prices surged nearly 20% at one point on Monday, but prices came off their peaks after U.S. President Donald Trump authorised the use of his country's emergency stockpile to ensure a stable supply.</p>.<p class="bodytext">Higher oil prices tend to sour investor sentiment in emerging markets like India, which is the world's third-biggest importer of oil.</p>.<p class="bodytext">Oil marketing firm Bharat Petroleum Corporation Ltd closed down 7% and saw its worst session in nearly one year. The stock was the biggest loser on the NSE index.</p>.<p class="bodytext">Auto and finance stocks also contributed to losses, with Mahindra and Mahindra Ltd and State Bank of India sliding 2.6% and 2.4%, respectively.</p>