Indian Shares Extend Losses For Fourth Day

Indian shares fell for a fourth consecutive session on Tuesday as investors fretted about the oil price surge, a weakening rupee and continued foreign fund outflows.
IT sector woes and Prime Minister Narendra Modi’s call for austerity also spooked markets.

The rupee sank to a new record low of 95.63 against the dollar, bonds remained under pressure and Brent crude prices climbed above $107 a barrel after U.S. President Donald Trump rejected Iran’s counteroffer to end the war as “unacceptable”, adding the month-old ceasefire with Iran is “unbelievably weak” and on “massive life support.”