New Delhi: Soaring oil prices pulled the markets down with both equity indices opening in red on Monday.
The BSE Sensex fell 202.81 points or 0.52 percent to 38,937.47 in early trade while the NSE Nifty dived 66.15 points or 0.56 percent to 11,686.65.
Asian shares were steady as brent crude prices rose by 2.5 percent to $73.77 per barrel amidst reports that United States is preparing to announce on Monday that all buyers of Iranian oil will have to end their imports shortly, a Reuters report said.
MSCI`s broadest index of Asia-Pacific shares outside Japan little changed in early deals.
With Agency Inputs