* NSE index down 0.36 pct, BSE index falls 0.32 pct
* Jet Airways sinks 15% to record low
* Adani (NS: APSE ) Gas up over 7% on report of deal with Total SA
By Derek Francis
BENGALURU, June 14 (Reuters) - Indian shares edged lower on Friday, tracking broader Asia, as investors fretted over a rally in crude prices following tanker attacks in the Gulf of Oman on Thursday.
Oil prices rose for a second day on Friday, extending sharp gains following the attacks and stoked concerns of reduced crude flows through one of the world's key shipping routes. broader NSE index fell 0.36% to 11,871.80 in morning trade, while the benchmark BSE index was 0.32% lower at 39,613.28.
"I don't see it (the attack) as a major concern for crude to go up," said Rusmik Oza, senior vice president (Head of Fundamental Research) at Kotak Securities.
"This spike will cool off after some days unless this intensifies into a warlike situation."
Oil marketers topped the losers' list on the NSE. Indian Oil Corp IOC.NS fell as much as 1.2%, while Bharat Petroleum Corp Ltd BPCL.NS fell about 0.8%, dragging the Nifty energy index .NIFTYENR about 0.3% lower.
Shares of Jet Airways JET.NS fell as much as 15%, extending their fall to a fresh low after the National Stock Exchange said on Wednesday the carrier would soon no longer be traded in the derivatives market, while day-trading in the stock would also be barred public sector banking index .NIFTYPSU was lower by about 0.5%, dragged by heavyweights State Bank of India SBI.NS and Bank of Baroda BOB.NS , which were down by about 0.7%
Generic drugmaker Dr Reddy's Laboratories Ltd REDY.NS was down about 1% after a deal to sell its neurology branded products.
Among gainers, Power Grid Corp PGRD.NS topped the NSE list, rising about 1.4%.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.