April 13 (Reuters) - Indian shares declined at the open on Monday, tracking Asian peers as oil surged above $100 a barrel after U.S.-Iran peace talks failed to yield a deal, heightening the risks to economic growth and corporate profitability.
Over the weekend, negotiations between the two countries in Islamabad ended in a stalemate. U.S. President Donald Trump on Sunday said the U.S. Navy would itself start blockading the Strait of Hormuz nL1N40U07M, intensifying geopolitical tensions and sending oil prices higher.
The Nifty 50 fell 1.92% to 23,589.60 and the Sensex slid 2.08% to 75,937.16 as of 9:15 a.m. IST.
Both benchmarks, Nifty and Sensex, rose about 6% last week, posting their best showing in more than five years as investors took comfort from a fragile U.S.-Iran ceasefire.
Brent crude jumped about 7.3% to $102 per barrel. Other Asian markets fell about 1.3%.
In India, all 16 major sectors logged losses. The broader small-caps and mid-caps shed about 2% each.
(Reporting by Bharath Rajeswaran and Vivek Kumar M in Bengaluru; Editing by Rashmi Aich and Mrigank Dhaniwala)
