(Il Sole 24 Ore Radiocor) - Milano, 12 mag - Indian share prices closed sharply lower, as markets retreated following a fresh escalation in Middle East tensions and a weakening currency.

Investor confidence dipped after US president Donald Trump rejected a peace proposal from Iran, warning that the current ceasefire is extremely fragile.

The geopolitical uncertainty pushed crude oil prices above 105 dollars a barrel, while the rupee hit a new record low against the dollar.

Losses were led by the IT sector amid worries over global demand and technology earnings.

The BSE Sensex fell 1.91% to close at 74,559.24 points while.

the NSE Nifty shed 1.62% to reach 23,429.55 points.

(RADIOCOR) 12-05-26 12:17:44 (0354) 5 NNNN