Sensex, Nifty pare gains on Trump's Iran strike warning

Indian benchmark indices Sensex and Nifty gave up most of their early gains on Wednesday after US President Donald Trump warned of a "very strong strike" if the Strait of Hormuz is not reopened soon, while Tehran denied holding direct negotiations with Washington. The Sensex, which had jumped over 600 points in early trade, was trading nearly 350 points below its day's high, while the Nifty slipped into the red. Profit booking and resistance near 24,700 also contributed to the pullback.