Market, rupee fortunes may prove fickle amid Iran flareup

Mumbai: Markets are set to face fresh turmoil on Monday, with Iran closing the Strait of Hormuz because its ports were being blockaded by the US, forcing oil prices back up, in sharp contrast to the optimism on Friday, when the key maritime channel had been opened up. Stocks and the rupee are seen facing fresh challenges after having recouped losses and strengthened amid easing geopolitical tensions. Last week, the Sensex and Nifty gained up to 1.3%, while broader indices advanced further - the...