Mumbai/IBNS, May 21 -- The Indian stock market surrendered its early gains on Thursday as rising global oil prices and fresh geopolitical tensions weighed on investor sentiment, media reports said.

However, the momentum faded by afternoon trade.

The Sensex slipped sharply to trade around 200 points lower, while the Nifty turned negative and was down nearly 30 points.

Defence, Realty And Media Stocks Shine Early

Among the key sectoral gainers during the opening session were the Nifty India Defence Index, which rose 1.72 percent, followed by Nifty Realty and Nifty Media, both gaining around 1 percent.

Oil Prices Spike After Trump's Iran Warning

The market lost steam after crude oil prices surged again following fresh remarks by US Pre...