New Delhi, Oct. 23 -- Indian stock indices surrendered most of their gains from Thursday as the session progressed, mainly due to US sanctions on key Russian crude majors and indications that the US deal may not be finalised soon, analysts said. Profit booking by investors also likely weighed on the stock indices.

"The US sanctions on Russian oil majors also raised concerns that India may have to curtail purchases of discounted Russian crude and turn to costlier alternatives, potentially straining the import bill and inflation outlook," said Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth tech firm.

The market rose sharply in the first half on optimism over a potential India-U.S. trade deal but surrendered mo...