Indian benchmark indices Sensex and Nifty rebounded sharply on Monday, driven by a correction in crude oil prices due to ceasefire efforts in West Asia and strong buying in bank stocks.
Trump added that the United States would assist in managing the traffic buildup in the Strait of Hormuz.
The Strait of Hormuz crisis is impacting lifestyles worldwide, from reduced gold purchases in India to energy conservation in Europe and Japan, as governments urge citizens to adapt to the global energy shock.
The US embassy in Saudi Arabia and the US consulate in Dubai were reportedly targeted by suspected Iranian drone attacks amid heightened tensions in the Middle East following US and Israeli strikes on Iran.
Vietnam is an emerging regional power and a closer relationship with Hanoi is closely aligned with Prime Minister Narendra Modi's Act East Policy, points out Dr Rajaram Panda.
'In such a scenario, Iran could proclaim itself victor, rebuild, re-enforce its diminished regional proxies to further destabilise neighbouring nations and take control of the Persian Gulf and Strait of Hormuz.'
The BRICS foreign ministers' meeting in New Delhi concluded without a joint statement due to disagreements over the West Asia conflict, with Iran blaming the UAE for the lack of consensus. India, as the host, issued a chair's statement highlighting the differing views.
US President Donald Trump has cut short his visit to Canada, where he was to attend G7 Summit meetings, to return to Washington, DC, a day earlier amid escalating tensions between Iran and Israel.
Following a joint attack by the US and Israel on Iran, India is calling for restraint and de-escalation to avoid further military confrontation in the Middle East.
Precious metal prices, particularly gold and silver, experienced a significant surge in the national capital as investors sought safe-haven assets amid escalating hostilities in the Middle East.
Gold prices are expected to remain volatile next week as investors track geopolitical developments in the Middle East and key macroeconomic data releases that could shape the sentiment in the domestic market, analysts said.
The Indian rupee depreciated by 32 paise to close at 92.83 against the US dollar, influenced by escalating global tensions, particularly the US-Iran conflict, and the deadline for the RBI's instructions to banks to curb overnight positions.
Iranian Deputy Foreign Minister Kazem Gharibabadi has urged India to take the lead in bringing peace to West Asia, highlighting the UAE's role in stalling BRICS consensus on the conflict. Gharibabadi also discussed a new framework with Oman for merchant vessels passing through the Strait of Hormuz.
Russia has expressed strong concern over a US-Israeli strike on the Iranian port of Bandar Anzali, a key transit hub on the INSTC, warning of the risk of drawing Caspian states into the ongoing conflict.
Analysts predict a surge in gold and silver prices as investors seek safe-haven assets due to escalating tensions in the Middle East. The impact on domestic prices will depend on the conflict's duration, with geopolitical factors and macroeconomic data also playing a role.
Hours after ceasefire, US President Donald Trump on Wednesday warned against any country supplying military weapons to the Islamic Republic, stating that he would impose a 50 percent tariff on all goods exported to the United States.
The Narcotics Control Bureau secured the return of drug trafficker Mohammad Salim Dola from Turkiye, announced Union Home Minister Amit Shah.
J D Vance heads to Islamabad for high-stakes US-Iran talks, balancing cautious optimism with a warning against bad faith. negotiations.
The Islamic Revolutionary Guard Corps (IRGC) has announced a series of military operations against US and Israeli targets in retaliation for earlier airstrikes. The IRGC claims to have launched multiple missile and drone strikes, and has warned against any potential ground operations within Iranian territory.
Iran has placed anti-personnel and anti-armour mines around the island, where US troops could potentially stage an amphibious landing.
The Indian rupee weakened against the US dollar due to rising crude oil prices, geopolitical tensions in the Middle East, and foreign fund outflows.
Speaking to reporters aboard Air Force One, Trump said the US prefers a negotiated settlement and expects cooperation from Iran on securing nuclear-related materials.
Indian benchmark stock indices Sensex and Nifty rebounded nearly 1 per cent, snapping a three-day decline, driven by rallies in Reliance Industries and Sun Pharma, alongside positive global market trends and easing geopolitical tensions.
Far from it; the country's resistance to the US, its nuclear ambitions, and its pursuit of influence and proxies across the Middle East are driven by a constant search for independence and security. Thus, Iran will never capitulate. Trump will learn this home truth ultimately, and it is going to be a humbling personal experience that may even destroy his presidency, predicts Ambassador M K Bhadrakumar.
Former US President Donald Trump claimed victory over Iran, stating they agreed to never have a nuclear weapon and provided a 'significant prize' related to the Strait of Hormuz. He also suggested a change in Iranian leadership and acknowledged Pakistan's role in facilitating talks.
US President Donald Trump warned Iran of potential escalation despite a recent ceasefire agreement, stating that US forces will remain in the region until a 'real agreement' is reached.
When asked about Bessent's announcement allowing certain Russian oil sales to India and whether the US is considering any other moves, including tapping the Strategic Petroleum Reserve (SPR), Trump said, "If there were some, I would do it just to take a little of the pressure off."
The Indian government has increased the export duty, or windfall tax, on diesel to Rs 55.5 per litre and on aviation fuel (ATF) to Rs 42 a litre, effective immediately, to boost domestic availability and prevent exporters from exploiting global price differences.
Iran has submitted a fresh proposal to regional intermediaries offering to cease its military operations in the Strait of Hormuz, contingent upon a complete cessation of hostilities and the removal of the US blockade on Iranian maritime hubs.
Iranian representatives have conveyed to the Trump administration that they are unwilling to resume talks with Steve Witkoff and Jared Kushner, preferring instead to engage with Vice President J D Vance.
The closure of the Strait of Hormuz has disrupted some 20 per cent of the global flows but even if it opens, damages to production facilities in the region will take time to repair, points out Sunita Narain.
'Refiners may soon be forced to adjust operations, curtailing runs as product exports stall and directing output solely to domestic markets.'
'Jews are very much safe in Iran. They are our brothers. There is a difference between a Jew and a Zionist.' A conversation around a tea table in Mumbai serves as an eye-opener for Syed Firdaus Ashraf.
Nayara Energy, a private fuel retailer in India, has increased petrol and diesel prices following a surge in global oil prices due to Middle East tensions. This move contrasts with state-owned retailers who continue to freeze prices.
Fast-moving consumer goods (FMCG) companies like Dabur India and Marico anticipate high single-digit growth in Q4FY26, driven by strong domestic demand in India, which is helping to offset the negative impact of geopolitical conflicts in West Asia on their international businesses.
China has called on Iran to reopen the Strait of Hormuz and expressed appreciation for Tehran's commitment not to develop nuclear weapons, a key demand of the US to end the conflict.
Advocacy groups issued a travel advisory on Thursday, warning that visitors traveling to the US for the 2026 World Cup may face arbitrary detention or deportation, among other human rights abuses.
British Prime Minister Keir Starmer contacted US President Donald Trump to express his relief following a shooting incident near the White House Correspondents Dinner. The leaders also discussed the need to restore freedom of navigation in the Strait of Hormuz.
Pakistan is set to host face-to-face talks between the United States and Iran, aiming to solidify a fragile ceasefire and prevent further conflict in West Asia. The discussions will focus on a long-term peace arrangement, including sanctions relief, regional security, and Iran's nuclear program.
On Monday, March 9, Mojtaba Khamenei was appointed Iran's new supreme leader, succeeding his father Ayatollah Ali Khamenei.
