Indian equity benchmark indices Sensex and Nifty surged significantly in early trade, mirroring a global market rally and a drop in crude oil prices below USD 100 per barrel, driven by renewed hopes of diplomatic engagement between the US and Iran.
Iranian Foreign Minister Seyed Abbas Araghchi on Saturday criticised the United States over its stance on Russian oil, claiming Washington was now "begging" countries across the globe, including India, to purchase Russian crude.
US Vice President J D Vance stated that while progress was made during peace talks in Islamabad, it is now up to Iran to further the discussions and address US concerns regarding its nuclear ambitions.
Pakistani authorities have arrested eleven social media activists in Punjab province for allegedly spreading provocative content against the army and inciting public unrest.
'US and Iran have not annulled the ceasefire, and the possibility of continuing negotiations remains open.'
The Congress party has criticised the Indian government's diplomatic efforts, questioning how Pakistan was able to secure a role as a mediator between the US and Iran despite India's attempts to isolate it after the Pahalgam attack. The party also raised concerns about India's standing on the global stage and its relationship with the US and China.
External Affairs Minister S Jaishankar and his Iranian counterpart Abbas Araghchi held talks focusing on the West Asia crisis and its impact on energy supplies and maritime stability.
Donald Trump says several issues were settled during the final day of talks with Xi Jinping covering trade, tariffs, and diplomacy.
US forces have launched search and rescue efforts for a US fighter jet, which several news outlets, including the Wall Street Journal and CNN, said had been shot down over Iran.
Chinese Foreign Minister Wang Yi has urged Iran to guarantee freedom and safe passage through the Strait of Hormuz, a critical waterway for global oil trade, amid ongoing tensions with the US.
US Secretary of War Pete Hegseth on Wednesday claimed that Tehran "begged" for a truce, maintaining that Washington achieved a "decisive military victory" during 'Operation Epic Fury.'
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.
Indian benchmark indices Sensex and Nifty surged in early trade, driven by a rally in IT stocks and tempered expectations of US Federal Reserve monetary tightening following softer-than-expected US jobs data. Track Sensex, Nifty on July 3.
The urgency for a resolution is underscored by the military situation, as joint operations by Israel and the US have consistently been "targeting Iran's missile systems, launch sites and other critical infrastructure" since the onset of the conflict.
A spokesperson said the government is carefully assessing these communications in the context of the ongoing regional crisis.
Iran's national soccer team, currently training in Tijuana, Mexico, will be able to enter the US the day before each of their three World Cup matches, the Department of Homeland Security said on Tuesday.
The clock on the ceasefire is running out. But everyone's already whispering about round two, possibly as soon as this weekend.
The meeting follows a ceasefire agreement that was announced and welcomed by Shehbaz Sharif, who also extended invitations to both delegations for further negotiations.
United States President Donald Trump boards Air Force One for his return home following diplomatic engagements in Beijing.
On Doctors' Day this week let's turn the spotlight onto doctors who decided to become leaders.
Iranian President Masoud Pezeshkian has confirmed Tehran's participation in Pakistan-facilitated peace talks with the US in Islamabad, according to Prime Minister Shehbaz Sharif. This development follows a conditional ceasefire agreement and aims to address regional tensions.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
Iran's Ambassador to Pakistan, Reza Amiri Moghadam, has said there are no ongoing talks between Tehran and Washington, DC, countering United States President Donald Trump's claims of peace overtures.
Amidst escalating tensions in West Asia, Russian President Vladimir Putin is actively calling for de-escalation and political resolution, engaging with Iranian and US counterparts to navigate the complex conflict landscape.
India's aviation sector is facing fresh turbulence, with rising fuel costs, the Ministry of Civil Aviation's free-seat directive, and geopolitical disruptions in West Asia clouding near-term earnings visibility.
Iran blames the US for 'maximalism' and 'shifting goalposts' leading to the collapse of the Islamabad talks.
Srivastava warned that continued bombing of Iran by the US and Israel could severely undermine any prospects of reopening critical maritime routes through negotiation with Tehran.
A new analysis by the Institute for the Study of War has warned that Iran could escalate its attacks on Israel by launching large missile salvos aimed at maximising psychological pressure on civilians.
The United States Central Command (CENTCOM) has announced that American forces are maintaining a strict maritime restrictive operation in the region, continuing to enforce a blockade against Iranian ports.
Hegseth said the military campaign, code-named Operation Epic Fury, against Iran is "laser focused" and "decisive," with objectives set directly by the US administration remaining unchanged since the start of operations.
The operation reportedly extended to American assets, with the IRGC claiming that "US military bases in the region, namely Ali al-Salem in Kuwait, as well as al-Minhad and al-Dhafra in the United Arab Emirates, were also targeted."
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.
The US-China rapprochement, however tenuous, is not without implications for India. Both China and Pakistan have become closer to the US, notes Ambassador T P Sreenivasan.
'Without ground troops the US will not be able to oust the Iranian Islamic regime. Political change does not happen just by using bombs or planes.'
Disciplined investors who ignore short-term fear build significant long-term wealth, notes Ramalingam Kalirajan
Iran's ambassador to India, Mohammad Fathali, has described India as a "reliable and compassionate" partner while asserting Tehran's territorial authority over the Strait of Hormuz amidst ongoing regional tensions.
Iran has not closed the Strait. It remains open; however, due to current conditions and circumstances, ships are unable to pass through the Hormuz. Otherwise, Iran never wanted the Strait to be closed or blocked, the supreme leader's representative said.
In a post on Truth Social, Trump said the decision followed a request from the Iranian government and added that talks between the two sides were 'going very well'.
'Our diplomacy should have been focused on preventing war and avoiding the inevitable disruptions it would cause, posing a real risk to India's growth story,' asserts former foreign secretary Shyam Saran.
Analysts predict that inflation data, the US Federal Reserve's interest rate decision, and crude oil price trends will be the primary factors influencing the movement of Indian stock markets. Geopolitical developments, particularly the US-Iran deal, and foreign investor activity will also play a crucial role.
