Indian benchmark indices Sensex and Nifty experienced a sharp decline in early trading due to escalating tensions in the Middle East, driving crude oil prices higher. Global market bearishness and foreign fund outflows further contributed to investor unease.
US President Donald Trump stated that Iran is eager to make a deal and predicted a sharp decline in oil prices due to abundant supply, amidst a Senate resolution to limit his war powers in Iran.
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
The Sri Lankan government attributes the sharp depreciation of the rupee against the US dollar to the ongoing conflict in West Asia, citing increased costs for essential imports like gas, fertiliser, and oil.
Amidst the ongoing conflict in West Asia, the Oil Ministry assures citizens that India's LPG supply remains secure, with no need for panic booking of cylinders. The normal delivery cycle of two-and-a-half days is being maintained, and crude oil is being sourced from diverse routes.
A US military Apache attack helicopter crashed near the Strait of Hormuz, with its crew successfully rescued, as US President Donald Trump confidently declared an imminent 'total victory' over Iran within two weeks and a new nuclear deal, despite ongoing regional volatility and a recent de-escalation between Iran and Israel.
India Ratings and Research predicts the Reserve Bank of India (RBI) will maintain the repo rate at 5.25 per cent throughout FY27, despite potential inflationary pressures from higher fuel prices, with inflation expected to remain within the central bank's tolerance band.
An Indian national has reportedly been killed in an attack carried out by Iran using a 'suicide' boat against a US-owned oil tanker near Iraq. The incident has raised concerns about the safety of seafarers in the region.
Indian stock markets concluded Tuesday's trading session lower, reversing intraday gains due to late-session selling in blue-chip stocks like HDFC Bank and Reliance Industries. The decline was primarily driven by the Indian rupee hitting a new record low against the US dollar and elevated global crude oil prices, compounded by geopolitical uncertainties.
Donald Trump defends the recent surge in global oil prices, arguing it's a necessary short-term cost to eliminate Iran's nuclear threat and ensure global security.
The Indian central government has reduced its total expenditure by approximately 60,000 crore in FY26, below its revised estimate, to successfully achieve the fiscal deficit target of 4.4 per cent of gross domestic product (GDP), according to the latest data from the Controller General of Accounts (CGA).
As many as 35 vessels, including cargo carriers and oil tankers, successfully navigated through the strategic maritime chokepoint of the Strait of Hormuz over the last 24 hours, according to Iran's state media reports citing a formal declaration by the Islamic Revolutionary Guard Corps (IRGC) Navy.
The US has granted India permission to buy Russian oil already in transit to ease global supply pressures amidst the West Asia conflict. This decision comes after India agreed to halt sanctioned Russian oil purchases and substitute them with US oil.
'Oil is still well below its all-time highs, and the world is gradually running out of known reserves.'
"There is a sharp jump that we have seen in bookings of EVs... The jump, at least in our case, in just two months, it is about 2 to 2.5 times of what it used to be"
Indian benchmark stock indices, Sensex and Nifty, experienced a significant decline for the third consecutive day, with the Sensex tumbling 1,092 points and Nifty closing below 24,550. This downturn was primarily driven by the India Meteorological Department's forecast of a below-normal southwest monsoon and ongoing geopolitical uncertainties surrounding the US-Iran ceasefire arrangement.
Moody's Ratings has highlighted that Indian banks are among the most exposed in the Asia-Pacific region to the West Asia crisis, primarily due to India's high dependence on energy imports, which could lead to increased inflation, higher interest rates, and strained borrower cash flows.
Petrol and diesel prices have been increased by Rs 3 per litre each, marking the first hike in over four years, as state-run fuel retailers pass on some of the impact from surging global crude prices, which have been exacerbated by the Iran war.
The Indian government has refuted reports suggesting a deal with Iran involving the release of seized oil tankers in exchange for safe passage of Indian vessels through the Strait of Hormuz.
'In all these years of rupee depreciation, of rising oil prices, of inflation caused by import dependence, not one leader had the courage to look the people in the eye and say: Please do this for your country.'
Responding to a question on the trade deal being negotiated between the two countries, Trump said India had taken advantage of US policies for years and charged tremendous tariffs.
Bank of Baroda economists project India's GDP to grow 6.5-6.8 per cent in FY27 but warn that the fiscal deficit could overshoot the budgeted 4.3 per cent target, potentially reaching 4.7-4.8 per cent of GDP due to subsidy overruns, excise duty cuts, and oil marketing company losses.
The Maharashtra Food and Drug Administration (FDA) conducted raids across the state, arresting 33 individuals and sealing 27 establishments for food adulteration, selling banned gutkha, and unhygienic food production.
The United States military has intercepted and destroyed two Iranian attack drones that posed an immediate hazard to commercial shipping lanes in the Strait of Hormuz, according to an official statement by the US Central Command late Saturday.
Union Finance Minister Nirmala Sitharaman has warned that the ongoing West Asia crisis is not merely a geopolitical issue but will directly lead to higher fuel costs for common people and businesses, impacting shipping, input availability, and export orders.
The Ministry of External Affairs (MEA) has refuted reports suggesting a deal with Iran involving the release of seized vessels in exchange for safe passage of Indian ships through the Strait of Hormuz.
Indian benchmark equity indices, Sensex and Nifty, closed lower due to investor caution over rising bond yields, a weaker rupee, and fresh fuel price hikes, which have revived inflation concerns.
Why would a country that requires close to $90 billion in net foreign capital annually to create jobs, build productive capacity, and sustain rapid growth permit $30 billion of capital to flow abroad, thereby contributing to pressure on the rupee? asks Debashis Basu.
An Indian crew member was killed after a US-owned oil tanker was attacked near Basra, Iraq. Fifteen other Indian crew members were evacuated.
India's wholesale price inflation surged to 8.30 per cent in April, up from 3.88 per cent in March, primarily driven by a significant increase in the prices of fuel, power, and crude petroleum, according to data from the commerce and industry ministry.
'If the war continue for a longer period of time, it is just a matter of time before the government will pass on some of the price increases.'
Tensions escalate between Iran and the US over control of the Strait of Hormuz, a crucial shipping lane for global oil supplies, as both sides discuss extending a fragile ceasefire.
An Indian national was killed in an attack on an oil tanker off the coast of Oman. The tanker was struck by an explosive-laden unmanned boat, resulting in a fire and explosion.
Mother Dairy has launched a naturally degradable milk pouch, a first in India, designed to break down in soil and reduce plastic waste. The new packaging will be used for cow milk across Delhi-NCR starting June 5th.
A high-stakes memorandum for a 60-day ceasefire between the United States and Iran is in its final stages, with negotiators working to close remaining gaps and avert further escalation in the region, including reopening of the Strait of Hormuz and the resumption of Iranian oil sales, according to an Axios report citing US officials.
Indian stock market benchmark indices closed higher, driven by strong performance in blue-chip bank shares and a positive trend in global markets, with hopes of progress in US-Iran peace negotiations also contributing to optimism.
Indian companies are increasingly opting for demergers, with 29 deals valued at over $40 billion in 2025 alone, marking a 10-year high, as promoters and boards recognise that markets favour focused businesses over complex conglomerates.
Chief Economic Advisor V Anantha Nageswaran stated that India's economy is projected to return to a 7 per cent-plus growth trajectory by 2027-28 (FY28), or sooner if external conditions improve, despite near-term challenges from the West Asia crisis.
