Indian equities on Dalal Street saw volatility as global market trends and oil price hike impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for Apr 23, 2026.
Gold and silver prices saw a significant decline in the national capital, with silver falling by Rs 7,800 to Rs 2.43 lakh per kilogram and gold by Rs 1,500 to Rs 1.54 lakh per 10 grams, as investors booked profits amid persistent doubts over the durability of the West Asia ceasefire.
US President Donald Trump and Chinese President Xi Jinping met in Beijing to discuss a range of issues, including trade frictions and the war in Iran.
Iran's Supreme Leader Ayatollah Ali Khamenei claims a new chapter is emerging in the Persian Gulf due to the 'shameful failure' of the United States in the region, citing shifting regional dynamics and weakening foreign influence.
US President Donald Trump will visit China from May 13 to 15 at the invitation of President Xi Jinping. The visit occurs amidst global tensions, including the war in West Asia and trade disputes between the US and China. Discussions are expected to cover China-US relations, world peace, and economic issues.
Indian benchmark equity indices, Sensex and Nifty, snapped a three-day rally, tumbling nearly 1 per cent due to heavy selling in IT stocks, a jump in crude oil prices, foreign fund outflows, and fears of prolonged instability in West Asia.
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.
United States President Donald Trump has issued a strong warning to Iran, asserting that any attempt to impede the transit of petroleum through the Strait of Hormuz would be met with massive military retaliation.
US President Donald Trump on Monday confirmed that his administration has received a proposal from Iran aimed at ending the ongoing conflict in West Asia, but described the offer as insufficient.
Equipped with advanced weaponry, the HMS Anson is fitted with "Tomahawk Block IV land-attack missiles" with a range of 1,600 km and "Spearfish heavyweight torpedoes," providing formidable offensive capabilities.
India imports nearly 60 percent of its LPG, with most cargo previously coming through the Strait of Hormuz, now closed for commercial shipping.
Uncertainty surrounds the US-Iran talks as a two-week ceasefire approaches its end. Pakistan is attempting to mediate, but tensions remain high after a recent naval incident.
Each time a deadline almost runs out, President Trump hands out a new one.
Russia and China vetoed a Bahrain-backed UN resolution aimed at reopening the Strait of Hormuz. A resolution that was already diluted to secure their abstentions.
'US and Iran have not annulled the ceasefire, and the possibility of continuing negotiations remains open.'
'Despite the large number of missiles and drones we have already launched, we still possess reserves and missile cities whose doors have not yet been opened,' says Iran's Consul-General Saeid Reza Mosayeb Motlagh.
Trump also brushed off criticism of his expletive-laden references to causing destruction in Iran if they failed to make a deal to end the war.
Markets face risk of a prolonged bear phase as oil shocks and geopolitical tensions test inflation, growth and investor confidence globally, points out Debashis Basu.
A media report indicates the White House was directly involved in crafting a social media post by Pakistan's Prime Minister Shehbaz Sharif, requesting then-US President Donald Trump to extend the deadline on Iran.
In his first major national address since hostilities began, Trump said the ongoing military campaign, dubbed 'Operation Epic Fury', has delivered 'swift, decisive, overwhelming victories'.
US President Donald Trump received a red carpet welcome in Beijing for talks with Chinese President Xi Jinping on trade, the Iran war, and other key issues. The visit underscores the importance both nations place on their relationship amid ongoing tensions.
Analysts predict India will face oil price volatility and macroeconomic effects due to the escalating Iran crisis, though the country's oil supply chain is not yet structurally insecure.
'Even if the war ends tomorrow, which is unlikely, and we go back to the pre-war status quo, the world will still need some time to get over the sudden shock of oil price increases.'
Former US President Donald Trump claimed he stopped a war between India and Pakistan and expressed his desire to be remembered as a great peacemaker.
Delhi Police have dismantled an illegal LPG cylinder hoarding and black marketing operation in Bawana, arresting one individual and seizing 75 cylinders.
...reopen for up to six months. Until then, the Strait stays nearly closed. The world pays. And no one, including the man who started this, can say when it ends, notes Prem Panicker in his must read blog on the Iran War.
External Affairs Minister S Jaishankar discussed the West Asia conflict and its impact on energy supplies with his Russian counterpart Sergey Lavrov and EU's Foreign Policy chief Kaja Kallas.
US President Donald Trump has claimed that a significant number of Iranian military officials were killed during a "massive strike" conducted in Tehran.
The two leaders also emphasised the importance of ensuring safe and free navigation through the Strait of Hormuz, the Ministry of External Affairs (MEA) said.
Iranian Foreign Minister Abbas Araghchi visited Pakistan for the second time in three days amid uncertainty surrounding potential peace talks with the US. The visit follows discussions in Oman regarding regional security and efforts to resolve the Iran-US conflict.
US President Donald Trump has shared an article suggesting that the option of enforcing a naval blockade was available in the context of Iran, as peace talks ended in a stalemate in Islamabad after differences of opinion arose between the two parties on the Strait of Hormuz and Iran's nuclear capacities.
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.'
India's fiscal deficit is projected to reach 4.5 per cent of GDP for the current fiscal year, exceeding the budgeted target, as the government's policy responses to the West Asia conflict are expected to strain public finances, according to research firm BMI.
India possesses approximately 100 million barrels of commercial crude oil stocks, capable of covering 40-45 days of its requirements if flows through the Strait of Hormuz are disrupted, according to Kpler.
18 Indian-flagged vessels with 485 Indian seafarers still remain in the western Persian Gulf region
'Refiners may soon be forced to adjust operations, curtailing runs as product exports stall and directing output solely to domestic markets.'
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.
Prem Panicker's Must Read Blog On The Gulf War.
Indian equity markets experienced a significant decline in early trade, with the BSE Sensex and NSE Nifty dropping, as escalating geopolitical tensions in West Asia and a surge in global oil prices dampened investor sentiment. Track Sensex, Nifty50 movement and key market drivers for May 8, 2026.
Analysts warn that global markets are significantly underpricing the risk of an oil price shock, with Brent crude potentially soaring to $150 per barrel if the West Asia conflict escalates or damages critical oil and gas infrastructure. This could lead to severe inflation and economic repercussions, particularly for import-dependent nations like India.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances