Indian benchmark indices Sensex and Nifty traded lower amid volatile trends, influenced by escalating geopolitical uncertainties in West Asia and fresh outflows from Foreign Institutional Investors (FIIs).
Indian stock market indices Sensex and Nifty experienced a decline in early trade due to surging crude oil prices and ongoing geopolitical uncertainty in West Asia. Foreign fund outflows further contributed to the negative sentiment.
Khamenei urged the pilgrims for unity and called on them to pray for "the liberation of Palestine and Al-Aqsa Mosque, the alleviation of the great hardships afflicting Muslims, and the attainment of ultimate victory against global arrogance."
The IRGC is the most powerful branch of Iran's armed forces and operates independently of the country's regular military, answering directly to Supreme Leader Ali Khamenei.
Foreign Ministers from Saudi Arabia, Egypt, and Turkiye convene in Pakistan for a summit aimed at de-escalating the ongoing conflict in West Asia, with Pakistan actively seeking to broker peace through dialogue and diplomacy.
'The situation globally is quite challenging, but we have the confidence and courage of conviction that we will come out winners even in this challenging time.'
India's compound archers, led by Rajat Chauhan and Chikitha Taniparthi, dominated the Asia Cup World Ranking Tournament, while the recurve team faced disappointment.
An Indian national has been killed in Kuwait following Iranian strikes on a power and water desalination plant, bringing the total number of Indian fatalities in the West Asia conflict to eight.
'With inflationary pressures now at elevated levels and the adverse cost environment persisting, the company has to pass on a portion of the increased costs to the market, while continuing to ensure that the impact on customers is kept to the minimum extent possible.'
He added that opposition parties were assured that their concerns regarding the impact of the West Asia situation on India and the safety of Indian citizens were addressed in detail.
Israeli Prime Minister Benjamin Netanyahu has lauded India as a 'huge power' with a strong affinity for Israel, highlighting the growing partnership between the two nations despite global delegitimisation efforts against the Jewish state.
Indian benchmark indices Sensex and Nifty closed lower, snapping a two-day rally, as a spike in crude oil prices, triggered by reports of fresh US military operations in southern Iran, dampened investor sentiment and reignited fears of renewed energy supply disruptions.
The USS Tripoli, carrying around 3,500 US Marines, has entered the United States Central Command (CENTCOM) area of responsibility, marking the deployment of one of America's largest amphibious assault ships into an active combat theatre in West Asia amid the ongoing conflict.
Insights from behavioural economics suggest that an ambitious nudge can be effective if three conditions are met, points out Ram Singh Insights from behavioural economics suggest that an ambitious nudge can be effective if three conditions are met, points out Ram Singh, director, Delhi School of Economics.
India is set to begin the international archery season with a mix of young talent and experienced archers at the Asia Cup Stage 1 in Bangkok, opting to test their squad depth ahead of the Asian Games.
Randhir Singh, a prominent figure in Indian sports and the Olympic movement, has died at the age of 79. He was known for his contributions as an athlete, administrator, and advocate for Indian sports on the international stage.
Gurindervir Singh set a new national record in the men's 100m sprint at the National Senior Athletics Federation Competition in Ranchi, clocking 10.09 seconds.
Prime Minister Narendra Modi held a virtual meeting with chief ministers to review preparedness and plans in light of the West Asia conflict, emphasising the importance of national unity and enhanced security measures.
Gurindervir Singh set a new national record in the men's 100m, clocking 10.09 seconds, while Vishal TK became the first Indian to run the 400m in under 45 seconds at the National Senior Federation Competition.
External Affairs Minister S Jaishankar will address the Lok Sabha on the situation in West Asia, as Parliament reconvenes for the Budget session amidst ongoing regional tensions.
The Indian government has convened an all-party meeting to discuss the ongoing crisis in West Asia, following Prime Minister Modi's address to Parliament on the situation and its potential impact on India.
Chennai-based SKASports Investments Private Ltd has signed an agreement with a Singapore club to develop a regional sports ecosystem that would tap the large pool of footballers and coaches from India.
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
Indian equity benchmark indices Sensex and Nifty experienced a significant tumble in early trade, with the Sensex tanking nearly 700 points, driven by uncertainty surrounding US-Iran negotiations, a fresh spike in crude oil prices, and persistent foreign fund outflows.
India's consumption stocks, which have outperformed the broader market, are now facing significant pressure due to a gradual rise in fuel prices and the potential for higher inflation. Analysts warn that companies may be forced to pass on increased input costs to consumers, potentially hurting demand across both staples and discretionary categories, with a looming threat of deficient monsoon rainfall further exacerbating inflationary concerns.
Former champion Dinesh Khanna sees similarities between his 1965 Badminton Asia Championships win and Ayush Shetty's current run in the tournament.
India is set to host the Asia Cup archery tournament in Delhi in 2027, marking the return of major international archery events to the country after 22 years. Ahmedabad will host the Asian Para Archery Championships in September, and Kolkata will host the South Asian Archery Championships in 2026.
South India's manufacturing, construction, and services sectors are grappling with severe labour shortages, prompting employers to offer attractive incentives like free air tickets and salary increments to lure migrant workers back from their home states after recent assembly elections.
The Indian government has imposed a new windfall gains tax of Rs 3 per litre on petrol exports, while simultaneously reducing the levy on diesel to Rs 16.5 per litre and aviation turbine fuel (ATF) to Rs 16 per litre, effective May 16.
India would confront a more entrenched China, a less dependable United States, and a regional order increasingly shaped by great-power bargaining over which it exercises limited influence, notes Amberish K Diwanji.
The Indian rupee plummeted to an all-time low of 95.80 against the US dollar, settling at 95.66, driven by elevated crude oil prices and escalating geopolitical tensions in West Asia, despite potential RBI intervention and import curbs on gold.
'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.'
The United States and Iran could be set to announce an agreement soon to achieve a complete solution to the hostilities in West Asia, as reported by Saudi state media Al Arabiya on Wednesday, citing sources familiar with the ongoing negotiations.
The family of Dixit Solanki, an Indian seafarer killed in a suspected attack on a merchant vessel off the coast of Oman, has filed a petition in the Bombay High Court seeking the return of his mortal remains.
The Indian government is considering additional relief packages for vulnerable sectors like MSMEs to mitigate the impact of the ongoing West Asia crisis on the economy and inflation.
The Indian rupee depreciated 16 paise to settle at a fresh lifetime low of 96.86 against the US dollar, marking its ninth consecutive session of decline, driven by elevated global crude prices and a strong dollar.
Prime Minister Narendra Modi and French President Emmanuel Macron discussed the escalating situation in West Asia, emphasising the need for dialogue and diplomacy to restore peace and stability in the region.
The Indian government has issued a stern warning to industrial users who are reportedly procuring cheaper retail fuel instead of industrial-grade fuel, leading to significant losses for state-run oil marketing companies (OMCs) and potential local shortages. This diversion, driven by a substantial price difference between retail and bulk diesel, is adversely impacting OMCs, which are absorbing daily losses of approximately 550 crore to keep retail prices stable.
Analysts predict that developments in West Asia and their impact on crude oil prices will heavily influence investor sentiment in the upcoming week. Global market trends, foreign investor activity, and rupee-dollar movement will also play a role.
Ongoing geopolitical tensions in West Asia have slowed deal momentum in Dubai's luxury residential market, but Indian high-net-worth individuals (HNIs) are not exiting their marquee assets, with any 'discounted' resale deals attributed to investor liquidity stress rather than geopolitical flight.
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