The Indian rupee weakened against the US dollar due to sustained foreign fund outflows and uncertainties in West Asia, although lower crude oil prices and a positive opening in domestic equity markets limited the losses.
Foreign investors have withdrawn over Rs 88,000 crore from Indian equities this month, driven by geopolitical tensions, a weak rupee, and concerns about rising crude oil prices.
Indian benchmark stock indices, Sensex and Nifty, declined for a second consecutive day, primarily due to selling pressure in IT, oil & gas, and select banking shares. Concerns over the US-Iran negotiations and a sluggish monsoon further dampened market sentiment.
India has gained the least since Russia invaded Ukraine in February 2022 and was penalised the most, while the US, China and the European Union emerged as the biggest beneficiaries from the war.
Indian benchmark indices, Sensex and Nifty, closed higher, primarily driven by bank stocks and encouraging US inflation data, which fuelled expectations of a less aggressive Federal Reserve monetary policy. However, escalating US-Iran hostilities tempered investor sentiment, leading to some profit-taking.
Indian stock markets saw a significant rebound, with the Sensex jumping nearly 790 points, primarily fuelled by strong buying interest in telecom, pharma, and private banking shares, despite a volatile trading session and a weakening rupee.
Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty 50 and BSE Sensex performance and key global triggers.
The United States has temporarily lifted sanctions on the sale of Iranian oil already in transit to ease soaring global crude prices, making 140 million barrels available to the market.
Indian OMCs have not been buying Iranian or Venezuelan crude which is actually sanctioned by US. OMCs have always complied with the price cap of $60 for Russian oil recommended by the US.
Maharashtra Chief Minister Devendra Fadnavis rode a motorcycle to work following Prime Minister Modi's appeal to cut down fuel consumption amid the ongoing conflict in West Asia.
Shares of Reliance Industries Limited (RIL) tumbled on Tuesday, posting its biggest single-day decline in 19 months, amid controversy over its purchase of Russian oil and profit-booking after recent gains.
Foreign investors have withdrawn a record Rs 1.14 lakh crore from Indian equities in March, driven by geopolitical tensions, a weakening rupee, and concerns about crude oil prices.
India's crude oil imports have jumped 5.3 per cent to 51.928 million tonnes in the first seven months of the current fiscal as against 49.289 million tonnes in the same period last fiscal.
Prime Minister Narendra Modi has appealed to citizens to adopt austerity measures, including avoiding destination weddings abroad and reducing edible oil consumption, to mitigate the impact of the West Asia crisis on India's economy.
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.
A vessel carrying 20,000 metric tonnes of Liquefied Petroleum Gas (LPG) arrived at Deendayal Port Authority in Kandla, Gujarat, after crossing the Strait of Hormuz amid the West Asia crisis.
'Investors shouldn't let fear dictate their decisions. The most important step is simply to begin investing.'
Benchmark equity indices Sensex and Nifty ended lower on Monday as renewed hostilities between the US and Iran and rising oil prices unnerved investors. The 30-share BSE Sensex declined 372.10 points, or 0.48 per cent, to settle at 76,728.37.
Indian benchmark indices, Sensex and Nifty, rebounded in early trade after two days of decline, driven by positive global market trends and strong buying in auto stocks. This recovery follows a robust performance in US markets and a rally in Asian markets, particularly Japan's Nikkei, fueled by AI-driven technology optimism. Track Sensex, Nifty on July 1.
India responds to US President Trump's claim that PM Modi assured him of halting Russian oil imports, stating it is diversifying energy sources to meet market conditions and safeguard consumer interests.
Petrol price has been increased by 87 paise in Delhi from Rs 98.64 to Rs 99.51 per litre. Diesel rates have gone up by 91 paise from Rs 91.58 to Rs 92.49.
Mcap of top 6 most valued firms drops nearly Rs 65k cr; Airtel biggest laggard
The Reserve Bank of India has increased its retail inflation projection for 2026-27 to 5.1 per cent, up from an earlier estimate of 4.6 per cent. This revision is primarily attributed to mounting input costs, driven by the pass-through of higher global energy prices to domestic petrol and diesel rates, which have seen significant increases since May.
The Reserve Bank of India (RBI) has opted to keep its key interest rates unchanged at 5.25%, anticipating a global economic recovery following a ceasefire in the US/Israel-Iran conflict, despite ongoing inflationary pressures and currency fluctuations.
The Opec output has fallen slightly in November at around 29 million barrels a day since last August.
The incident came shortly after a spokesperson from Iran's military warned that Tehran could target ports and docks in the United Arab Emirates following recent United States strikes on Kharg Island, a key hub for Iran's oil exports.
The Delhi government has announced a series of measures to conserve fuel, including work from home for government offices, increased use of public transport, and reduced fuel quotas for officers.
The Indian rupee depreciated significantly against the US dollar, reaching a new all-time low due to rising oil prices, a strong dollar, and ongoing geopolitical concerns. Domestic equity market declines and foreign investment outflows further contributed to the rupee's weakness.
China is slowing down, Europe is barely afloat and the US is meeting a larger chunk of its own demand.
Indian stock markets witnessed a significant rally, with the Sensex climbing 964.58 points and the Nifty reaching 24,330, driven by strong buying in blue-chip stocks, particularly in the IT and banking sectors, amidst optimism over Q1 earnings and a shift towards large-cap investments.
The government has to take a call on reducing or retaining the excise rate.
India has condemned the escalating attacks on commercial shipping in West Asia, particularly after a Thai-flagged vessel en route to India's Kandla Port was targeted in the Strait of Hormuz. The attacks have disrupted global oil and gas supplies, impacting India's energy imports.
Reliance Industries is expected to report largely flat performance for its fourth quarter (January-March, Q4) of FY26, with weakness in the oil-to-chemicals (O2C) business and muted retail growth likely to offset steady gains in the telecommunications segment.
The Indian government is dealing with the matter having in mind the national interests of this country in the first place, he said.
Indian benchmark indices, Sensex and Nifty, closed lower due to profit-taking after a four-day rally, influenced by weakness in Asian markets, with Trent shares tumbling over 12 per cent.
Indian stock markets rallied in early trade after US President Donald Trump announced a halt to planned military strikes on Iran, citing requests from Gulf leaders and ongoing "very big discussions" that could lead to a deal. This de-escalation, coupled with foreign fund inflows and gains in IT and Adani group stocks, contributed to the positive market sentiment. Track Sensex and Nifty on May 19, 2026.
Kumar Mangalam Birla urged young people to 'build in India, build for India and build for the world'.
The United States and Iran have reached an agreement in principle to immediately and permanently halt all military operations, lift sanctions, and work towards a comprehensive final agreement within 60 days, including a significant reconstruction package for Iran.
India has raised concerns with Iran over the safety of merchant shipping after two vessels were fired upon in the Strait of Hormuz, prompting them to turn back.
