Indian benchmark indices Sensex and Nifty surged significantly in early trade, mirroring a global rally and a sharp decline in crude oil prices following the finalisation of a peace deal between the US and Iran to end their 107-day conflict and reopen the Strait of Hormuz.
Iran's Deputy Foreign Minister Kazem Gharibabadi confirmed a peace deal with the United States, stating that Tehran will enter a 60-day negotiation period only after verifying Washington's commitments to ending hostilities, lifting the blockade, and releasing Iranian assets.
A recently finalised peace deal between the US and Iran, set to be signed on June 19, is expected to significantly benefit India's economy by boosting exports to West Asia, stabilising the rupee, and easing inflationary pressures, according to exporters and experts.
External Affairs Minister S Jaishankar has engaged in multiple conversations with his Iranian counterpart to secure safe passage for Indian merchant vessels through the Strait of Hormuz amidst escalating tensions in West Asia.
Iran's Islamic Revolutionary Guard Corps (IRGC) claims control of the Strait of Hormuz and reports striking a US destroyer, escalating tensions in the Middle East following retaliatory strikes between Iran, the US, and Israel.
Fathali further stated that Tehran has instructed its embassy in India to facilitate the Indian government, ensuring smooth operations amid the ongoing regional conflict.
A drone boat, co-founded by Indian-American Vibhav Altekar, successfully rescued two crew members of a downed US Army Apache helicopter near the Strait of Hormuz, marking a first-of-its-kind autonomous surface vessel rescue for the US Armed Forces.
US Vice President J D Vance is currently in Switzerland, leading critical technical talks with Iran to advance diplomatic efforts on Iran's nuclear programme and secure a lasting ceasefire in Lebanon, following a recently signed memorandum of understanding aimed at de-escalating West Asian hostilities.
Speaking to reporters during a cabinet meeting at the White House on Thursday, Trump said the US had engaged in 'very substantial talks' with Iranian officials and described the tanker movement as proof of seriousness in the discussions.
India has strongly protested to the United States after three merchant ships with Indian crew members were attacked by the American military off the coast of Oman, resulting in the deaths of three Indian nationals.
Crude oil prices reached a new record high in futures trade, both domestically and internationally, as escalating military tensions between the US and Iran in West Asia continue to fuel market volatility. Diplomatic efforts concerning the Strait of Hormuz are being closely watched for potential price stabilisation.
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.
Iran's Revolutionary Guard Corps (IRGC) has claimed responsibility for strikes on an American base, alleging it was in response to earlier aerial attacks near Bandar Abbas Airport. The incident follows reports of confrontations between Iranian and US forces in the Strait of Hormuz.
Defence Minister Rajnath Singh assures India's energy security amidst West Asia tensions, highlighting naval protection of tankers and readiness to counter cross-border terrorism.
Donald Trump claims a peace deal with Iran is 'largely negotiated' after calls with Israel and other allies, but Iran rejects Trump's claim on Strait of Hormuz.
Top leaders from the US, Iran, and Pakistan, along with other nations, have gathered in Switzerland for high-level talks aimed at restoring peace in West Asia. These negotiations follow a recently signed Memorandum of Understanding between the US and Iran, initiating a 60-day window for a deal. Discussions focus on Iran's nuclear programme and the fragile interim peace deal, amidst renewed tensions and the fluctuating status of the Strait of Hormuz.
Prime Minister Narendra Modi urged US President Donald Trump to prioritise the safety of Indian seafarers in the Strait of Hormuz during the implementation of Washington's proposed Iran peace deal, as both leaders focused on repairing strained bilateral relations at the G7 summit.
US President Donald Trump has stated that the war with Iran is "close to over," while the US Central Command reports blocking traffic to Iranian ports.
Gold prices in the national capital fell by Rs 600 to Rs 1.64 lakh per 10 grams, influenced by tentative progress in US-Iran negotiations, which reduced demand for precious metals. However, unresolved tensions surrounding the Strait of Hormuz continue to keep traders cautious.
The LPG squeeze on India's restaurant sector is the quotidian face of a deeper crisis.
The Kuwaiti Army reported intercepting hostile missile and drone attacks, while tensions escalate between the US and Iran with reported strikes and confrontations near the Strait of Hormuz.
In a bid to de-escalate Middle East tensions, the US has presented Iran with a comprehensive 15-point peace plan focusing on nuclear disarmament and regional stability in exchange for sanctions relief.
India's wholesale price index (WPI) inflation surged to 9.68 per cent in May, up from 8.26 per cent in April, primarily due to significant increases in the prices of fuel and power, manufactured goods, and food items.
Indian benchmark stock indices, Sensex and Nifty, extended their winning streak for a third consecutive day, driven by positive global market trends and a significant softening of crude oil prices following a peace deal between the US and Iran.
The Islamic Revolutionary Guard Corps (IRGC) has announced a series of military operations against US and Israeli targets in retaliation for earlier airstrikes. The IRGC claims to have launched multiple missile and drone strikes, and has warned against any potential ground operations within Iranian territory.
Indian benchmark indices Sensex and Nifty recovered early losses to trade higher, supported by encouraging developments on the geopolitical front, specifically the US-Iran peace deal, and easing crude oil prices.
Indian benchmark indices Sensex and Nifty rallied in early trade, driven by a positive trend in global markets, cooling crude oil prices following a US-Iran peace deal, and fresh foreign fund inflows.
US President Donald Trump has dismissed media reports suggesting that diplomatic negotiations between Washington and Tehran have stalled, maintaining that dialogue persists despite intensifying geopolitical friction across the Middle East.
The advisory follows recent developments, including Israeli airstrikes targeting central and western Iran.
India's exports reached a six-month high, growing by 18 per cent to USD 45.2 billion in May, driven by electronic goods, petroleum products, engineering items, and pharmaceuticals. However, the trade deficit widened to USD 28.21 billion due to a 10 per cent rise in imports, particularly petroleum products and gold, amidst surging crude oil prices.
Global oil prices fell on Thursday to their lowest levels since before the outbreak of the Iran conflict, offering a significant economic tailwind for India, the world's third-largest crude importer, by easing inflation risks, reducing the import bill and improving the government's fiscal position.
Modi's comments on underlining the importance of ensuring the safety of seafarers came against the backdrop of growing anger in India over the killing of the three Indian crew members in a US military attack on a merchant ship off the coast of Oman last week.
The White House has not announced any decision following US President Donald Trump's meeting with his national security team regarding Iran, despite Trump's earlier indication that the discussion would lead to a 'final determination' on the matter.
US President Donald Trump has lauded India as an 'essential partner' and 'trusted ally' in addressing regional challenges, particularly its 'big role' in West Asia peace efforts, following discussions with Prime Minister Narendra Modi at the G7 Summit.
'Actual implementation of the 14-point agreement is proving hard to achieve let alone striking and sustaining a long-term treaty or deal.'
Indian stock markets extended their gains for a second consecutive session, with the Sensex closing 736 points higher, driven by a global equity rally and a significant drop in crude oil prices following the finalisation of a peace deal between the US and Iran to end their 107-day conflict and reopen the Strait of Hormuz.
India's foreign policy establishment is adjusting with alacrity in real time -- an extraordinary spectacle in itself, considering the manifest reluctance to indulge in public diplomacy critical of American moves, observes Ambassador M K Bhadrakumar.
Iran's Islamic Revolutionary Guard Corps (IRGC) has claimed to have targeted and destroyed hangars of F-35 fighter jets and struck 21 American air and naval bases across West Asia and the Gulf region, including the US Army's command and control centre at the Al-Azraq base in Jordan and the US Fifth Fleet headquarters in Bahrain.
US President Donald Trump and Russian President Vladimir Putin discussed the Iran conflict and its impact on global energy supplies during a phone call.
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."
