An India-bound container vessel, the 'Epaminondes', was seized by Iran's Islamic Revolutionary Guard Corps in the Strait of Hormuz, with an Indian merchant navy officer from Rajasthan among the crew, his family reported. The family has appealed to the Indian government for assistance in ensuring the safe return of the crew.
The remarkable rise of smallcaps reflects the emergence of a broad set of specialised businesses operating in industries where the sectoral tailwinds remain considerably stronger than macroeconomic headwinds, points out Debashis Basu.
Small- and midcap stocks have delivered their biggest monthly rally in 12 years, but rising oil prices and global tensions could make the road ahead volatile.
Indian benchmark indices, Sensex and Nifty, rallied significantly following a sharp decline in crude oil prices. This decline was triggered by US President Donald Trump's announcement of progress in negotiations with Iran towards a peace agreement, which led to renewed optimism in global markets.
An oil tanker carrying 24 Indian seafarers reported a fire off the coast of Oman, with all crew members confirmed safe. The incident occurred amidst renewed hostilities between Israel and Iran, who exchanged attacks on petrochemical facilities.
India has expressed 'deep worry' and strongly protested to the US after three merchant ships carrying Indian crew members came under attack from the American military off the coast of Oman in four days, resulting in the deaths of three Indian seafarers.
Former US President Donald Trump has criticised Iran's stance on the Strait of Hormuz, calling it a form of 'extortion' amid ongoing negotiations for a peace deal. The remarks come as Iran considers imposing transit fees on vessels crossing the strategic waterway.
Donald Trump has issued a stern warning to Iran regarding alleged fees imposed on tankers passing through the Strait of Hormuz, further escalating tensions amid fragile ceasefire agreements and ongoing disputes with Israel over Lebanon.
Companies are already diversifying sourcing, raising prices, and reworking operating models as the disruption drags on.
India has summoned the US charge d'affaires for the second time this week to protest American Navy strikes on three commercial vessels off the coast of Oman, which resulted in the deaths of three Indian crew members. New Delhi has demanded an end to these attacks, acknowledging that the US Navy targeted the ships, some of which were reportedly non-compliant with US sanctions.
Indian benchmark indices Sensex and Nifty experienced a decline due to renewed geopolitical concerns in the Strait of Hormuz, a strained US-Iran ceasefire, and the rupee hitting a record low against the US dollar.
Former Central Command chief David H Petraeus suggests the US and Iran are likely to extend their ceasefire beyond the initial two-week period, citing willingness from both sides to continue negotiations.
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.
An Iranian tanker successfully bypassed the US Navy to deliver crude oil to the Asia-Pacific region, despite ongoing tensions and a US blockade.
US Marines boarded and searched a commercial ship, M/V Blue Star III, in the Arabian Sea on suspicion of violating the US blockade of Iranian ports, later releasing it after confirming it was not headed to Iran.
China and Pakistan have jointly proposed a five-point peace plan to address the ongoing conflict in West Asia, focusing on de-escalation and safe passage through the Strait of Hormuz.
The United States military and Kuwaiti air defence forces successfully intercepted multiple Iranian ballistic missile and drone attacks targeting Kuwait and Bahrain, with Iran's state broadcaster claiming American military installations in Kuwait were deliberately targeted.
A potential agreement between the United States and Iran, including a comprehensive ceasefire and gradual lifting of US sanctions, may be announced soon, according to reports. The agreement aims to de-escalate tensions and establish a framework for resolving disputes.
US President Donald Trump in an exclusive interview to Axios on Wednesday, said that he would continue to keep the naval blockade until Iran agrees to deal with the United States by addressing America's concerns about the nuclear programme.
US Special Envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi are reportedly heading to Switzerland for a new round of US-Iran negotiations, following a recently announced memorandum of understanding to end hostilities in West Asia and a ceasefire between Israel and Hezbollah.
In a development that could reshape West Asia's security landscape, US President Donald Trump announced Friday that he will convene an emergency meeting in the White House Situation Room to make a final decision on a broad, multi-part peace deal with Iran.
India has strongly protested a US military strike on the commercial vessel Settebello off the Oman coast, which left three of the 24 Indian crew members missing. The US Central Command stated it disabled the Palau-flagged vessel for violating a blockade of Iranian ports.
In a significant diplomatic development, US and Iranian negotiators have reportedly reached a tentative 60-day memorandum of understanding (MoU) aimed at extending a fragile ceasefire and paving the way for formal talks regarding Iran's nuclear programme.
President Trump has been briefed on potential military actions against Iran, including strikes on infrastructure and control of the Strait of Hormuz, even as negotiations continue. He maintains economic pressure is the primary strategy, while legal questions arise over war powers.
India has welcomed the ceasefire between the US and Iran, advocating for de-escalation, dialogue, and diplomacy to secure lasting peace in West Asia.
Analysts predict that the ongoing US-Iran conflict, fluctuations in crude oil prices, and foreign institutional investor (FII) flows will be the primary factors influencing Dalal Street this week, with inflation concerns adding to investor anxiety.
Trump added that the United States would assist in managing the traffic buildup in the Strait of Hormuz.
US President Donald Trump on Wednesday (local time) claimed that Iran has asked US for a ceasefire. He said that Washington would consider it once the Strait of Hormuz is open.
Iran has strongly criticised US plans to impose a blockade on its ports, warning that maritime security across the Persian Gulf region would be jeopardised if its own security is threatened.
Donald Trump has issued a stern warning to Iran, stating that the US will take a tougher stance if a diplomatic resolution regarding its nuclear programme is not reached soon.
Iranian Foreign Minister Abbas Araghchi is in India for a BRICS foreign ministers' meeting, where discussions will focus on the escalating crisis in West Asia and its impact on global energy supply chains.
The rupee recovered to 95.18 against the US dollar after hitting an all-time intra-day low of 95.44. The recovery was supported by possible RBI intervention amid renewed Gulf tensions and rising crude oil prices.
India's trade with West Asia saw a significant decline of over 28% in April, marking the second consecutive month of contraction. This downturn is attributed to severe shipping disruptions stemming from the ongoing conflict involving the US, Israel, and Iran, particularly impacting the crucial Strait of Hormuz waterway.
The Quad grouping has expanded cooperation in critical minerals and energy, while unveiling new measures to boost maritime surveillance and port infrastructure across the Indo-Pacific. This move comes against the backdrop of China's growing military posturing in the region, with ministers reiterating strong opposition to destabilising actions and expressing serious concerns over militarisation of disputed features.
US Vice President JD Vance on Friday dismissed reports suggesting that Iran would receive financial incentives merely for signing the peace deal between Washington and Tehran aimed at ending the hostilities in West Asia, calling such claims "fake information".
The United States and Iran could resume negotiations as early as next week in Islamabad, according to a report by The Wall Street Journal citing people familiar with the matter.
Indian benchmark stock indices, Sensex and Nifty, recorded their fourth consecutive day of declines, driven by selling in FMCG, financial, and auto sectors. The downturn is attributed to fresh tensions in the Middle East, uncertainty surrounding the US-Iran 60-day ceasefire, and elevated crude oil prices.
In a post on Truth Social, Trump used unusually harsh language to convey his message, reminding Tehran of his deadline to 'make a deal' or 'open the Strait'.
The Indian rupee is highly vulnerable among Asian currencies, with Barclays and MUFG warning of a potential depreciation towards 100/$ if the West Asia conflict persists, driven by widening current account deficits and elevated crude oil prices.
US President Donald Trump is reportedly considering military action against Iran due to stalled negotiations and Tehran's approach to its nuclear issue, according to CNN sources. Divisions within the Trump administration have emerged over the next course of action, with some officials advocating for a more aggressive approach through targeted military strikes.
