Indian benchmark equity indices experienced a significant downturn, with the Sensex plummeting over 800 points and the Nifty falling sharply, driven by rising crude oil prices, geopolitical tensions, and foreign capital outflows.
Uncertainty stemming from the US-Iran conflict has significantly impacted India's mutual fund industry, leading to a sharp decline in new fund offers (NFOs) in March, despite numerous regulatory approvals. This geopolitical tension, coupled with existing market strain and distributor hesitation, has dampened investor sentiment and affected overall inflows.
Indian equity markets experienced a volatile session, with the Sensex and Nifty recovering some ground after a significant plunge the previous day. Gains were driven by PSU bank, IT, and metal stocks, but concerns over rising fuel prices and geopolitical tensions limited the recovery.
If the conflict continues for a prolonged period, State-run oil companies may have to review retail fuel prices accordingly.
'We are profoundly energy-dependent on the Gulf. That dependency must now be redirected towards the United States, because we require American permission to procure oil.' 'We additionally require Iranian permission to acquire oil from that source. So India now has to seek two separate permissions merely to secure its energy supply.' 'Should we be compelled to source from America, or from Venezuela -- which is, in effect, American-controlled supply -- that will inevitably carry a price premium, an elevated shipping cost, and a considerably extended delivery timeline, given the distances involved.'
The Manipur government has handed over the investigation into a bomb attack in Bishnupur district, which resulted in the deaths of two children, to the National Investigation Agency (NIA). The decision follows protests and unrest in the region.
Despite Iran allowing 'non-hostile vessels' through the Strait of Hormuz, marine insurance premiums are expected to remain elevated due to persistent high-risk classifications and ongoing geopolitical tensions, with experts cautioning that the threat of attacks and collateral damage still exists.
Bisi Bele Bhaat, the traditional Indian one-pot meal that is the Southern answer to Khichdi, combines rice, lentils, vegetables, spices.
We cannot simply have a 60-65 per cent import dependency in LPG, the bulk of which comes from just one volatile region -- West Asia, points out R Jagannathan.
If there is one dish that captures the soul of slow cooking it has to be Khichda, an Eid special for the Bohri community.
'In such a scenario, Iran could proclaim itself victor, rebuild, re-enforce its diminished regional proxies to further destabilise neighbouring nations and take control of the Persian Gulf and Strait of Hormuz.'
Indian stock market benchmark indices Sensex and Nifty experienced a significant drop in early trade due to rising crude oil prices, bearish global market trends, and continuous foreign fund outflows.
'There is no shortage of fuel whatsoever.' 'India is stock surplus as far as petrol and diesel are concerned.'
It is time for India to step up and get Russia, China and Europe to agree to a joint appeal to all combatants. Time is of essence, tomorrow may be too late, asserts Colonel Anil A Athale, former head of the history division, ministry of defence.
Reserve Bank of India (RBI) Governor Sanjay Malhotra stated that recent regulatory measures to address foreign exchange market volatility, such as capping banks' net open positions, are temporary and aligned with current market conditions, not signalling any structural shift in policy.
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.
This weekend, Donald Trump has begun to say the quiet part out loud -- that he wants to take control of Iran's oil, a formulation more in line with his robber-baron style of international relations.
Amid escalating tensions with Iran, President Trump is urging nations dependent on Middle Eastern oil to deploy warships to the Strait of Hormuz to safeguard critical global energy supplies.
The United States, which entered this war in expectation of a short, sharp win along the Venezuela model, is now preparing for deeper involvement in a conflict it does not fully control, without the allies it typically relies on, against an adversary that is not behaving as expected, in a global environment that is already absorbing economic shock. Prem Panicker continues his must read daily blog on the Gulf War.
A group of Indian sailors recount their harrowing experience of being detained in Iran on suspicion of smuggling, and their subsequent escape from the country as regional tensions escalated into open conflict.
India is closely monitoring developments related to a proposed American legislation that seeks to impose up to 500 per cent tariff on countries procuring Russian crude oil.
Indian stock market indices Sensex and Nifty experienced a significant decline, driven by rising crude oil prices, sustained foreign fund outflows, and selling pressure in major bank stocks.
The Indian rupee fell to a record low against the US dollar due to rising crude oil prices, foreign institutional investor selling, and weak domestic equity market sentiment.
Congress leader Rahul Gandhi has accused Kerala Chief Minister Pinarayi Vijayan of aligning with forces that attack minorities, during election rallies in Kerala. He also criticised the CM on other issues including alleged corruption and economic failures.
US President Donald Trump on Friday referred to the Strait of Hormuz as a potential "gusher" for the world and spoken about "opening it for the world."
Former US President Donald Trump claimed victory over Iran, stating they agreed to never have a nuclear weapon and provided a 'significant prize' related to the Strait of Hormuz. He also suggested a change in Iranian leadership and acknowledged Pakistan's role in facilitating talks.
State-owned Bharat Petroleum Corporation Ltd (BPCL) is willing to dilute a 30-40 per cent stake in its upcoming greenfield refinery in Andhra Pradesh, with Gulf energy major Saudi Aramco and upstream player Oil India Ltd (OIL) likely to join as partners, a senior BPCL executive said.
India's foreign secretary Vikram Misri on Thursday participated in a high-level meeting hosted by the United Kingdom on the evolving situation in West Asia, underlining concerns over maritime security, energy supply disruptions and the need for diplomatic de-escalation.
US President Donald Trump and Russian President Vladimir Putin discussed the Iran conflict and its impact on global energy supplies during a phone call.
India's plans to ration the consumption of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) - in response to reduction in their import owing to war in West Asia - may fall short of what is needed to meet domestic needs.
Chaffing under public ridicule in the US as well as internationally for having 'lost' the war, Trump is under immense pressure to do something, cautions Ambassador M K Bhadrakumar.
Seven customers of Bharat Petroleum Corporation Limited (BPCL) in Indore have been booked for allegedly misappropriating over Rs 5.7 crore that was wrongly deposited into their digital wallets. Police are investigating how Rs 129.55 crore was incorrectly credited to around 1,000 BPCL 'Smart Fleet' customers.
The United States and Iran, with regional mediators, are reportedly discussing a potential 45-day ceasefire to prevent further escalation of conflict, including strikes on Iranian infrastructure and retaliation against Gulf states' facilities.
The Kremlin has announced it will not disclose data on crude oil exports to India, citing concerns about 'ill-wishers'. This decision follows reports of increased Russian oil supplies to India and China amid geopolitical tensions.
'We kept our bags packed, ready to jump into the sea. Many times, I felt it could be my last day.'
It may now be time to question the price India is paying for Israel's disregard of the serious undermining of India's energy security, asserts former foreign secretary Shyam Saran.
Jazz up green bell peppersto make a special accompaniment to your rotis or bhakri or bhaath.
The IRGC accused US and Israeli forces of using civilians as 'human shields' and warned of continued attacks.
Iranian military spokesperson said that stability in the region would be ensured only by the strength of Iran's armed forces and warned that energy and oil markets would not return to previous levels unless this reality was acknowledged.
Despite international crude oil rates crossing USD 100 per barrel due to Middle East tensions, the Indian government plans to maintain current petrol and diesel prices, ensuring uninterrupted fuel supply across the country.
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