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.
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.
Sharp differences between Iran and the UAE over the West Asia conflict were on full display during the BRICS foreign ministers' meeting in New Delhi, signalling the challenges the bloc faces in reaching a consensus position on the crisis.
US President Donald Trump stated that Iran is eager to make a deal and predicted a sharp decline in oil prices due to abundant supply, amidst a Senate resolution to limit his war powers in 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 President Donald Trump revealed he was on the verge of ordering attacks on Iran but postponed the decision after receiving calls from Qatar and the UAE, citing progress in peace talks.
Iranian Deputy Foreign Minister Kazem Gharibabadi has urged India to take the lead in bringing peace to West Asia, highlighting the UAE's role in stalling BRICS consensus on the conflict. Gharibabadi also discussed a new framework with Oman for merchant vessels passing through the Strait of Hormuz.
Indian benchmark equity indices, Sensex and Nifty, rebounded on Wednesday, recovering intraday losses, primarily driven by strong fag-end buying and a significant rally in blue-chip Reliance Industries.
In a significant diplomatic manoeuvre aimed at de-escalating regional tensions, Iran has reportedly submitted a "new proposal" to the United States through Pakistani intermediaries.
Earlier in the day, the ministry of external affairs "strongly advised" Indians to avoid travel to Iran until further notice, amid rising tensions and protests in the Islamic Republic.
Iran has submitted a fresh proposal to regional intermediaries offering to cease its military operations in the Strait of Hormuz, contingent upon a complete cessation of hostilities and the removal of the US blockade on Iranian maritime hubs.
In a lengthy post on Truth Social, Trump said negotiations with Iran were 'proceeding nicely' and argued that several Muslim and Arab nations should formally recognise Israel and join the Abraham Accords once a deal is reached.
Occasionally, the silence of the night shift would be shattered by an ear-splitting alarm: 'ALERT, ALERT... This is a security warning.' We were drilled to move away from the windows and avoid the lifts, recalls Krishna Kumar NP, a veteran Dubai-based journalist.
US President Donald Trump concluded his Beijing summit with Chinese President Xi Jinping, describing it as 'incredible' and highlighting 'fantastic trade deals' and a 'very strong' relationship between the two leaders.
US President Donald Trump is reportedly considering launching fresh strikes against Iran if ongoing negotiations fail to produce a peace deal, according to US media outlet Axios. This development comes as diplomatic efforts continue, with Pakistan and Qatar attempting to broker an agreement.
Dozens of US planes carrying ammunition landed in Tel Aviv, raising concerns about potential strikes on Iran. Negotiations between the US and Iran remain deadlocked over key issues, with both sides issuing fresh demands and warnings.
The escalating crisis in West Asia and its impact on the global energy supply chain are expected to dominate deliberations at a two-day meeting of BRICS foreign ministers to be hosted by India.
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 Iranian Foreign Ministry has stated that Tehran currently has no plans for a subsequent round of negotiations with the United States, according to the state media Tasnim news agency. This announcement comes as international mediators had hoped for a follow-up to the Islamabad talks before the looming ceasefire deadline.
US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu had a tense phone call over the future course of the war on Iran, with Washington favouring a deal instead of resuming strikes, according to US media reports.
Donald Trump has dismissed the ceasefire with Iran as being on 'massive life support', signalling continued tensions between the US and Iran amid ongoing negotiations.
This sharp Iranian response came after a series of uncompromising remarks from the US president.
Iran has announced the reinstatement of strict military control over the Strait of Hormuz, citing US violations of previous agreements regarding maritime passage. This decision follows claims of continued American blockade of Iranian ports and a statement from former US President Trump regarding the persistence of the naval blockade until a comprehensive peace agreement is reached.
Trump has said he would be present at the signing ceremony in Islamabad. Don't be surprised if the Pakistani hosts make it a grand event in the geopolitics of the region. Trump would love that, notes Ambassador M K Bhadrakumar.
Pakistan's Chief of Defence Forces Field Marshal Asim Munir held talks with Iranian leaders in Tehran to help resolve the conflict between the US and Iran, following a recent ceasefire agreement.
Petrol and diesel prices have been increased by Rs 3 per litre each, marking the first hike in over four years, as state-run fuel retailers pass on some of the impact from surging global crude prices, which have been exacerbated by the Iran war.
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.
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.
FIFA Secretary-General Mattias Grafstrom will meet Iranian FA officials in Istanbul to offer reassurance over Iran's participation in the World Cup, amidst concerns raised by recent geopolitical tensions and visa issues.
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 authorities have announced the arrest of 35 individuals on charges ranging from espionage to illegal trafficking, including alleged Mossad-linked suspects and affiliates of separatist organisations.
Iran on Monday formally rejected a US-proposed ceasefire deal amid the escalating conflict in West Asia, instead unveiling its own 10-point plan aimed at permanently ending the ongoing war, as reported by the Iranian state news agency Islamic Republic News Agency (IRNA).
Ebrahim Azizi, head of Iran's National Security Committee, stated that diplomatic talks with the US are governed by national interest and security, viewing negotiations as an extension of military efforts.
Iran has lodged a formal complaint with the United Nations, accusing the US of engaging in 'piracy' following the seizure of Iranian vessels. The complaint was detailed in a letter sent by Iran's UN envoy to the UN Secretary-General and the Security Council.
Head of the Iranian Parliament's National Security Committee Ebrahim Azizi on Saturday said that Iran has prepared a "professional mechanism" to regulate maritime traffic in the Strait of Hormuz through a designated route, which will be unveiled soon.
US Vice President J D Vance stated that while progress was made during peace talks in Islamabad, it is now up to Iran to further the discussions and address US concerns regarding its nuclear ambitions.
US Vice President JD Vance's visit to Islamabad for peace talks with Iran has been put on hold after Tehran failed to respond to American negotiating positions, according to a New York Times report.
Indian stock markets concluded Tuesday's trading session lower, reversing intraday gains due to late-session selling in blue-chip stocks like HDFC Bank and Reliance Industries. The decline was primarily driven by the Indian rupee hitting a new record low against the US dollar and elevated global crude oil prices, compounded by geopolitical uncertainties.
Donald Trump issued a fresh warning to Iran as negotiations remained deadlocked over uranium stockpiles, sanctions relief and war compensation. The US President's sharp remarks came just hours after Iranian media revealed Washington's core conditions for resuming negotiations.
US President Donald Trump is set to visit China for talks with President Xi Jinping on trade, global issues, and the Gulf war. The visit aims to address trade frictions and other key issues, with high expectations for progress.
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