'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
US President Donald Trump on Thursday said that he has directed the country's Navy to take decisive action against any vessels attempting to lay mines in the strategically vital Strait of Hormuz amid escalating tension over the virtual control of the waterway between Tehran and Washington.
Indian stock markets tumbled sharply with the Sensex falling 800 points and nearly 4 lakh crore wiped out in a single session. Here are the 6 key factors, including rupee weakness and global cues, behind the crash.
Benchmark indices Sensex and Nifty tumbled in early trade on Friday after a two-day rally, tracking a weak trend in global peers, as the US-Iran conflict continues to be a key overhang for the markets. Track Sensex, Nifty50 movement and key market drivers for March 27, 2026.
Crude oil prices experienced a sharp decline after US President Donald Trump announced a temporary halt to military strikes on Iran's energy infrastructure, easing geopolitical tensions and supply disruption fears.
Admiral Alireza Tangsiri was accused of leading efforts to disrupt maritime trade, including actions affecting the Strait of Hormuz.
Revenue collection next financial year may be affected, and, along with this, subsidies on food and fertilisers can go up if the war in West Asia drags for long, according to experts.
Rising living expenses, fear of contract hiring cast shadow on real gains.
The Indian rupee saw a significant appreciation against the US dollar following President Trump's suspension of military strikes against Iran and the Reserve Bank of India's decision to maintain its key interest rate. Market sentiment was further buoyed by positive comments from the RBI regarding the health of the banking sector.
National Security Advisor Ajit Doval hosted Bangladesh Foreign Minister Khalilur Rahman for a dinner meeting, signalling efforts to repair bilateral ties after a period of heightened diplomatic tension.
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 Central Command (CENTCOM) released footage of a maritime operation where Marines boarded an Iranian-flagged vessel, the Touska, in the Gulf of Oman, leading to heightened tensions and threats of retaliation from Iran.
Iranian forces fired upon three commercial vessels in the Strait of Hormuz, with one possibly headed for Gujarat, raising concerns about maritime security in the strategic waterway.
The logic of war plus the gathering storms in US politics as the midterms loom large leave him with no real alternative but to negotiate, points out Ambassador M K Bhadrakumar.
The Indian government has doubled the daily quota of market-priced 5-kg LPG cylinders for migrant workers to ensure stable fuel supplies amidst global disruptions. This move prioritises household cooking gas and addresses the needs of migrant workers who often lack regular connections.
FSN E-Commerce Ventures, the parent company of Nykaa, anticipates its consolidated net revenue for Q4 FY26 to achieve high 20 per cent year-on-year growth, marking its strongest performance in 12 quarters, fueled by accelerated growth in both its fashion and beauty verticals.
Tea planters in Darjeeling have raised that a shortage of commercial LPG, triggered by the ongoing conflict in West Asia, could hit tea processing during the first flush, the delicate early-season harvest that commands the highest premiums and often sets the tone for the year.
If the conflict continues for a prolonged period, State-run oil companies may have to review retail fuel prices accordingly.
One of the most uncivilised characteristics of this war has been the total disregard for international law and the laws of armed conflict, asserts Vice Admiral Biswajit Dasgupta (retd).
The Indian rupee experienced a significant surge against the US dollar following the Reserve Bank of India's measures to restrict banks from onshore forward markets. Despite this, the rupee remains under pressure from foreign capital outflows, a strong dollar, and rising crude oil prices.
'We should expect extreme heat, extreme rains, floods, landslides and maybe cyclones. Not just this year, in the coming year as well.'
"A number of Indian IT companies that were looking at long-term investments in the region, as a second and third level investment zone, will have to now re-look plans," said Ameet Nivsarkar, vice-president for global trade and development, National Association of Software and Services Companies (Nasscom).
Indian exporters are unlikely to receive direct tariff refunds from the US's $166 billion payout, but the rollback of reciprocal duties is enhancing their pricing power and improving order prospects, particularly in textiles, apparel, and engineering goods.
India has denied making any payments to Iran to secure safe passage for its vessels through the Strait of Hormuz, following reports that Indian vessels were fired upon in the region.
The big question is whether Trump is any longer in command of the situation. For all practical purposes, the war seems set to cascade as the US is preparing for a potential ground operation in Iran and threatens to destroy 'bridges next, then electric power plants', points out Ambassador M K Bhadrakumar.
US President Donald Trump said on Wednesday that Washington is considering a "joint venture" with Iran to secure the Strait of Hormuz, following his announcement of a two-week ceasefire.
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.
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
Under the defence partnership, India and the UAE are eyeing defence industrial collaboration and cooperation in advanced technologies, cyberspace training, special operations, interoperability of their militaries and counter terrorism.
Trump also called upon China, France, and Japan, among others, to send ships to the Strait of Hormuz.
India and France have elevated their relationship to a 'special global strategic partnership,' with increased cooperation in defense, trade, and technology. The leaders also inaugurated a helicopter assembly line in Karnataka.
'Strikes into the Gulf countries are proof that the security guarantees offered by the US are ineffective and that the Gulf countries cannot rely on American security assurances for their safety.'
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.
Infosys reported a 20.8 per cent increase in consolidated net profit to 8,501 crore for the January-March quarter of FY26, with revenue from operations rising 13.4 per cent to 46,402 crore. The IT major has guided for a 1.5 to 3.5 per cent revenue growth for FY27, driven by momentum in financial services, utilities, and emerging AI services, despite a volatile macroeconomic environment and geopolitical risks.
US Energy Secretary Chris Wright said that long-term oil supplies are 'abundant' and there are no worries regarding that, but in the short term, there is a need to get oil on the market.
28 Indian vessels carrying 778 seafarers are stranded in the Persian Gulf, prompting government monitoring and coordination to ensure their safety and security.
A senior US official has emphasised India's crucial role in maintaining peace and stability in the Indo-Pacific region and ensuring a balanced power dynamic in Asia, advocating for stronger defence ties between the two nations.
IRGC said vessels seeking to sail through the strategically critical Strait of Hormuz must obtain Iran's approval; otherwise, they could become targets of Iranian attacks.
The US has temporarily permitted India to accept Russian oil already on ships to ensure energy supplies amid the conflict with Iran. This short-term measure is not expected to significantly benefit Russia financially.
'In investing, poor sentiment is always a good vintage to build a portfolio.'
