Iran has submitted its latest proposal aimed at advancing negotiations to end the ongoing West Asia conflict with the US, days after the Islamic Republic submitted a fresh proposal through regional intermediaries to cease its military operations in the Strait of Hormuz, which is likely to get rejected by Washington.
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
Domestic LPG and commercial cylinder prices in India have seen a significant increase, driven by rising global energy costs linked to the conflict in West Asia. This marks the second price hike in less than a year, impacting households and businesses.
Maharashtra Chief Minister Devendra Fadnavis rode a motorcycle to work following Prime Minister Modi's appeal to cut down fuel consumption amid the ongoing conflict in West Asia.
An Indian national has reportedly been killed in an attack carried out by Iran using a 'suicide' boat against a US-owned oil tanker near Iraq. The incident has raised concerns about the safety of seafarers in the region.
Gold prices in the national capital surged by Rs 600 to Rs 1.65 lakh per 10 grams, extending gains for the third consecutive day, while silver rebounded by Rs 5,000 to Rs 2.71 lakh per kilogram, driven by geopolitical tensions and inflation concerns.
Analysts predict that the ongoing conflict in West Asia, crude oil prices, and global trends will significantly influence the Indian stock market in the upcoming holiday-shortened week. Foreign investor activity and rupee movement will also be crucial.
New completions in India's office real estate sector fell by 36 per cent to 9.7 million square feet in Q1 2026, the lowest in four quarters, primarily due to developers adopting a cautious stance amid global uncertainties, particularly in Bengaluru, Hyderabad, and Mumbai. Despite this, office absorption increased by 20 per cent, indicating strong occupier demand.
The United States and Iran could be set to announce an agreement soon to achieve a complete solution to the hostilities in West Asia, as reported by Saudi state media Al Arabiya on Wednesday, citing sources familiar with the ongoing negotiations.
The representative of Iran's Supreme Leader in India expressed gratitude towards Indians, calling India a land of 'loyalty and humanity'.
Chinese foreign ministry spokesperson Mao Ning said that the country believes that dialogue and negotiation are the only viable solutions to resolving disputes and that the continued escalation of the conflict serves no one's interests.
India's consumption stocks, which have outperformed the broader market, are now facing significant pressure due to a gradual rise in fuel prices and the potential for higher inflation. Analysts warn that companies may be forced to pass on increased input costs to consumers, potentially hurting demand across both staples and discretionary categories, with a looming threat of deficient monsoon rainfall further exacerbating inflationary concerns.
The US and Iranian delegations left Pakistan after failing to reach an agreement in historic talks aimed at resolving the West Asia conflict and stabilising global energy markets.
Amidst escalating tensions in West Asia, Russian President Vladimir Putin is actively calling for de-escalation and political resolution, engaging with Iranian and US counterparts to navigate the complex conflict landscape.
The Board of Control for Cricket in India (BCCI) today announced the schedule for the first phase of the Indian Premier League (IPL) 2026, to be played from March 28 to April 12, 2026.
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.
The measures announced by it risk backfiring, disrupting the foreign exchange market, and intensifying the very pressures they seek to contain, with broader consequences for the economy points out Rajeswari Sengupta.
Foreign Portfolio Investors (FPIs) have withdrawn Rs 19,837 crore from Indian equities in the first two trading sessions of April, extending a significant selling trend from March, driven by geopolitical uncertainty, rising crude oil prices, and a depreciating rupee.
Congress leader Rahul Gandhi has criticised Prime Minister Narendra Modi's foreign policy and his remarks referencing the COVID-19 pandemic in relation to the West Asia situation.
The proposed facility seeks to simplify and speed up PF withdrawals by allowing Employees' Provident Fund Organisation (EPFO) subscribers to access up to 75 per cent of their balance through ATMs and UPI-based systems, while retaining at least 25 per cent in their accounts.
Prime Minister Narendra Modi and US President Donald Trump discussed the Middle East crisis, with a focus on the Strait of Hormuz.
The Reserve Bank of India (RBI) has opted to keep its key interest rates unchanged at 5.25%, anticipating a global economic recovery following a ceasefire in the US/Israel-Iran conflict, despite ongoing inflationary pressures and currency fluctuations.
India has welcomed the ceasefire between the US and Iran, advocating for de-escalation, dialogue, and diplomacy to secure lasting peace in West Asia.
'OMCs are incurring losses of Rs 1,000 crore per day due to the West Asia crisis.'
Iran has not closed the Strait. It remains open; however, due to current conditions and circumstances, ships are unable to pass through the Hormuz. Otherwise, Iran never wanted the Strait to be closed or blocked, the supreme leader's representative said.
'FPIs are unlikely to return unless there is equilibrium between valuation premium and earnings growth.'
Indian Grandmaster Koneru Humpy is uncertain about competing in the Candidates Tournament in Cyprus due to safety concerns amid the West Asia conflict, despite assurances from FIDE.
Iran has reiterated that key preconditions must be met before negotiations with the United States can begin to resolve the conflict in West Asia, including a ceasefire in Lebanon and the release of blocked Iranian assets.
Former Maldives President Mohamed Nasheed advocates for building democratic institutions over military intervention in resolving international conflicts, particularly in the context of the escalating West Asia crisis. He also discusses the impact of the conflict on the Maldives' tourism-dependent economy and calls for a stronger, more understanding India in the Indian Ocean Region.
India has voiced its deep concern over reports of increasing civilian casualties in Lebanon due to Israeli strikes, emphasising the protection of civilians and the importance of international law.
Iran's claim comes after United States President Donald Trump confirmed that the military rescued the second F-15 crew member, who had gone missing after Iran downed the jet amid the West Asia conflict.
The Indian government has increased the export duty, or windfall tax, on diesel to Rs 55.5 per litre and on aviation fuel (ATF) to Rs 42 a litre, effective immediately, to boost domestic availability and prevent exporters from exploiting global price differences.
Both Houses of Parliament were adjourned sine die, concluding a Budget session marked by the passage of key legislations and the defeat of a Constitution amendment bill on women's reservation. The session saw frequent opposition protests and discussions on various issues, including the West Asia conflict.
Several residents of Amethi, Uttar Pradesh, including students, are stranded in Iran due to ongoing joint strikes by the United States and Israel, prompting calls for government assistance.
Indian stock market benchmarks Sensex and Nifty rebounded strongly after a two-day decline, driven by falling crude oil prices and positive global cues amid hopes of de-escalation in the Middle East.
Prime Minister Narendra Modi has appealed to citizens to adopt austerity measures, including avoiding destination weddings abroad and reducing edible oil consumption, to mitigate the impact of the West Asia crisis on India's economy.
"The world might face a food crisis if the war continued till the end of April, as it could have a dramatic impact on planting in Europe and North America," said Matt Simpson, CEO of Brazil Potash.
The International Cricket Council (ICC) has cancelled its Board and committee meetings due to the ongoing military conflict in West Asia, according to a report by ESPNcricinfo on Tuesday.
India's foreign exchange reserves saw a significant drop of USD 7.794 billion, settling at USD 690.693 billion for the week ending May 1, as reported by the RBI, reflecting the impact of global events and central bank interventions.
The Indian rupee depreciated significantly against the US dollar, reaching a new all-time low due to rising oil prices, a strong dollar, and ongoing geopolitical concerns. Domestic equity market declines and foreign investment outflows further contributed to the rupee's weakness.
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