Crude oil prices experienced a significant drop following the announcement of a US-Iran ceasefire and the reopening of the Strait of Hormuz, leading to heavy selling by traders.
US President Donald Trump on Thursday announced that Israel and Lebanon have reached an agreement to initiate a 10-day ceasefire, following intensified diplomatic efforts to reduce hostilities in the region.
Trump added that the United States would assist in managing the traffic buildup in the Strait of Hormuz.
Following a US agreement to a ceasefire, Iran claims victory and outlines conditions for a lasting peace deal, including control over the Strait of Hormuz and the removal of sanctions.
US Vice President J D Vance is expected to travel to Islamabad for peace talks with Iran to end the seven-week war, amid a fragile ceasefire and ongoing tensions.
Indian stock markets experienced a significant rally following the announcement of a US-Iran ceasefire, coupled with a drop in crude oil prices. The Sensex and Nifty both closed nearly 4 per cent higher, mirroring gains in global markets.
Pakistan's Prime Minister Shehbaz Sharif has welcomed the ceasefire between the US and Iran and invited delegations from both countries to Islamabad for peace negotiations.
After the United States and Iran agreed to a two-week ceasefire and expressed hope for lasting peace, Pakistan took much of the credit for playing mediator between the two countries. However, Jonathan Schanzer, Executive Director at the Foundation for Defence of Democracies and former US Treasury counterterrorism analyst, said Pakistan is deeply indebted to China.
US President Donald Trump on Wednesday backed Israel's ongoing military operation in Lebanon, stating that Hezbollah "was not included" in the recent ceasefire deal between Washington and Tehran, which halted the conflict in West Asia for two weeks.
US President Donald Trump maintains that the ceasefire with Iran is still in effect despite recent military engagements near the Strait of Hormuz. He also commented on a recent clash where US forces responded to Iranian attacks on US Navy destroyers.
The fragile ceasefire in West Asia between the US and Iran to halt the hostilities in the region for two weeks faces renewed uncertainty as Tehran reportedly moved to block the strategic Strait of Hormuz once again due to Israel's intensified offensive against Hezbollah in Lebanon, according to Iranian state media Islamic Republic News Agency (IRNA), which US President Trump says was "not included" as part of the ceasefire deal.
Pakistan has intensified its efforts to bring the US and Iran back to the negotiating table to end the war in West Asia, following President Trump's extension of the ceasefire. Pakistani officials have engaged with Iranian, Turkish, and British counterparts to promote dialogue and diplomacy for a peaceful resolution.
Pakistan has announced its commitment to continue facilitating talks between the United States and Iran, urging both nations to uphold the ceasefire agreement. Deputy Prime Minister Ishaq Dar highlighted Pakistan's role in mediating recent discussions and expressed hope for durable peace and regional stability.
Indian benchmark indices, Sensex and Nifty, experienced significant declines, with the Sensex falling 493 points and the Nifty dropping for the sixth consecutive day, primarily due to elevated crude oil prices reaching USD 91 per barrel and diminishing hopes for a diplomatic resolution in West Asia.
A mob in Manipur's Senapati district vandalised an Assam Rifles camp and set three vehicles on fire, hours after the paramilitary force conducted a search operation based on intelligence inputs about armed cadres.
Israel will continue its offensive in South Lebanon aimed at neutralising the threat from Hezbollah, which is backed by Iran.
US Secretary of War Pete Hegseth on Wednesday claimed that Tehran "begged" for a truce, maintaining that Washington achieved a "decisive military victory" during 'Operation Epic Fury.'
Pakistani forces allegedly violated the ceasefire along the Line of Control (LoC) in the Nowgam sector of Kupwara district, Jammu and Kashmir, on Friday, according to officials.
Marine war-risk premiums for West Asian shipping routes, particularly the Red Sea corridor, have surged by as much as 200 per cent due to renewed geopolitical tensions, with some high-risk transits seeing increases of over 1,000 per cent, according to industry brokers.
A joint Pakistan-Afghanistan jirga in Peshawar has called for an immediate ceasefire to de-escalate tensions between the two countries, emphasising dialogue and mutual respect.
Iran has strongly rejected former US President Donald Trump's assertion that the Strait of Hormuz is 'NEW U.S. TERRITORY', with top officials warning that his 'delusions' would be 'corrected' and highlighting the gap between Washington's claims and its actual influence over the strategic waterway.
Indian equity benchmarks, Sensex and Nifty, ended lower after a spectacular rally, with the Sensex tumbling 931 points, as renewed tensions in West Asia, particularly the risk to the ceasefire deal after Iran closed the Strait of Hormuz, dampened investor optimism.
Hours after ceasefire, US President Donald Trump on Wednesday warned against any country supplying military weapons to the Islamic Republic, stating that he would impose a 50 percent tariff on all goods exported to the United States.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf stressed on Friday (local time) that Tehran remains prepared for "full-scale defence" should the US betray the Memorandum of Understanding signed by the two countries last month.
An India-flagged LPG tanker, Jag Vikram, has successfully crossed the Strait of Hormuz following a temporary ceasefire between the United States and Iran, marking a significant development for India's energy security.
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.
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).
Hours after US President Donald Trump on Wednesday said that the ceasefire deal with Iran was "over", the US President indicated that Washington could launch another round of strikes against the Islamic Republic, following strikes on Tuesday, saying it had already hit Tehran "very hard" and warning of further attacks.
India Inc's first-quarter earnings season was significantly impacted by the West Asia conflict, leading to rising costs, calibrated price increases, and margin pressures across various sectors including FMCG, automotive, steel, and cement. Companies are implementing price hikes to protect profitability, with many anticipating further escalations if input costs remain elevated.
The government has withdrawn most provisions of the emergency natural gas supply regulation order imposed during the West Asia conflict after liquefied natural gas (LNG) shipments through the Strait of Hormuz resumed following a ceasefire.
Direct talks between the US and Iran, mediated by Pakistan, have failed to produce an agreement after 21 hours of negotiations, with disagreements over Iran's nuclear ambitions and sanctions proving insurmountable.
Pakistan capital Islamabad is emerging as the leading venue for the next round of technical negotiations between the US and Iran, a media report said Sunday.
US Vice President JD Vance has accused 'certain elements' within the Israeli government of attempting to manipulate American public opinion to prolong the conflict with Iran 'indefinitely', according to a Wall Street Journal report.
Iranian Foreign Minister Abbas Araghchi has urged Pakistan to use its diplomatic influence to help de-escalate the current regional situation and support efforts to maintain the ceasefire.
The United States and Iran are scheduled to hold their initial round of talks in Switzerland on Friday, following a ceasefire agreement virtually signed by US President Donald Trump and Iranian President Masoud Pezeshkian.
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.
Iranian Foreign Minister Abbas Araghchi has revealed the intense psychological pressure faced by Tehran's diplomatic delegation during peace negotiations with the United States, recalling a direct exchange with US President Donald Trump's Middle East envoy, Steve Witkoff, where he questioned the envoy about the constant military threats.
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.
Three Indian-flagged crude oil tankers, Desh Vaibhav, Desh Vibhor, and Sanmar Herald, successfully transited the Strait of Hormuz and are en route to India, even as Iran announced the closure of the critical waterway following Israeli strikes in Lebanon.
US Central Command (CENTCOM) forces conducted additional strikes against multiple targets in Iran, on Saturday (local time), at the commander in chief, US President Donald Trump's direction.
