India's manufacturing sector activity reached a three-month high in May, with the HSBC India Manufacturing Purchasing Managers' Index (PMI) rising to 55.0, driven by robust domestic demand, infrastructure projects, and new business gains despite ongoing inflationary pressures.
A 30-year-old man in Thane district, Maharashtra, allegedly committed suicide after a domestic quarrel. He locked his wife and children in a room before hanging himself. Neighbours found him and rushed him to the hospital, where he was declared dead.
Even if there is an early agreement on a cessation of hostilities in West Asia, the price shock will not go away easily, points out A K Bhattacharya.
Moody's Ratings has downgraded India's growth forecast for financial year 2026-27 (FY27) to 6 per cent from 6.8 per cent, attributing the revision to weaker consumption and industrial activity, elevated energy prices, and rising input costs stemming from the West Asia conflict.
The conflict may disrupt Budget 2026-2027 projections, squeezing revenues and raising subsidies, prompting fiscal adjustments and potential reforms, echoing lessons from the Covid-era shock, points out A K Bhattacharya.
The popularity of US President Donald Trump is waning with approval ratings at its lowest, according to former diplomat Mahesh Sachdev, who notes that with two-thirds of Americans not approving of a continuation of the war on Iran, Trump faces the risk of being impeached.
Airlines are cutting not only international services but also domestic flights, especially on routes projected to remain unprofitable in the coming weeks due to weak demand and high fares.
Suzuki Motorcycle India Ltd (SMIPL) has revised its domestic two-wheeler sales growth estimate for FY27 downwards from 7-8 per cent, citing rising commodity costs due to the ongoing West Asia conflict and its impact on consumer affordability.
HDFC Bank reported an 8.04 per cent increase in its March quarter consolidated net profit to Rs 20,350.76 crore, but highlighted potential near-term risks for small-business borrowers due to the West Asia conflict. The bank's CEO also addressed the recent resignation of its non-executive chairman and hinted at a potential top-level reorganisation.
The support will be provided to oil-marketing companies (OMCs) in the form of interest-free advances through the ministry of petroleum and natural gas. The OMCs, in turn, will use the fund to provide ATF price stabilisation support to Indian carriers operating domestic and international flights.
Prime Minister Narendra Modi convened the Cabinet Committee on Security to address the impact of the West Asia conflict on Indian citizens, focusing on safeguarding them from the conflict's effects and ensuring the smooth flow of essential supplies.
Air India, IndiGo, and Air India Express are temporarily reducing their domestic flights due to surging jet fuel prices and lower travel demand. The airlines are cutting flights by 10 to 22 per cent in the coming months.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
India has significantly reduced Aviation Turbine Fuel (ATF) prices for international airlines by 27% due to easing global fuel benchmarks, while simultaneously increasing commercial LPG and 5-kg cylinder prices to record highs.
Due to airspace restrictions resulting from the conflict in the Middle East, Indian domestic carriers have cancelled 278 international flights. Some airlines are operating limited services and special flights to assist stranded passengers.
Police in Gujarat have arrested a woman and her lover for allegedly plotting the murder of her husband, initially reported as an accidental death. The investigation revealed a conspiracy driven by domestic disputes and personal conflicts.
Defence Minister Rajnath Singh has emphasised the need for India to develop a robust drone manufacturing ecosystem, drawing lessons from recent global conflicts and highlighting the importance of self-reliance in drone technology.
'DRDO has been directed to license missile technologies to the private sector.'
The World Bank has affirmed India's strong position to withstand the current global energy shock, citing high foreign exchange reserves, fiscal space, and low inflation as key buffers supporting continued growth despite international headwinds.
Nomura has increased its March 2027 target for the Nifty 50 to 25,900, driven by strong corporate earnings and attractive market valuations, even as risks from the West Asia conflict and high oil prices persist.
Despite reporting a weaker-than-expected net loss of Rs 2,536 crore for Q4FY26, largely due to a significant non-cash forex loss, analysts remain optimistic about IndiGo's long-term prospects, citing strong demand trends, a favourable pricing outlook, and strategic cost-control measures.
Analysts predict that the ongoing conflict in West Asia, crude oil price fluctuations, and the US Federal Reserve's interest rate decision will significantly influence the Indian equity market this week.
A prolonged supply shock can transmit to lower incomes, and dampen confidence and sentiment, warns Aditi Nayar, chief economist, head-research and outreach, ICRA.
A 65-year-old man was allegedly killed by his son in Jharkhand's Latehar district following a domestic dispute. The accused has been arrested, and the police are investigating the incident.
Iran's national soccer team attended visa appointments in Ankara, Turkey, applying for Canadian visas and some players also submitting applications for US entry ahead of the 2026 FIFA World Cup, which will be co-hosted by the United States, Canada and Mexico.
Domestic Institutional Investors (DIIs) have significantly increased their holdings in Nifty 500 companies, reaching a record 20.9 per cent by the end of March, while Foreign Portfolio Investors (FPIs) reduced their ownership to an all-time low of 17.1 per cent, according to Motilal Oswal Financial Services.
Prime Minister Narendra Modi held a virtual meeting with chief ministers to review preparedness and plans in light of the West Asia conflict, emphasising the importance of national unity and enhanced security measures.
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
The World Para Athletics Grand Prix in New Delhi has been significantly affected by the conflict in West Asia and the month of Ramzan, leading to a sharp decline in international participation.
A 42-year-old woman in Uttar Pradesh was allegedly killed by her nephew with a spade following a dispute between two families. Two children were also injured when they intervened. Police are investigating the incident and have detained two women for questioning.
Analysts predict that developments in West Asia and their impact on crude oil prices will heavily influence investor sentiment in the upcoming week. Global market trends, foreign investor activity, and rupee-dollar movement will also play a role.
Indian benchmark indices Sensex and Nifty experienced a sharp decline in early trading due to escalating tensions in the Middle East, driving crude oil prices higher. Global market bearishness and foreign fund outflows further contributed to investor unease.
As tensions in the Middle East approach a critical juncture, reports have surfaced regarding a draft memorandum of understanding between the United States and Iran aimed at de-escalating the ongoing conflict, Iranian state media reported on Wednesday.
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.
Petrol and diesel prices in India have seen their fourth increase in less than two weeks, pushing cumulative hikes to nearly Rs 7.5 per litre since May 15, reaching their highest levels since May 2022. This surge, driven by global crude oil costs and the Iran conflict, is expected to exacerbate inflationary pressures and raise transportation costs across the economy.
India Ratings and Research predicts the Reserve Bank of India (RBI) will maintain the repo rate at 5.25 per cent throughout FY27, despite potential inflationary pressures from higher fuel prices, with inflation expected to remain within the central bank's tolerance band.
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 United States military and Kuwaiti air defence forces successfully intercepted multiple Iranian ballistic missile and drone attacks targeting Kuwait and Bahrain, with Iran's state broadcaster claiming American military installations in Kuwait were deliberately targeted.
Indian equity markets experienced a significant downturn as geopolitical tensions in West Asia, rising oil prices, and foreign fund outflows dampened investor confidence. The Sensex and Nifty both fell sharply in early trade, reflecting broader global market weakness.
China is significantly expanding its nuclear power sector, aiming to become a global leader by 2030. The country has the capacity to construct up to 50 nuclear reactors simultaneously, reducing reliance on fossil fuels.
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