Indian equity benchmark indices Sensex and Nifty declined in early trade, driven by persistent concerns over the unresolved US-Iran situation and continued outflows from foreign institutional investors.
Global energy markets saw a significant correction as oil prices nosedived following Iran's announcement that the Strait of Hormuz has been fully reopened, dismantling the 'war-risk' premium that had gripped the market.
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.
Prime Minister Narendra Modi has begun a six-day tour of the UAE, the Netherlands, Sweden, Norway and Italy to strengthen bilateral relations amid geopolitical challenges. The trip will focus on energy security, trade, and technological cooperation.
Analysts predict that developments in US-Iran negotiations, fluctuations in crude oil prices, and key global economic data will be the primary drivers of gold and silver prices in the coming week, with a strong focus on talks in Switzerland.
The Indian corporate bond market witnessed a significant surge, with companies raising nearly Rs 16,000 crore in a single day, primarily led by state-owned financial institutions and NBFCs. This strong momentum, driven by improved borrowing conditions and investor confidence, is expected to persist.
Indian benchmark indices Sensex and Nifty surged in early trade, driven by a rally in IT stocks and tempered expectations of US Federal Reserve monetary tightening following softer-than-expected US jobs data. Track Sensex, Nifty on July 3.
'The West Asia or the Gulf crisis has shown that what we develop as national infrastructure when things are not as bad as they could be, we forget to plan for adversities.'
Indian benchmark equity indices, the BSE Sensex and NSE Nifty, experienced a significant drop in early trade due to elevated oil prices, weak global market trends, and renewed fears of military operations in the Middle East following US President Donald Trump's statements regarding Iran. Track Sensex, Nifty on May 20.
Morgan Stanley analysts, led by Ridham Desai, predict that the next phase of the Indian market rally will be primarily driven by the April-June quarter (Q1FY27) corporate earnings season and the performance of the monsoon.
The Trump administration has announced a temporary authorisation for countries to purchase Russian oil stranded at sea, aiming to stabilise global energy markets amid rising oil prices and tensions with Iran.
US Secretary of State Marco Rubio on Tuesday said the United States would prefer to end its extension of waivers on Russian oil "as soon as possible", while noting that such decisions ultimately rest with the US Treasury Department.
A recently finalised peace deal between the US and Iran, set to be signed on June 19, is expected to significantly benefit India's economy by boosting exports to West Asia, stabilising the rupee, and easing inflationary pressures, according to exporters and experts.
Indian benchmark indices, Sensex and Nifty, extended their rally for the fourth consecutive day, driven by a significant drop in crude oil prices and strong performance from IT firms, despite mixed global cues.
US Marines boarded and searched a commercial ship, M/V Blue Star III, in the Arabian Sea on suspicion of violating the US blockade of Iranian ports, later releasing it after confirming it was not headed to Iran.
Gold prices experienced a significant decline in futures trading due to uncertainty surrounding geopolitical tensions in West Asia and conflicting statements regarding the conflict. Investors are also awaiting key macroeconomic data for further direction on interest rate cuts.
India will continue to purchase Russian oil based on commercial viability and energy security needs, irrespective of US sanctions waivers, according to a senior petroleum ministry official.
'When I look at India's relative valuations, these are by far the lowest I have seen in my 35-year career.' 'The relative 12-month trailing performance is among the weakest I have seen, and foreign investor positioning is at a 16-17 year low.'
When missiles fly in this region, they are never just aimed at military targets.
Trump's remarks marks one of the most direct rebukes yet from Washington to its allies over their refusal to support US-led military operations in Iran and over the energy crisis triggered by disruptions in the Persian Gulf.
Markets face risk of a prolonged bear phase as oil shocks and geopolitical tensions test inflation, growth and investor confidence globally, points out Debashis Basu.
Global oil prices fell on Thursday to their lowest levels since before the outbreak of the Iran conflict, offering a significant economic tailwind for India, the world's third-largest crude importer, by easing inflation risks, reducing the import bill and improving the government's fiscal position.
Live updates on the US-Israel-Iran war: Trump escalates threats, Iran retaliates, and oil prices surge as the Strait of Hormuz crisis disrupts global markets.
His remarks come after Trump warned Iran of severe consequences if it fails to reopen the strategically vital Strait of Hormuz, a key global energy transit route.
India addresses the escalating conflict in West Asia, outlining its diplomatic efforts to ensure energy security, the safety of its citizens, and advocating for a peaceful resolution through dialogue.
Brand USA, the destination marketing organisation for the United States, has launched a new social-first series called 'More to Love'. This campaign aims to thank international fans who visited the US during the FIFA World Cup and encourage them to return to explore more of the country's diverse attractions, including its national parks and landmarks. The campaign is being amplified globally, including in India.
Nayara Energy, a private fuel retailer in India, has increased petrol and diesel prices following a surge in global oil prices due to Middle East tensions. This move contrasts with state-owned retailers who continue to freeze prices.
The government will lift restrictions on the sale of petrol and diesel to commercial and industrial consumers from July 1, easing emergency measures imposed to manage fuel supplies.
Indian benchmark indices, Sensex and Nifty, saw a significant rebound in early trade, driven by a decline in crude oil prices. This drop followed US President Donald Trump's announcement of progress in negotiations with Iran towards an agreement to end the war, leading to a temporary pause in 'Project Freedom' to escort ships through the Strait of Hormuz. Track Nifty 50 and BSE Sensex performance and key global triggers.
Bessent indicated that the U.S. is evaluating the status of Iranian oil as the current campaign progresses.
Indian benchmark stock indices, Sensex and Nifty, extended their winning streak for a third consecutive day, driven by positive global market trends and a significant softening of crude oil prices following a peace deal between the US and Iran.
Indian benchmark equity indices, Sensex and Nifty, saw gains in early trade, driven by strong performance in banking shares and positive sentiment from Asian markets, alongside optimism surrounding the ongoing US-China Summit.
Indian benchmark indices Sensex and Nifty traded lower amid volatile trends, influenced by escalating geopolitical uncertainties in West Asia and fresh outflows from Foreign Institutional Investors (FIIs).
A high-stakes memorandum for a 60-day ceasefire between the United States and Iran is in its final stages, with negotiators working to close remaining gaps and avert further escalation in the region, including reopening of the Strait of Hormuz and the resumption of Iranian oil sales, according to an Axios report citing US officials.
India significantly increased its crude oil imports from Russia and the United Arab Emirates in June, securing supplies as the Strait of Hormuz began to reopen, with Russian barrels remaining attractive due to discounts and UAE supplies offsetting earlier uncertainties.
A spokesperson for the Central Khatam al-Anbiya Headquarters said that Iran's armed forces are prepared to intensify their response if aggression continues.
Indian stock market benchmark indices Sensex and Nifty closed nearly one per cent higher, extending their winning streak for a second day. This rally was driven by softening crude oil prices, positive geopolitical developments, and significant buying in blue-chip IT stocks, despite a broader global tech sell-off.
External Affairs Minister S Jaishankar discussed the West Asia conflict and its impact on energy supplies with his Russian counterpart Sergey Lavrov and EU's Foreign Policy chief Kaja Kallas.
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.
One Indian oil tanker successfully crossed the Strait of Hormuz, while others turned back after Iran signalled the waterway's closure, amidst rising tensions and disruptions to global energy flows.
