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.
Indian equities declined on Friday, with the benchmark Nifty posting its worst weekly fall since September, as foreign investor sentiment remained weak amid tepid earnings growth and little progress on the India-US trade front.
Stock market benchmarks ended with losses for the third straight session on Wednesday as heightened geopolitical tensions, weak global peers and persistent foreign fund outflows unnerved investors.
'If the US stagnates and falls into a recession, the dollar will weaken, oil prices will also dip. This augurs well for India.'
From the 30-Sensex firms, Eternal declined by 4.02 per cent, followed by Bajaj Finance (3.88 per cent), Sun Pharma, InterGlobe Aviation, Trent, Asian Paints, Mahindra & Mahindra and Bajaj Finserv. HDFC Bank emerged as the only gainer from the pack.
From the 30-Sensex firms, Tata Steel, Asian Paints, Trent, State Bank of India, Hindustan Unilever, UltraTech Cement, ICICI Bank and Bharti Airtel were among the gainers. On the other hand, Infosys, Bajaj Finance, Bharat Electronics, Larsen & Toubro and HDFC Bank were the laggards.
The biggest bounce is in the realty sector, where the industry index jumped 80%. There's been a turnaround also in automobiles and ancillaries (up 45%). The pharma and health care indices have a welcome return of roughly 35%.
Global risks include a potential delay in the US-India trade agreement, the possibility of a sharp correction in US equity markets, and renewed geopolitical tensions.
Following a ban on real-money gaming, Dream Sports, the parent company of Dream11, is strategically expanding its portfolio across 11 companies, including a new venture into wealth management and stockbroking, with a focus on serving a mass user base through AI-first solutions, cofounder Harsh Jain confirmed.
Households should moderate large discretionary expenses for the time being.
'They should prioritise essential spending. They should maintain an emergency fund covering 6 to 12 months of expenses.'
Sunil Bharti Mittal, 68, will retire as chairman of Airtel Africa in July after the conclusion of this year's annual general meeting (AGM), the board of the African arm of India's second-largest telecom service provider Bharti Airtel said in a statement to the exchanges on Wednesday.
As the government moves to revamp India's securities legislation, unifying three different laws into the Securities Markets Code (SMC), regulatory experts and market insiders have raised concerns on potential funding challenges for the stock market regulator.
Sensex and Nifty post steepest weekly loss in over a year, falling nearly 3 per cent.
India continues to face LPG supply challenges for the third consecutive week due to disruptions caused by the West Asia conflict, though panic buying is showing signs of easing. The government is prioritising domestic household supplies and encouraging alternative fuel sources.
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 US Fed's interest rate decision will be the major factor dictating trends in the domestic equity market this week, with global movements and foreign investor activity also influencing sentiment, according to analysts. Stock markets ended the last week on a subdued note, with benchmark indices Sensex and Nifty closing flat.
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.
'Our diplomacy should have been focused on preventing war and avoiding the inevitable disruptions it would cause, posing a real risk to India's growth story,' asserts former foreign secretary Shyam Saran.
We cannot simply have a 60-65 per cent import dependency in LPG, the bulk of which comes from just one volatile region -- West Asia, points out R Jagannathan.
In total, the stock market wealth has come down by a whopping over Rs 11 lakh crore (Rs 11 trillion) since the beginning of 2011, as the benchmark Sensex plummeted by over 3,000 points.
'Oil is still well below its all-time highs, and the world is gradually running out of known reserves.'
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.
The Indian stock market in the October-November period sees high trading activity due to increased consumer spending, festive demand, upbeat sentiment, renewed investor confidence, and the auspicious Muhurat trading session. This impacts many stocks and sectors in the festive season.
'For the initial decade, I consistently advise young professionals to prioritise career development and income growth rather than market analysis.'
Every investor loves a bull market - that feeling of watching portfolios rise and headlines being filled with record highs is gratifying. Yet, wealth creation in the stock market is not just a matter of market rallies. Some of the most successful investors make their fortunes in periods of slow or even negative market momentum. The secret is mindset, strategy, and disciplined investing, not chasing short-term rallies.
500,000 tonnes of sugar exports allowed on top of an existing 1.5 mt window
Foreign portfolio investors (FPIs) infused Rs 22,615 crore into Indian equities in February, marking the highest monthly inflow in 17 months, driven by factors such as the interim India-US trade deal, correction in domestic market valuations, and strong corporate earnings.
'The first time India has seen two consecutive blockbuster IPO years.'
ICICI Bank, Eternal, Titan, Adani Ports, Tata Consultancy Services and UltraTech Cement were also among the laggards. However, InterGlobe Aviation, Tech Mahindra, Hindustan Unilever and Bajaj Finance were among the gainers.
Analysts predict India will face oil price volatility and macroeconomic effects due to the escalating Iran crisis, though the country's oil supply chain is not yet structurally insecure.
India has managed high government debt-to-GDP, a slowing domestic revenue engine, lower household savings and a more hostile geopolitical environment separately in the past. But together, they threaten to undo the growth narrative on which today's optimism rests, warns Debashis Basu.
India is among the three least-favoured Asian stock markets, according to BofA Securities whose survey found that 10 per cent of fund managers are underweight on Indian equities from a 12-month perspective.
Despite international crude oil rates crossing USD 100 per barrel due to Middle East tensions, the Indian government plans to maintain current petrol and diesel prices, ensuring uninterrupted fuel supply across the country.
Indian eateries are adapting to the LPG crisis by cutting menus, increasing prices, and switching to alternative fuels like coal, as LPG supplies are disrupted due to global events. State authorities are cracking down on hoarding and black marketing of LPG cylinders.
From the 30-Sensex firms, Maruti, Power Grid, Tata Motors Passenger Vehicles, HDFC Bank, Asian Paints and Tata Steel were among the biggest laggards. However, Titan, HCL Tech, Tech Mahindra, Infosys and Tata Consultancy Services were among the gainers.
'Nobody explained why. After that there was panic buying, there was hoarding -- and then nothing reached us.'
Shares of tyre manufacturers have outperformed broader equity benchmarks, buoyed by multiple tailwinds. Softer raw material prices, an uptick in demand from automakers following the reduction of the goods and services tax (GST) rates, and steady replacement demand have lifted sentiment toward the sector.
Indian restaurants are grappling with a severe LPG shortage due to the West Asia conflict, forcing them to innovate with menus and cooking methods or face potential closures, impacting the food industry and consumers across the country.
When everyone has footage and no one can verify it, the loudest voice wins, notes Prem Panicker who begins a daily blog on the War in the Middle East.
Domestic mutual funds have infused the highest ever -- Rs 4.84 trillion -- this year amid strong inflows via SIPs.
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