Indian equity benchmark indices, Sensex and Nifty, tumbled nearly 2 per cent for the fourth consecutive session, driven by elevated crude oil prices, escalating US-Iran tensions, unabated foreign fund outflows, and a depreciating rupee.
Indian equity benchmark indices, Sensex and Nifty, tumbled nearly 2 per cent for the fourth consecutive session, driven by elevated crude oil prices, escalating US-Iran tensions, unabated foreign fund outflows, and a depreciating rupee.
The demerger of Vedanta's four new entities - Vedanta Aluminium Metal, Vedanta Oil & Gas, Vedanta Power, and Vedanta Iron & Steel - has led to a 16% appreciation in aggregated market capitalisation, with Vedanta Aluminium Metal identified as a likely near-term top performer due to its scale, low production costs, and favourable commodities cycle.
India's trade with West Asia saw a significant decline of over 28% in April, marking the second consecutive month of contraction. This downturn is attributed to severe shipping disruptions stemming from the ongoing conflict involving the US, Israel, and Iran, particularly impacting the crucial Strait of Hormuz waterway.
In April alone, they snapped up shares worth Rs 19,664 crore, recording their biggest buy since October 2024.
Two more Indian-flagged LPG tankers have begun their journey from the Persian Gulf, navigating the Strait of Hormuz amidst regional conflict, following disruptions caused by recent tensions in the Middle East.
Indian benchmark indices Sensex and Nifty experienced a significant slump, with the Sensex tumbling 719.08 points, driven by escalating West Asian tensions, a sharp rise in crude oil prices, and a global sell-off in technology stocks.
Adani Group has agreed to pay USD 275 million to settle allegations of violating US sanctions on Iran. The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) acknowledged the Indian conglomerate's extensive cooperation and proactive disclosures during the investigation.
An Indian and a Pakistani national were killed in Abu Dhabi after debris from intercepted missiles fell on a street. The incident has raised concerns about regional security.
Indian benchmark indices Sensex and Nifty experienced a decline in early trade, mirroring weak global market trends and persistent outflows from foreign institutional investors (FIIs), exacerbated by ongoing geopolitical uncertainties in West Asia.
Amidst the escalating conflict in West Asia, India is actively engaged in diplomatic efforts to protect its energy security interests and ensure the safety of its diaspora in the region.
Amid escalating tensions in West Asia, the Indian government has established a control room to provide crucial support and assistance to the nearly one crore Indian citizens residing in the region.
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.
Two drones struck areas surrounding Dubai International Airport on Wednesday amid the ongoing West Asia conflict, injuring four people including an Indian national, though authorities said there were no fatalities and flight operations continued normally.
The Indian Under-20 men's team has been drawn into Group B alongside Uzbekistan, Syria, and Bangladesh for the AFC U-20 Asian Cup China 2027 Qualifiers, scheduled to take place in Tashkent from August 25 to September 6.
Qatar Airways operated a Doha-New Delhi flight on Monday on which more than 300 Indian passengers stranded in Doha travelled to India, the Embassy of India in Doha, Qatar, said on its X handle.
Two Indian nationals have been confirmed dead and one is missing following attacks on merchant vessels amidst the ongoing conflict in West Asia. The Indian government has reiterated its commitment to the welfare of its citizens in the Gulf region.
Indian Grandmaster Koneru Humpy has withdrawn from the FIDE Women's Candidates Tournament, citing concerns over her personal safety amidst the West Asia conflict.
An Indian national has been killed in Kuwait following Iranian strikes on a power and water desalination plant, bringing the total number of Indian fatalities in the West Asia conflict to eight.
Two Indian ships carrying liquified petroleum gas (LPG) from the Gulf countries crossed the Strait of Hormuz early on Saturday morning, raising the number of Indian vessels safely passing through the war-hit, narrow shipping lane to three.
Frankly, was it really necessary in the middle of a fratricidal war for External Affairs Minister S Jaishankar to travel to Abu Dhabi for a one-on-one with the sheikh on April 12?Or, for National Security Advisor Ajit Doval to follow up on April 26? Or, for PM Narendra Modi to follow through today? There are no easy answers, notes Ambassador M K Bhadrakumar.
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.
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.
Indian stock markets experienced a significant sell-off, with the Sensex tumbling over 1,300 points, driven by escalating crude oil prices due to US-Iran tensions and Prime Minister Narendra Modi's call for austerity measures, which amplified investor concerns about India's economic outlook.
Trump said that the decision would be "immediately" in effect and that the "order is final and conclusive."
Dozens of Indian-flagged ships and over a thousand seafarers are stranded in the Persian Gulf, Gulf of Oman, and surrounding areas due to the closure of the Strait of Hormuz amidst ongoing military actions involving the US, Israel, and Iran.
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.
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
Indian benchmark indices Sensex and Nifty closed lower for the second consecutive day, driven by investor caution over conflicting geopolitical signals from West Asia and fresh foreign institutional investor (FII) outflows.
The Indian embassy in Saudi Arabia has confirmed that one Indian national was injured in a projectile incident in Al Kharj, while clarifying that there were no Indian fatalities. The embassy is providing assistance and is in contact with Saudi authorities.
The Indian government has addressed Parliament regarding a case of an Indian national seeking repatriation from Russia due to the situation in West Asia and the Gulf region. The government also responded to queries about Indian nationals denied entry to South Korea and seafarers detained in foreign countries.
The Indian rupee is highly vulnerable among Asian currencies, with Barclays and MUFG warning of a potential depreciation towards 100/$ if the West Asia conflict persists, driven by widening current account deficits and elevated crude oil prices.
'The real money in India over the coming period is likely to be made in small-cap stocks rather than in the large-cap benchmark names.'
An Indian national sustained injuries from shrapnel after a drone was intercepted by the UAE's air defence system. This incident follows similar events involving injuries and fatalities to Indian nationals in the region due to intercepted missiles and drones.
The rupee recovered to 95.18 against the US dollar after hitting an all-time intra-day low of 95.44. The recovery was supported by possible RBI intervention amid renewed Gulf tensions and rising crude oil prices.
Two India-bound LPG tankers have crossed the Strait of Hormuz amid heightened tensions in the region, while an India-flagged vessel sank after being hit near the strategic shipping corridor.
A Palau-flagged oil tanker with 15 Indian crew members was attacked off the coast of Oman, resulting in injuries. The incident occurred amidst rising tensions in the Middle East following attacks between Iran, the US, and Israel.
Indian benchmark indices Sensex and Nifty closed marginally lower due to profit-taking, following the Reserve Bank of India's decision to keep the repo rate unchanged while lowering its growth expectations for the current fiscal year and forecasting higher inflation.
The Reserve Bank of India (RBI) has kept its key lending rate, the repo rate, unchanged at 5.25 per cent for the second consecutive time, citing concerns over rising energy prices, supply disruptions from the West Asia crisis, and potential inflationary pressures.
'We are profoundly energy-dependent on the Gulf. That dependency must now be redirected towards the United States, because we require American permission to procure oil.' 'We additionally require Iranian permission to acquire oil from that source. So India now has to seek two separate permissions merely to secure its energy supply.' 'Should we be compelled to source from America, or from Venezuela -- which is, in effect, American-controlled supply -- that will inevitably carry a price premium, an elevated shipping cost, and a considerably extended delivery timeline, given the distances involved.'
