Even as the benchmark and broader indices were down sharply on Monday due to escalating tensions in West Asia, the Nifty Defence index ended the session in the green.
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.
The LPG squeeze on India's restaurant sector is the quotidian face of a deeper crisis.
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 Indian government has convened an all-party meeting to discuss the ongoing crisis in West Asia, following Prime Minister Modi's address to Parliament on the situation and its potential impact on India.
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
The Indian government has implemented several measures to mitigate external risks, support the balance of payments, and maintain macroeconomic stability amidst the ongoing West Asia crisis, according to Minister of State for Finance Pankaj Chaudhary.
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.
'Refiners may soon be forced to adjust operations, curtailing runs as product exports stall and directing output solely to domestic markets.'
Hours after United States President Donald Trump's claims of an Iran-Israel ceasefire, India on Tuesday said it stands ready to play its part to resolve the situation and insisted on 'dialogue and diplomacy' as the way forward.
Israel and the United States had a plan. Iran punched back. And now the Gulf is reeling, the world is beginning to feel the pain and, as on date, no one in Washington or Tel Aviv appears willing to admit that the punch has landed, notes Prem Panicker, continuing his must-read blog on the war in the Middle East.
'Existing investors who have not acted so far may consider holding on to these funds with the understanding that the higher returns they expected from them may now take longer to materialise.'
Despite initial pressure from the West Asia conflict, analysts are optimistic about the Indian hospital sector's outlook, citing strong demand drivers and ongoing expansion plans that are expected to fuel significant revenue growth over the next few years.
Prime Minister Narendra Modi will hold a video conference with chief ministers of most states to assess their preparedness and strategies in response to the ongoing conflict in West Asia.
Reserve Bank of India (RBI) Governor Sanjay Malhotra stated that recent regulatory measures to address foreign exchange market volatility, such as capping banks' net open positions, are temporary and aligned with current market conditions, not signalling any structural shift in policy.
'If movement remains stalled for three to four months, more than 300,000 recruitments from India could be affected.'
Prime Minister Narendra Modi will visit Israel to enhance defence and trade cooperation amid Middle East tensions. Discussions will include defence, security, and the situation in Gaza.
The Ministry of External Affairs (MEA) has confirmed the deaths of eight Indian nationals and one missing person in West Asia due to the ongoing conflict. The Indian government is providing support to affected families and facilitating the return of citizens from the region.
India restricts subsidised LPG connections for households with piped natural gas (PNG) to ensure equitable distribution and address global energy supply concerns, pushing for faster PNG adoption.
Iranian embassy officials in Delhi said the Iranian foreign ministry was in close touch with the Indian mission in Tehran after some students were injured.
IndiGo airline will face near-term pressure on profitability from rising fuel prices following the escalation of conflict in West Asia, though it is likely to pass on higher costs to passengers over time because its ticket booking cycle is relatively short, according to a report by Moody's Ratings.
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.'
Congress leader Rahul Gandhi has criticised Prime Minister Narendra Modi's foreign policy and his remarks referencing the COVID-19 pandemic in relation to the West Asia situation.
Foreign investors pulled out Rs 21,000 crore (around $2.3 billion) from Indian equities over the last four trading sessions amid deteriorating global risk sentiment triggered by the West Asia crisis.
The West Indies and Zimbabwe cricket teams have delayed their return from India after being eliminated from the Twenty20 World Cup due to international airspace closures amid the ongoing conflict in the Middle East.
The West Indies and Zimbabwe cricket teams have delayed their return from India after being eliminated from the Twenty20 World Cup due to international airspace closures amid the ongoing conflict in the Middle East.
Union Minister Pralhad Joshi assures that the Indian government is prepared to bring back Indians stranded in the Gulf region due to the Iran-Israel conflict and disruptions in Dubai, emphasizing citizen safety as the top priority.
'The people who are outraging, they don't have any substantial argument. They are enraging over manufactured memes and manufactured figures.'
'In my entire career, whenever friends, relatives, or associates have sought my counsel, I have told them consistently: Stay away from equities. Buy gold. Place funds in fixed deposits. Acquire some raw land.' 'That is all one genuinely needs to build meaningful, enduring wealth, without the attendant anxiety of equity market participation.'
The International Energy Agency (IEA) has proposed immediate demand-side measures, including remote work, lower speed limits, and reduced air travel, to mitigate the impact of a global oil supply shock caused by Middle East disruptions.
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.
In the present hyper-connected world, there are many domestic and global factors that affect financial markets. Of them, the most powerful and often least predictable are geopolitical events, which often boil down to one diplomatic headline.
A disruption in the supply of LPG cylinders caused by tensions in the Strait of Hormuz is impacting Indian kitchens, leading to restaurant closures, price hikes and a surge in demand for electric cooktops.
FIDE, the world chess governing body, has rejected calls to move the Candidates Tournament from Cyprus despite security concerns arising from regional conflicts. The tournament is scheduled to begin on March 28.
The Indian government is unlikely to allow a parliamentary debate on the West Asia crisis, citing prior briefings by the External Affairs Minister. This decision comes amid opposition protests and a pending no-confidence motion against the Speaker.
Sri Lanka is deliberating appropriate action after a second Iranian ship sought entry to its territorial waters, following an attack on an Iranian frigate near the island nation. The government is focused on safeguarding lives and regional peace.
Sri Lanka has allowed a second Iranian ship, IRINS Bushehr, to dock at Trincomalee port after it reported engine failure, following the sinking of an Iranian frigate. The move comes amidst heightened regional tensions and a joint US-Israeli attack on Iran.
Cuban Ambassador to India Juan Carlos Marsan Aguilera strongly condemned the US military operation in Venezuela, calling it a 'criminal act' and a 'terrorist act'. He emphasized the need for global unity to counter US unilateral actions and highlighted India's pivotal role in the evolving geopolitical landscape.
Two-time Olympic medallist PV Sindhu is set to miss the All England Championships after being stranded in Dubai due to travel disruptions. Other Indian shuttlers face challenges reaching the tournament.
The United States has imposed sanctions on at least half a dozen Indian companies accused of trading in Iranian petroleum and petrochemicals as part of broader action targeting 20 entities worldwide.
