Indian benchmark indices Sensex and Nifty recovered early losses to trade higher, supported by encouraging developments on the geopolitical front, specifically the US-Iran peace deal, and easing crude oil prices.
UN Secretary-General Antonio Guterres has expressed deep concern over US President Donald Trump's warning to Iran and appealed for the re-establishment of freedom of navigation in the Strait of Hormuz.
Trump said that Iran's leadership, along with its air defence, Air Force, and Navy are 'gone'.
The Indian government has refuted reports suggesting a deal with Iran involving the release of seized oil tankers in exchange for safe passage of Indian vessels through the Strait of Hormuz.
India has strongly protested a US military strike on the commercial vessel Settebello off the Oman coast, which left three of the 24 Indian crew members missing. The US Central Command stated it disabled the Palau-flagged vessel for violating a blockade of Iranian ports.
Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty 50 and BSE Sensex performance and key global triggers.
Israeli Prime Minister Benjamin Netanyahu has warned that recent missile attacks demonstrate Iran's capacity to strike globally, posing a threat to Europe and the rest of the world. He highlighted the need for international action to counter Iran's nuclear and missile programmes.
Following a joint attack by the US and Israel on Iran, India is calling for restraint and de-escalation to avoid further military confrontation in the Middle East.
'Much will depend on the position of the United States.' 'It will have to be seen to what extent the US will be more interested in achieving some form of a deal and to what extent Israel will be allowed to continue to carry out both airstrikes and the killing of Iranian officials.'
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
China has condemned the attack on an elementary school in Iran and pledged USD 200,000 in emergency humanitarian assistance.
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.
Satellite imagery and expert analysis suggest that a deadly explosion at a school in southern Iran last week was likely caused by a United States airstrike that also targeted a nearby compound linked to the Islamic Revolutionary Guard Corps (IRGC), according to media reports.
It is for the first time that a senior minister has said that Iran requested permission for docking three of its ships in Indian ports.
Sardar Azmoun, one of Iran's top football players, has been expelled from the national team for a perceived act of disloyalty to the government, Iranian media has reported.
India's foreign policy establishment is adjusting with alacrity in real time -- an extraordinary spectacle in itself, considering the manifest reluctance to indulge in public diplomacy critical of American moves, observes Ambassador M K Bhadrakumar.
Precious metal prices, particularly gold and silver, experienced a significant surge in the national capital as investors sought safe-haven assets amid escalating hostilities in the Middle East.
India's wholesale price inflation (WPI) increased to 9.87 per cent in June, up from 9.68 per cent in May, primarily due to significant price increases in non-food and food products, with food inflation alone rising to 5.49 per cent.
'DRDO has been directed to license missile technologies to the private sector.'
InterGlobe Aviation (IndiGo) is experiencing significant financial pressure, with its stock falling 18 per cent since the start of the Iran war, due to rising Brent crude prices, a weakening rupee, and disruptions to its West Asia and European flight networks caused by geopolitical tensions.
Amidst ongoing conflict, Iranian President Masoud Pezeshkian signals a potential de-escalation by apologising to neighbouring countries while firmly rejecting US President Donald Trump's demand for unconditional surrender.
The ministry of interior of Bahrain on Sunday claimed that Iran attacked civilian targets in a water desalination plant after a drone attack.
If the oil infrastructure is attacked by the United States, the whole area could be flooded with oil, spilling into the Persian Gulf.
US President Donald Trump has asserted that the destruction of an American military aircraft will have no bearing on diplomatic discussions with Iran, according to a report by NBC News.
India has issued an advisory for its citizens in Israel to exercise utmost caution and remain vigilant at all times, following a joint attack by Israel and the US against Iran.
The central headquarters of the Iranian armed forces has issued a stark warning to the United States and its regional partners following recent threats made by President Donald Trump, state broadcaster Press TV reported.
The Centre on Monday informed the Supreme Court that the Central Board of Secondary Examination has come up with a new policy for the evaluation of private students, who were affected by the cancellation of Class XII board examination in Gulf countries due to the recent Iran-US war.
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.
FIFA President Gianni Infantino addressed various issues ahead of the World Cup, defending the body's handling of visa challenges, stressing its inability to override government decisions, and highlighting efforts to ensure participation from all nations, including Iran. He also defended ticket pricing and expressed optimism for a competitive tournament focused on unity.
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.
Russian President Vladimir Putin is set to visit China for talks with Chinese leader Xi Jinping, shortly after US President Donald Trump's visit to Beijing. The visit underscores the close strategic ties between China and Russia amid global tensions.
Tensions escalate at the UN Security Council as the US and Israel defend their military actions against Iran, while Iran condemns the strikes as war crimes, raising fears of a wider Middle East conflict.
Citizens and residents across the Gulf region are preparing for Eid amidst regional conflict, impacting festivities and daily life.
Crude oil prices are projected to fall significantly this year, driven by hopes of a peace deal between the US and Iran, which could lead to the reopening of the Strait of Hormuz, and a notable drop in Chinese demand for seaborne crude imports.
US President Donald Trump stated that Iran is eager to make a deal and predicted a sharp decline in oil prices due to abundant supply, amidst a Senate resolution to limit his war powers in Iran.
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.
A senior Iranian legislator has suggested that Tehran could further escalate pressure on its adversaries by targeting the Bab el-Mandeb Strait, raising concerns about global supply chain vulnerabilities.
The opposition party reiterated the absolute essentiality of immediate diplomacy and dialogue with Iran.
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.
US President Donald Trump's threats against Iran have drawn strong condemnation from Democrat leaders, who are calling for his removal from office, while some Republicans express concern.
