Shares of IT companies were in focus with the Nifty IT and S&P BSE IT index gaining more than 2% in an otherwise lower market
Relations between India and China have been in an 'abnormal state' since the 2020 Galwan clash and it is a 'possibly longer than medium-term issue', External Affairs Minister S Jaishankar said in New York.
Emphasising on building a "peaceful neighbourhood", Pakistan Prime Minister Nawaz Sharif on Tuesday said his country is committed to engaging India for peaceful resolution of all outstanding issues, including Kashmir, through sustained dialogue.
He will also order the state department to start the process of planning and building a new US embassy in Jerusalem, but White House officials said that process would take at least three years.
In the last nine sessions, the Sensex had lost 1,940.73 points and the Nifty has given away nearly 600 points.
President Xi Jinping on Monday vowed to build China's military into a "Great Wall of steel" to protect its sovereignty and developmental interests as he sought a bigger role for Beijing in global affairs, days after brokering a Saudi Arabia-Iran detente, regarded as a diplomatic coup.
International oil prices jumped to the highest level since 2014, topping $87 a barrel but domestic petrol and diesel prices remained unchanged for the 74th day in a row - a freeze that may be linked to ensuing assembly elections in states like Uttar Pradesh and Punjab. Brent - the key global oil benchmark - soared to $87.7 per barrel mostly due to rising geopolitical tensions and supply-side disturbances due to Yemen's Houthi group's attack on oil facilities in the United Arab Emirates. Also, global inventories are waning. The attack, some analysts believe, may lead to more hostile behaviour between the two power centres in the Middle East - Iran and Saudi Arabia.
Overseas shipments at auto firms expanded at a brisk pace year-on-year (YoY) in March, bumping up the overall annual exports for FY22 and taking it to a record level for some like Maruti Suzuki India and Bajaj Auto. Amid a semiconductor shortage, a depreciating rupee and a strong demand in various export destinations, passenger vehicle makers diverted capacity meant for the local market in favour of the more-lucrative export market. Among the passenger vehicle makers, market leader Maruti Suzuki led the rally with its overseas shipments touching a record level of 238,376 units in FY22 - the highest for the company in any financial year.
India and the US had on July 17 signed a preliminary agreement for cooperating on emergency crude oil reserves, including the possibility of India storing oil in the US emergency stockpile.
EAM Jaishankar's mission is aimed at strengthening India's strategic autonomy in a complex international environment, observes Ambassador M K Bhadrakumar.
The first World Cup in the Middle East has been anything but insulated from the troubles of the volatile region, set against a backdrop of anti-government protests in Iran and an upsurge in Israeli-Palestinian violence.
Protesters attacked what they deemed to be US' disproportionate response -- the killing of 24 militiamen on Sunday in retaliation for the death of an American contractor on Friday.
On the Sensex chart, losses were mainly driven by Hero MotoCorp, Tata Motors, Axis Bank, Tata Steel, Maruti and SBI -- falling as much as 6.19 per cent.
The Middle East's power house is about to get a new ruler who is only 31 and he may lead Saudi Arabia for decades, says Ambassador M K Bhadrakumar.
Gold prices may trade higher in the coming days because of weaker dollar and speculations of US Fed rate cut.
Yes Bank was the biggest gainer in the Sensex pack, rallying 10.94 per cent. Other gainers included Sun Pharma, IndusInd Bank, L&T, ICICI Bank, Maruti, Bajaj Auto, Tata Motors and ONGC, rallying up to 4.01 per cent.
In the Middle East, which is already coping with the Qatar-Saudi Arabia tensions, comes another pressure point.
In the 15-year dataset, the researchers noted an average of 7.8 incursions per year even though the Indian government's estimates are much higher.
The United States on Thursday put Iran "on notice" for test-firing a ballistic missile and warned of consequences for its "malign actions", signalling a more hardline stance against Tehran that could set the stage for renewed confrontation between the two nations.
'Clearly, from the Indian viewpoint, the US retrenchment from Asia cannot be happening as good news.' 'The abandonment of the US' pivot to Asia exposes the US-Indian partnership to be a mere transactional relationship,' says Ambassador M K Bhadrakumar
The US president said new sanctions would be imposed, adding 'America will not be held hostage to nuclear blackmail'.
On food inflation, RBI said it is likely to soften from the high levels registered in December and the decline is expected to become more pronounced during the fourth quarter of this fiscal as onion prices ease following arrivals of late kharif and rabi harvests.
Gold prices rose further by Rs 210 to Rs 27,210 per ten gram in New Delhi on Wednesday on increased buying by jewellers and retailers to meet upcoming festive and wedding season demand amid a firming global trend.
He said India can have a possible role in creating a multilateral forum of negotiations between the Palestinians and Israelis.
The S&P BSE Midcap and S&P BSE Smallcap indices gained 0.4% and 1%, respectively
'By annoying the Arabs and cozying up to Iran, Pakistan may end up losing Arab economic support, annoying the Americans and increase Shia-Sunni tensions domestically,' Colonel Anil A Athale (retd) points out.
Meanwhile, retail jewellery sales in India have declined by 50 per cent since gold price started its uptrend nearly two weeks. Buyers deferred their fresh purchase amid expectations of a correction in gold prices from the current high level.
Iranian Ambassador to India Ali Chegeni said his country is 'not for war'. "We are looking for peace and prosperity for everybody in this region," he said.
The white metal had gained Rs 200 in the previous session.
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United States Secretary of State John Kerry's much-awaited visit to Pakistan has been postponed once again after his original travel plan was leaked to the media, official sources said on Monday.
BSE listed firms' value slips below Rs 100 trillion mark.
Taking advantage of the Russia-Ukraine war, China has been conducting military drills on its far north-eastern border, raising expert concerns that Beijing could be considering a push into Russian territory.
Forex dealers said besides the dollar's gains against the euro overseas, increased demand from importers for the US currency and a lower opening in the domestic equity market also put pressure on the rupee.
In a historic moment, Pope Francis met the grand imam of Cairo's Al-Azhar Mosque at the Vatican.
US President Donald Trump spoke with Saudi Arabia's King Salman amid the Arab world's biggest diplomatic crisis in years over Qatar's alleged support to extremists, reports Lalit K Jha.
Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent. The broader NSE Nifty settled 79.80 points, or 0.72 per cent, down at 10,996.10.
BSE Bankex and Telecom indices led the fall.
India has the ability in all respects to be a great power and address our security challenges in the best national interests, says Commodore Venugopal Menon (retd).
Key to China's decision regarding Taiwan will be its leadership's assessment whether the US will come to Taiwan's defence, explains Jayadeva Ranade, the former senior RA&W officer and China expert.
'Traditionally, the US tried to tamp down tensions whenever a crisis situation arose and deputed officials from Washington to travel to Delhi to counsel restraint.' 'This time around, no US envoy flew down to Delhi -- not even when tensions spiked and a flashpoint was reached last week,' points out Ambassador M K Bhadrakumar.
