Markets face risk of a prolonged bear phase as oil shocks and geopolitical tensions test inflation, growth and investor confidence globally, points out Debashis Basu.
The Congress has strongly criticised the US government's temporary waiver allowing India to purchase Russian oil, raising concerns about continued 'American blackmail' and its impact on India's energy policy.
Indian benchmark equity indices, Sensex and Nifty, closed lower due to investor caution over rising bond yields, a weaker rupee, and fresh fuel price hikes, which have revived inflation concerns.
Mother Dairy has launched a naturally degradable milk pouch, a first in India, designed to break down in soil and reduce plastic waste. The new packaging will be used for cow milk across Delhi-NCR starting June 5th.
The Congress on Sunday lashed out at Prime Minister Narendra Modi over the US' statements after three Indian sailors were killed in American attacks on ships, with party leader Rahul Gandhi saying the "compromised PM" listens "like an obedient servant" and "complies with the orders".
'The situation globally is quite challenging, but we have the confidence and courage of conviction that we will come out winners even in this challenging time.'
"There is a sharp jump that we have seen in bookings of EVs... The jump, at least in our case, in just two months, it is about 2 to 2.5 times of what it used to be"
India on Wednesday asserted that its energy purchases from Russia remain 'minuscule' in comparison to its total consumption and that legitimate energy transactions cannot be politicised as energy export from Russia are yet to be sanctioned. The world's third-biggest oil-consuming and importing nation has in recent weeks snapped few cargoes available from Russia at deep discounts as part of its plans to diversify its import basket. These purchases have been commented upon.
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.
Which are the world's most vital straits, important to shipping?
Tensions escalate between Iran and the US over control of the Strait of Hormuz, a crucial shipping lane for global oil supplies, as both sides discuss extending a fragile ceasefire.
'What exactly is on the prime minister's mind, we do not know. But it feels like the government wants the country to be prepared for unseen challenges ahead.'
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
Foreign secretary Vikram Misri on Friday shared key details on agreements between India and the UAE, stating that the UAE will store up to 30 million barrels of crude oil in India's strategic petroleum reserve following Prime Minister Narendra Modi's visit.
Maruti Suzuki Chairman R C Bhargava is pushing for increased government incentives for biogas-powered vehicles over hybrids, emphasising their net-zero carbon emissions and the valuable organic manure they produce, while also advocating for continued GST benefits for electric vehicles.
Dr Amreen Sheikh, chief dietician at KIMS Hospital, recommends a list of healthy fat alternatives that you can have instead of cheese without compromising on nutrition.
Iranian Foreign Ministry spokesperson Esmail Baghaei stated that Iran is instead working with Oman to establish a mechanism for the safe passage of ships through the Strait.
The Indian rupee depreciated 20 paise to close at a fresh all-time low of 94.88 against the US dollar, driven by surging Brent crude oil prices, hovering around USD 115 per barrel, and persistent foreign capital outflows.
Despite a sharp increase in import duties on gold and silver to 15 per cent, the precious metals are trading at significant discounts in the domestic market, with gold seeing discounts of up to $200 an ounce and silver up to $6 an ounce.
The government is identifying households with both liquefied petroleum gas (LPG) and piped natural gas (PNG) connections to enforce a ban on dual ownership, aiming to curb misuse and better target subsidies amid global energy supply disruptions.
The closure of the Strait of Hormuz has disrupted some 20 per cent of the global flows but even if it opens, damages to production facilities in the region will take time to repair, points out Sunita Narain.
India is set to reduce its direct imports of Russian crude from late November, following new US sanctions on Rosneft and Lukoil, effective November 21.
S&P Global Ratings warns that a sustained rise in crude oil prices to $130 per barrel could significantly slow India's economic growth, weaken fiscal metrics, and strain corporate and banking sector performance, potentially reducing growth by up to 80 basis points.
Reserve Bank of India (RBI) Governor Sanjay Malhotra stated that preventing second-round effects of supply shocks, where inflation expectations rise due to prolonged disruptions, is the primary role of monetary policy. He also defended the RBI's foreign exchange market interventions, asserting it did not commit to an 'indefensible peg'.
Indian equities on Dalal Street saw volatility as global market trends and weak rupee impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for May 5, 2026.
There are enough people at the top decision-making level in Tehran who are still willing to negotiate, provided Trump can create the right setting for the negotiation to acquire a dynamic of its own, points out Ambassador M K Bhadrakumar.
'When we start describing somebody as an enemy that is the start of politics and emotion after which no business can take place.' 'We need to get out of this, allow Indian businessmen to do business with China.'
In a first, Indian oil public sector undertakings (PSUs) finalised a one-year contract to import around 2.2 million tonnes (mt) of liquefied petroleum gas (LPG) from the US. The LPG import deal comes at a time when negotiations for an India-US bilateral trade agreement (BTA) are gathering steam. Earlier in the month, US President Donald Trump had said Washington and New Delhi were "pretty close" to reaching a fair trade deal.
Indian benchmark stock indices, Sensex and Nifty, closed nearly 1 per cent lower due to surging crude oil prices, weak global market trends, and significant foreign fund outflows, with geopolitical tensions and inflation concerns further dampening investor sentiment.
Indian stock market benchmark indices Sensex and Nifty experienced a significant drop in early trade due to rising crude oil prices, bearish global market trends, and continuous foreign fund outflows.
Reliance Industries Ltd on Thursday said it has halted the use of Russian crude at its export-only refinery in Jamnagar, Gujarat, as the company moves to comply with European Union sanctions. Reliance is India's largest buyer of Russian oil, which it processes and turns into fuel, such as petrol and diesel, at its giant oil refining complex at Jamnagar.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
The people of Bihar, usually cook food in mustard oil that adds pungency. They enjoy cooking and eating, tasty and healthy food using seasonal ingredients with aromatic local spices. Garlic, ginger and green chillies play a special role.
US President Donald Trump concluded his Beijing summit with Chinese President Xi Jinping, describing it as 'incredible' and highlighting 'fantastic trade deals' and a 'very strong' relationship between the two leaders.
Chinese President Xi Jinping warned US President Donald Trump that mishandling the Taiwan issue could trigger conflicts between the two countries during wide-ranging talks on trade, Iran, and energy security.
Prime Minister Narendra Modi has strongly condemned the attacks on the United Arab Emirates' port city of Fujairah, which resulted in injuries to three Indian nationals, and reiterated India's support for peaceful resolution through dialogue.
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.
United States President Donald Trump on Wednesday claimed that India will significantly reduce Russian oil imports by year-end, citing Prime Minister Narendra Modi's assurance.
The Quad grouping has expanded cooperation in critical minerals and energy, while unveiling new measures to boost maritime surveillance and port infrastructure across the Indo-Pacific. This move comes against the backdrop of China's growing military posturing in the region, with ministers reiterating strong opposition to destabilising actions and expressing serious concerns over militarisation of disputed features.
MEA spokesperson Randhir Jaiswal said India's energy decisions are guided by national interest.
