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.
Indian equity markets experienced a volatile session, with the Sensex and Nifty recovering some ground after a significant plunge the previous day. Gains were driven by PSU bank, IT, and metal stocks, but concerns over rising fuel prices and geopolitical tensions limited the recovery.
Sensex and Nifty post steepest weekly loss in over a year, falling nearly 3 per cent.
In a post on Truth Social, Trump outlined key goals of the campaign, including degrading Iran's missile capabilities, dismantling its defence industrial base, eliminating naval and air power, preventing Tehran from acquiring nuclear capability, and protecting United States allies such as Israel, Saudi Arabia and the United Arab Emirates.
A senior government official asserts India's independence in purchasing Russian oil, stating that US sanctions waivers merely remove friction but do not dictate India's energy policy. The official highlights India's commitment to energy security and affordability for its citizens.
The United States has encouraged India to purchase Russian oil already at sea to mitigate supply shortages and price increases amid the West Asia conflict, according to Energy Secretary Chris Wright. This move is described as a short-term effort to stabilise the market without altering Washington's policy towards Russia.
Israel wishes to continue its bombing campaign until Iran's military and industrial infrastructure are degraded to a point where it ceases to pose a threat to Israel. Iran, for its part, has learnt from its experience in the 12-day war of last June. Any ceasefire, it believes, will only be a prelude to another attack on itself. It is determined to convey that any attack on Iran will impose heavy costs on Israel, the US, America's allies in the Gulf -- and on the world at large, points out T T Ram Mohan.
The Indian rupee weakened against the US dollar due to sustained foreign fund outflows and uncertainties in West Asia, although lower crude oil prices and a positive opening in domestic equity markets limited the losses.
Donald Trump has warned Iran to open the Strait of Hormuz within 48 hours or face military action, escalating tensions amid regional conflict and impacting global oil supplies.
The ongoing conflict in West Asia is severely disrupting Bikaner's food exports, causing delays, rising costs, and impacting the supply of popular snacks like bhujia and papad to Gulf and European markets.
The US has temporarily permitted India to accept Russian oil already on ships to ensure energy supplies amid the conflict with Iran. This short-term measure is not expected to significantly benefit Russia financially.
Analysts predict a surge in gold and silver prices as investors seek safe-haven assets due to escalating tensions in the Middle East. The impact on domestic prices will depend on the conflict's duration, with geopolitical factors and macroeconomic data also playing a role.
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.
A NielsenIQ report indicates that the FMCG industry's sales growth moderated to 7.8% in the December quarter of 2025, with volume growth also dipping due to GST rationalisation and a high base from the previous year's festival season.
India's aviation sector is facing fresh turbulence, with rising fuel costs, the Ministry of Civil Aviation's free-seat directive, and geopolitical disruptions in West Asia clouding near-term earnings visibility.
Amid escalating tensions with Iran, President Trump is urging nations dependent on Middle Eastern oil to deploy warships to the Strait of Hormuz to safeguard critical global energy supplies.
Gold and silver prices saw a significant decline in the national capital, with silver falling by Rs 7,800 to Rs 2.43 lakh per kilogram and gold by Rs 1,500 to Rs 1.54 lakh per 10 grams, as investors booked profits amid persistent doubts over the durability of the West Asia ceasefire.
Srivastava warned that continued bombing of Iran by the US and Israel could severely undermine any prospects of reopening critical maritime routes through negotiation with Tehran.
Rupee slumped 69 paise to an all-time low of 92.18 against the US dollar in early trade on Wednesday, as a sharp spike in crude oil prices amid geopolitical tensions following the escalation of the US-Iran conflict weighed on investor sentiment.
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.
A fall in the Nifty 50 to around 19,000 is not impossible, but that would likely require nuclear options to be exercised.
India's new manufacturing project announcements more than halved in the fourth quarter of FY26, falling 60 per cent sequentially and 78 per cent year-on-year to approximately 1.7 trillion, driven by global uncertainties, geopolitical conflicts in West Asia, and existing unutilised manufacturing capacity.
The Americans can occupy Bab el Mandeb, claim to have 'solved' the Strait of Hormuz crisis, declare victory that President Trump so desperately needs, points out Colonel Anil A Athale, former head of the history division, ministry of defence.
Saudi Arabia's steep cut in LPG benchmark prices has pushed India's household LPG underrecoveries to their lowest level in over two years, slashing oil companies' losses from Rs 200-250 per cylinder last year to about Rs 20-40 now.
'So far our production is not affected. But every day the situation prolongs, it does bring risks in terms of shipments getting delayed.'
The big question is whether Trump is any longer in command of the situation. For all practical purposes, the war seems set to cascade as the US is preparing for a potential ground operation in Iran and threatens to destroy 'bridges next, then electric power plants', points out Ambassador M K Bhadrakumar.
Uncertainty stemming from the US-Iran conflict has significantly impacted India's mutual fund industry, leading to a sharp decline in new fund offers (NFOs) in March, despite numerous regulatory approvals. This geopolitical tension, coupled with existing market strain and distributor hesitation, has dampened investor sentiment and affected overall inflows.
'Oil is still well below its all-time highs, and the world is gradually running out of known reserves.'
Police in Odisha's Koraput district seized hashish oil worth approximately 225 crore from a forest manufacturing unit. Over 1,800 litres of hashish oil were recovered, and equipment was confiscated. In a separate operation, 1,143 kg of ganja worth 5 crore was seized, leading to four arrests.
The purge in Washington does not pause the war. Strikes continue, Hormuz remains closed, and Brent crude is still dancing around $109 a barrel. For India, the command chaos in the Pentagon is another layer of uncertainty piled on five weeks of conflict that was already straining every buffer Delhi has.
Revenue collection next financial year may be affected, and, along with this, subsidies on food and fertilisers can go up if the war in West Asia drags for long, according to experts.
Gold and silver prices experienced a significant drop in the national capital due to a global selloff driven by inflation concerns, central bank policies, and geopolitical tensions.
Despite a ceasefire agreement between Iran and the United States, the Strait of Hormuz remains blocked due to Iran's inability to locate and remove all the mines it laid during the conflict, hindering global oil and gas supplies.
Domestic LPG and commercial cylinder prices in India have seen a significant increase, driven by rising global energy costs linked to the conflict in West Asia. This marks the second price hike in less than a year, impacting households and businesses.
'The West Asia or the Gulf crisis has shown that what we develop as national infrastructure when things are not as bad as they could be, we forget to plan for adversities.'
The recent surge in crude oil prices could shave off the gains made by India Inc in profit margins in the past few quarters. Worse, it comes at a time when consumer demand in the country is slipping and major global economies are witnessing a slowdown. A back-of-the-envelope calculation suggests that the margin expansion accounted for three-fourths of the rise in the listed firms' operating profit between the April-June quarter (Q1) of FY23 and Q1FY24, and only a quarter of profits gains came from revenue growth.
India's sugar consumption is projected to fall by nearly 400,000 tonnes in the 2025-26 season, primarily due to the ongoing liquefied petroleum gas (LPG) shortage exacerbated by the West Asia conflict and unseasonably cool weather.
Indian carriers have cancelled over 10,000 flights since the onset of the West Asia conflict, as escalating tensions and airspace restrictions disrupted international operations, a senior government official said.
Precious metal prices surged in futures trading, with silver hitting Rs 2.93 lakh per kg and gold nearing Rs 1.68 lakh per 10 grams, driven by safe-haven demand following US-Israel strikes in Iran and retaliatory attacks.
New demat account additions in India reached an 11-month low in March, with only 2.15 million new accounts opened, significantly below the 12-month average. This slowdown is attributed to a sharp decline in equity markets, escalating West Asia tensions, and increased crude oil prices impacting India's economic outlook.
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