'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
Addressing the 36th extraordinary session of the Council of the International Maritime Organisation (IMO) held on Thursday in London, the Indian envoy said, "India remains deeply concerned about the evolving situation and continues to call for de-escalation through dialogue and diplomacy, with utmost restraint and priority being given to the safety of civilians."
Analysts predict that developments in West Asia and their impact on crude oil prices will heavily influence investor sentiment in the upcoming week. Global market trends, foreign investor activity, and rupee-dollar movement will also play a role.
Moody's Ratings has reduced India's GDP growth forecast for 2026 to 6 per cent, citing subdued private consumption, capital formation, and industrial activity due to higher energy costs and global uncertainties.
Amidst the ongoing conflict in West Asia, the Oil Ministry assures citizens that India's LPG supply remains secure, with no need for panic booking of cylinders. The normal delivery cycle of two-and-a-half days is being maintained, and crude oil is being sourced from diverse routes.
Analysts predict that the ongoing conflict in West Asia, crude oil price fluctuations, and the US Federal Reserve's interest rate decision will significantly influence the Indian equity market this week.
Pakistan Prime Minister Shehbaz Sharif announced that a US-Iran peace deal is on the verge of finalisation, potentially within the next 24 hours, marking a significant diplomatic breakthrough after months of intense negotiations.
Facing escalating threats from the US, Iran is mobilizing its citizens to form 'human chains' around power plants as a defensive measure against potential airstrikes, raising concerns about international law and civilian safety.
Crude oil prices experienced a sharp decline after US President Donald Trump announced a temporary halt to military strikes on Iran's energy infrastructure, easing geopolitical tensions and supply disruption fears.
Indian benchmark equity indices, Sensex and Nifty, experienced a decline in early trade, ending a three-day rally, primarily due to heavy selling in IT stocks and concerns over prolonged instability in West Asia.
Trump has said he would be present at the signing ceremony in Islamabad. Don't be surprised if the Pakistani hosts make it a grand event in the geopolitics of the region. Trump would love that, notes Ambassador M K Bhadrakumar.
The United States military and Kuwaiti air defence forces successfully intercepted multiple Iranian ballistic missile and drone attacks targeting Kuwait and Bahrain, with Iran's state broadcaster claiming American military installations in Kuwait were deliberately targeted.
US Secretary of State Marco Rubio said that discussions aimed at halting the conflict with Iran have shown "some slight progress," while simultaneously echoing Washington's dissatisfaction with its NATO allies.
The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
Gold prices experienced a significant decline in futures trading due to uncertainty surrounding geopolitical tensions in West Asia and conflicting statements regarding the conflict. Investors are also awaiting key macroeconomic data for further direction on interest rate cuts.
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
A US-sanctioned tanker carrying Iranian crude oil is heading to India, marking the resumption of oil imports from Iran after seven years.
The Natanz nuclear facility is one of Iran's key nuclear installations and has previously been at the centre of international concerns over Tehran's nuclear programme.
US President Donald Trump stated that military strikes against Iran could resume if they 'misbehave,' even as he reviews a new proposal from Tehran aimed at ending the paused conflict.
'Buy on dips, buy on dips and sell on rise.'
Amidst the stalling of high-level peace talks between Tehran and Washington, Iran continues to endure severe digital isolation as the nationwide internet blackout reached its 44th day on Sunday.
Each time a deadline almost runs out, President Trump hands out a new one.
In view of the disruptive situations, the Central government has also announced a financial relief package of Rs 497 crores aimed at helping exporters affected by disruptions in West Asia.
Indian equities on Dalal Street saw volatility as global market trends and oil price hike impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for Apr 23, 2026.
Direct talks between the US and Iran, mediated by Pakistan, have failed to produce an agreement after 21 hours of negotiations, with disagreements over Iran's nuclear ambitions and sanctions proving insurmountable.
Indian benchmark indices Sensex and Nifty experienced a significant tumble in early trade, driven by surging global oil prices, continuous outflows by Foreign Institutional Investors (FIIs), and persistent geopolitical uncertainties, particularly in West Asia.
Prime Minister Narendra Modi spoke with Iranian President Masoud Pezeshkian, condemning attacks on critical infrastructure in West Asia and emphasising the importance of safeguarding freedom of navigation and ensuring secure shipping lanes.
The Indian government has directed oil refineries to increase LPG production to ensure a stable supply of domestic cooking gas, amidst concerns over potential disruptions from the escalating Middle East conflict and its impact on imports.
Both sides have now revealed a preference for escalation over strategic defeat, and each new provocation narrows the space for the next pause. The Touska seizure, Iran's refusal to negotiate under blockade, Israel's strikes on Iranian oil infrastructure -- all of these add up to an increasingly untenable situation. This makes the wild card -- Trump and his motormouth -- more consequential than ever, notes Prem Panicker in his must read blog on the Iran War.
A media report indicates the White House was directly involved in crafting a social media post by Pakistan's Prime Minister Shehbaz Sharif, requesting then-US President Donald Trump to extend the deadline on Iran.
The Indian rupee depreciated by 34 paise to close at 93.78 against the US dollar, marking its third consecutive session of decline. This fall is attributed to escalating crude oil prices driven by uncertainty surrounding US-Iran peace talks and fresh attacks in the Strait of Hormuz, alongside significant foreign institutional investor outflows from domestic equity markets.
Argentina has significantly increased its LPG exports to India to help mitigate shortages caused by the ongoing conflict in West Asia. This partnership is becoming increasingly important for India's energy security.
The Kremlin has announced it will not disclose data on crude oil exports to India, citing concerns about 'ill-wishers'. This decision follows reports of increased Russian oil supplies to India and China amid geopolitical tensions.
An Indian-flagged crude tanker safely departed from the UAE's Fujairah after loading oil, despite an attack on the oil terminal. The Indian government is closely monitoring the situation in West Asia to ensure stable fuel supplies and maritime safety.
Equity benchmark indices Sensex and Nifty tumbled in early trade on Monday, with the 30-share BSE Sensex falling 1,613.09 points and the 50-share NSE Nifty plunging 495 points, as the failure of US-Iran negotiations heightened concerns of a prolonged conflict driving crude oil prices sharply higher. Track Sensex, Nifty50 movement and key market drivers for April 13, 2026.
S&P Global Ratings warns that Indian oil marketing companies like IOC, BPCL, and HPCL may face reduced profit margins due to rising crude oil prices and government pressure to maintain stable retail prices.
The OECD projects India's GDP to grow at 7.6% in the current fiscal year and 6.1% in 2026-27, despite global economic challenges stemming from the Middle East conflict and energy price volatility.
When asked about Bessent's announcement allowing certain Russian oil sales to India and whether the US is considering any other moves, including tapping the Strategic Petroleum Reserve (SPR), Trump said, "If there were some, I would do it just to take a little of the pressure off."
Aseem Mahajan, Additional Secretary (Gulf) in the Ministry of External Affairs, on Saturday informed that five Indians have been killed and one is missing due to the ongoing conflict in West Asia. He added that Indian missions remain open round the clock and are constantly working to provide assistance.
Prime Minister Narendra Modi addressed Parliament on the West Asia crisis, advocating for dialogue and diplomacy, ensuring the safety of Indians in the region, and addressing concerns about fuel and food security.
