Geo-political concerns over death of a Saudi journalist, Brexit and likely breach in Italy's budget also kept investors cautious.
The United States has protested against India's move to discriminate against US exports by requiring solar power developers to use Indian-manufactured equipment instead of US equipment.
'A small boat with a single sail cannot withstand the stormy waves, and only by working together can we sail steadily and far,' Xi told the Vietnamese leadership.
Using an expletive in his post on X, Navarro said, "Fact: India didn't buy Russian oil in large quantities before Russia invaded Ukraine. It's blood money and people are dying."
During a visit to the UK, former US President Donald Trump reiterated his claim of intervening to resolve a conflict between India and Pakistan, linking it to trade negotiations. He also discussed tariffs on India for buying Russian oil and the Russia-Ukraine conflict.
The White House trade adviser, Peter Navarro, on Sunday (local time) again added to his previous meltdown, after being corrected over spreading misinformation pertaining to India's purchase of Russian oil, by dismissing the community notes on X and accusing it of serving 'foreign interests' that meddle in domestic US economics and politics.
The trade relationship between India and the United States has been strained by the imposition of 25% tariff by the US on Indian goods.
While growth in India is largely domestic and hence the overall GDP effect may not be more than 0.15-0.2%, but overall trade will be impacted due to every country going back to the drawing board, points out Madan Sabnavis.
Miller said that US President Donald Trump has a 'tremendous' relationship with Prime Minister Narendra Modi, and that the peace options for the region are on the table.
'Given the lag in transmission, further softening of lending rates may happen in the coming months.'
Equity benchmark indices Sensex and Nifty tumbled in early trade on Monday amid heightened tensions in the Middle East after the US bombed three major nuclear sites in Iran. The 30-share BSE Sensex tumbled 705.65 points to 81,702.52 in early trade. The 50-share NSE Nifty dropped 182.85 points to 24,929.55.
Sullivan remarks come amid the rising friction between Washington and New Delhi due to the 50 percent tariffs imposed on Indian goods, which include a 25 percent penalty for buying Russian oil.
The rupee has held its ground against the US dollar in the 2025 calendar year so far, but depreciated significantly against the euro and pound. It fell by 6.83 per cent, and 5.44 per cent against the euro and pound respectively, as the two currencies strengthened significantly against the greenback during the period.
Tata Steel and Tata Motors dropped over 10 per cent each. Larsen & Toubro, HCL Technologies, Adani Ports, Tech Mahindra, Infosys, Tata Consultancy Services, Reliance Industries and Mahindra & Mahindra were the other big laggards.
A US official has stated that India's continued purchase of Russian oil is a point of contention in the relationship between the two countries, as it helps fund Russia's war efforts in Ukraine.
Operation Sindoor has not yet been formally called off. What was the crying need to send a team when it was known that there could be a match with Pakistan? asks Vice Admiral Biswajit Dasgupta (retd).
Former White House trade advisor Peter Navarro has criticised India for continuing to procure Russian oil, alleging profiteering and contributing to the Russia-Ukraine war. India defends its energy procurement as driven by national interest and market dynamics.
'As the global economy undergoes significant transformations in 2025, India's ability to navigate the complexities of trade wars, financial realignments, and emerging blocs will be pivotal,' explain Harsh V Pant and Soumya Bhowmik.
White House press secretary Karoline Leavitt on Tuesday once again claimed that United States President Donald Trump has ended the military conflict between India and Pakistan.
Gold prices on Tuesday surged Rs 723 to touch an all-time high of Rs 110,312 per 10 grams in the domestic futures market, tracking strong global cues amid growing expectations of a US Federal Reserve interest rate cut next week. Traders said weak US labour market data has strengthened the case for monetary policy easing, putting pressure on the dollar and boosting demand for the safe-haven asset.
External Affairs Minister S Jaishankar met Russian President Vladimir Putin to discuss ways to further expand India-Russia ties, following talks with Foreign Minister Sergey Lavrov focusing on trade.
Prime Minister Narendra Modi and Chinese President Xi Jinping are set to meet in Tianjin on Sunday, their first in about 10 months, for wide-ranging talks aimed at improving relations.
'Deposit and lending rates have started to fall considerably. It is likely to spur investment and consumption of durables.'
Trump's one-on-one meetings with Putin during his first term were clouded with mystery. With only a translator inside the room, it was often unclear what exactly was discussed. Aides had a difficult time ascertaining if the two reached any agreements. After one such meeting, in Germany, Trump asked his interpreter to discard his notes.
In response to US criticism of India's oil imports from Russia, the Indian Army shared a 1971 news clip highlighting the US's role in arming Pakistan.
Trump's new rules for how countries should treat him have led to the current breakdown in India-US relations, explains Ambassador T P Sreenivasan.
US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.
Investors should avoid making drastic changes to their asset allocation during a market correction.
"India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump said in a social media post on Monday.
United States President Donald Trump on Tuesday said India has not been a good trading partner and announced that he will raise the tariffs on New Delhi 'very substantially' over the next 24 hours because it is buying Russian oil.
Investors' wealth tumbled by Rs 9 lakh crore on Friday, in tandem with a sharp decline in the domestic equity market, where the benchmark Sensex plunged 1,414 points following a bearish trend in global equities. Fresh tariff threats that ignited global trade war fears and relentless foreign fund outflows dented investor sentiment, analysts said.
Foreign investors have pulled out Rs 31,575 crore from the country's equity markets so far this month, in the wake of turbulence emanating from sweeping tariffs imposed by the US on most nations, including India. This came following a net investment of Rs 30,927 crore in the six trading sessions from March 21 to March 28. This infusion helped reduce the overall outflow for March to Rs 3,973 crore, according to data from the depositories.
In the short run, the Trump presidency has already ensured one thing: The assumptions of the past can no longer guide the strategies of the future, points out Manish Dabhade.
Prime Minister Narendra Modi is likely to address the UN General Assembly in September. The session will address global conflicts and trade negotiations between the US and India.
Foreign brokerages remain cautious on the road ahead for the Indian equity markets. Though analysts at Nomura have revised their March 2026 Nifty target to 26,140 levels from the earlier 24,970, but the upside from the current levels is a modest 6 per cent. BofA Securities, on the other hand, has not made any change to its year-end Nifty target.
Foreign investors continue to show confidence in the country's equity market, infusing Rs 18,620 crore so far this month, driven by a combination of global tailwinds and improving domestic fundamentals. This positive momentum follows a net investment of Rs 4,223 crore in April, marking the first inflow in three months, data with the depositories showed.
United States President Donald Trump paid homage to soccer great Pele after being met with boos and cheers from the crowd at the Club World Cup final on Sunday at MetLife Stadium in East Rutherford, New Jersey.
New Delhi, while opting not to retaliate yet to the American tariffs, has in recent weeks sought to reinforce its friendship with Moscow, and recalibrate its ties with Beijing rather than surrender to Washington's diktats.
Calling the community note on X "crap", Navarro alleged that Elon Musk is allowing "propaganda" and reiterated his accusations of India purchasing Russian oil only to make profits.
New Delhi might have loudly welcomed an age of multipolarity, hedging and strategic autonomy. But it seems the winner in that game is Islamabad, not us, points out Mihir S Sharma.
