The Indian rupee experienced its sharpest single-day decline in eight weeks, settling at 94.83 per dollar, primarily due to escalating crude oil prices and persistent risk-off sentiment driven by heightened geopolitical tensions and limited foreign inflows.
Indian benchmark indices Sensex and Nifty experienced a significant slump in early trade, mirroring a bearish trend in global equities, as escalating conflict in West Asia drove up crude oil prices and intensified investor concerns.
The RSS-affiliated Swadeshi Jagran Manch (SJM) has urged the government to reconsider imposing a merchant discount rate (MDR) on UPI transactions above Rs 2,000, arguing that the costs do not warrant such a move. This comes after the government announced a 0.4 per cent fee on merchant transfers over Rs 2,000 from October 15, while assuring that person-to-person and small payments remain free. SJM co-convener Ashwani Mahajan highlighted that banks have not demanded MDR and that UPI has reduced their transaction costs.
The Congress party has strongly criticised the Modi government's decision to introduce a 0.4% Merchant Discount Rate (MDR) on UPI transactions over Rs 2,000, alleging it is a result of US pressure to benefit American card companies. The party also linked this move to broader US actions against India, including tariffs and H-1B visa issues, coining the term "Narendra's Ongoing Trump Appeasement." The government, however, clarified that consumers will not bear the charge, which applies only to merchants.
The Congress party has accused the Modi government of succumbing to US pressure by introducing a 0.4% Merchant Discount Rate (MDR) on UPI transactions over Rs 2,000 for merchants. The party alleges this move aims to benefit US card companies and links it to broader US actions against India, including tariffs and H-1B visa issues. The government, however, clarifies that consumers will not be charged.
Indian stock market benchmark indices Sensex and Nifty recorded their second consecutive day of decline, with the Sensex dropping 555.23 points and the Nifty falling 144.05 points, primarily due to rising crude oil prices and ongoing US-Iran hostilities in West Asia.
The FCNR (B) stratagem relies on using public money to defend the rupee. The State subsidises foreign borrowing to attract dollars. This tool requires large-scale borrowing to make a material difference against a gross external flow of $11 billion a day. A commensurately large fiscal cost falls upon the exchequer. The ministry of finance will choose how much it is willing to spend in exchange for this round number, points out Ajay Shah.
Indian benchmark indices Sensex and Nifty experienced declines in early trade, influenced by the escalating US-Iran standoff and persistently high crude oil prices, with experts predicting increased volatility.
The Indian government has introduced a 0.4% transaction fee on UPI payments above Rs 2,000 for merchants, effective October 15, sparking a political row. The Congress party has labelled it a "Modi tax" and accused the government of succumbing to US pressure, while the BJP has defended the move, clarifying that consumers will not be charged and small vendors are protected. The finance ministry reiterated that the charge is on merchants, not customers.
The opposition has strongly criticised the government's decision to introduce a 0.4% Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 for merchants, effective October 15. They allege the move is a result of US pressure and will lead to increased commodity prices, calling it a "betrayal" of the common man. The government, however, clarifies that customers will not be charged, and the MDR applies only to merchants for larger transactions.
Gold prices in India extended their losing streak, falling by Rs 1,500 to Rs 1,60,900 per 10 grams, influenced by hawkish remarks from Federal Reserve Chair Kevin Warsh and rising oil prices, which have increased expectations of an interest rate hike.
Indian benchmark indices, Sensex and Nifty, closed lower on Monday due to elevated crude oil prices, escalating US-Iran hostilities, and concerns over a potential US interest rate hike, impacting investor sentiment.
The benchmark Sensex plummeted 813 points to a three-month low, with the Nifty settling below 23,450, as escalating tensions in West Asia drove crude oil prices above USD 100 per barrel, leading to widespread selling in IT, FMCG, financial services, and oil & gas shares.
The Indian junior women's hockey team played a goalless draw against China in their final elite pool match of the Junior Asia Cup. This result secured India the top spot in their pool due to a superior goal difference, setting up a quarter-final clash against Pakistan.
French football superstar Kylian Mbappe has ended his long-standing partnership with Nike to join the rapidly expanding Swiss sportswear brand On, a move that provides On with a high-profile figure for its entry into football and marks another significant defection for the US giant.
Senior Congress leader Shashi Tharoor has articulated India's position on BRICS, advocating for it to be a "non-West, but not anti-West" platform, a stance he believes is crucial for India's national interest. He highlighted the prestige of hosting the BRICS summit, India's responsibility to represent the Global South, and the significance of bilateral meetings, particularly with China and Russia. Tharoor also addressed the strained India-China relations, citing border issues and trade leverage, and discussed the challenges within BRICS, including difficulties in achieving consensus on global issues and trade imbalances, while also considering the need for diversified international relations amidst unpredictable US sanctions.
The Bombay High Court strongly criticised the Pune administration's decision to ban alcohol sales for 10 days during the Ganesh festival, questioning why Pune was singled out for such restrictions while other regions were not. The court deemed the blanket ban arbitrary and stigmatising for Pune residents, urging the administration to withdraw the order or face judicial intervention.
'UPI has been free since Covid, so why is the government charging us now?'
Indian benchmark indices, Sensex and Nifty, saw declines in early trade, with the ongoing US-Iran standoff cited as a major factor impacting investor sentiment and raising concerns about inflationary pressures and currency volatility for oil-importing nations like India. Track Sensex, Nifty on August 14, 2026.
Carlos Alcaraz, the defending champion, secured his spot in the US Open quarter-finals by defeating American Tommy Paul in straight sets. Alcaraz showcased a dominant performance, extending his major match-winning streak and expressing confidence in his return to top form after a wrist injury.
The Indian government has introduced a 0.4% fee on UPI transactions above Rs 2,000 for merchants, effective October 15, sparking strong opposition from political parties and traders. Despite accusations of foreign influence and demands for a rollback, the finance ministry and top functionaries have stated there will be no reversal, citing the need for a self-sustaining digital payments ecosystem.
Analysts predict that developments in the West Asia conflict, crude oil prices, and upcoming US inflation data will be the primary factors influencing the Indian stock market next week, alongside foreign investor activity and global market trends.
Indian information technology (IT) stocks, led by Infosys, experienced a significant selloff, dragging the Nifty to a two-month low, primarily due to escalating West Asian tensions pushing crude oil prices higher, and concerns over upcoming large IPOs diverting funds from secondary markets. The sector is also grappling with the long-term implications of AI disruption.
Indian benchmark equity indices, Sensex and Nifty, traded marginally higher in early deals despite cautious global cues stemming from elevated crude oil prices due to geopolitical uncertainties and a sharp fall in US markets. Track Sensex, Nifty on August 21, 2026.
Indian stock markets closed lower due to selling in IT and FMCG shares, triggered by renewed tensions in West Asia which led to a rally in crude oil prices and concerns over inflation and interest rates.
India's power sector is undergoing a significant transformation, driven by a planned shift towards renewable energy and ambitious capacity expansion targets, with major players like NTPC, JSW Energy, Adani, and Tata Power prioritising predictable returns. However, execution challenges and valuation concerns remain critical factors for sustained growth.
Indian benchmark indices Sensex and Nifty saw declines in early trade, influenced by elevated crude oil prices stemming from renewed geopolitical uncertainties, particularly concerns surrounding the Strait of Hormuz. Track Sensex, Nifty on August 11, 2026.
Indian sprinter Gurindervir Singh, who holds the national record in the men's 100m, expressed renewed focus and confidence for the upcoming Asian Games after recovering from a hamstring injury that affected his Commonwealth Games performance. He stated he is "completely fit" and performing personal bests in training.
'You have to get private investment to somewhere between 35% to 36% of GDP. It is hovering about 30%-31%.'
American tennis star Taylor Fritz was unexpectedly defeated by Argentina's Francisco Cerundolo in a five-set thriller during the third round of the U.S. Open, marking Fritz's earliest exit from his home major in four years. Cerundolo's improved play in the latter sets secured his first-ever spot in the U.S. Open fourth round.
Urban Indian millennials are caught in an algorithmically amplified consumption spiral where social media normalises spending patterns that systematically undermine retirement security.
'If crude remains above $100 per barrel, with restricted retail-price increases, OMCs could face negative petrol and diesel marketing margins, higher LPG under-recoveries, higher crude-landing, freight and insurance costs, working capital and debt accumulation and inventory losses if crude subsequently corrects sharply.'
'Wages have not risen. Rural wages have stagnated. The growth was 0.7 per cent last year. For casual and irregular labour, the wage growth is negative.'
In the Global Chess League, Ganges Grandmasters ended FYER American Gambits' winning streak with a 9-7 victory, moving to second place. Defending champions Alpine APL Pipers secured their second consecutive win, defeating Ganges Grandmasters 11-6. Key players like Polina Shuvalova, Ian Nepomniachtchi, Vidit Gujrathi, and Koneru Humpy delivered crucial performances, while Magnus Carlsen showcased his endgame prowess with a draw against Nepomniachtchi. PBG Alaskan Knights also registered a comfortable win against CheQ Mumba Masters.
On the 25th anniversary of that world-changing morning in New York, it is also for the rest of to reflect. Not only on those who were killed but also on why the event happened and what led to it and what came after it, asserts Aakar Patel.
From identifying an entry and invalidation level to deciding position size and exit conditions, traders can map out much of the decision-making process before placing an order. Here is how that works in practice.
A working paper by the Economic Advisory Council to the Prime Minister (EAC-PM) reveals a continuous decline in the rate at which foreign-owned firms invest in fixed assets in India since the FY20 peak, contrasting with a steady increase from Indian business groups.
HDFC Bank's share in active mutual fund schemes has fallen to multi-year lows, despite overall MF ownership in the bank rising, as the stock faces weak performance, soft margins, and governance concerns.
Many traders spend hours looking for the perfect entry signal, the ideal indicator setup, or the next market-moving opportunity. Yet some of the biggest differences between consistent traders and struggling traders have little to do with finding better trades. They come from managing risk effectively.
Indian stock market benchmarks, Sensex and Nifty, saw gains in early trading, driven by anticipation surrounding the Reserve Bank of India's monetary policy decision, despite mixed global cues and significant FII outflows.
