Indian benchmark equity indices Sensex and Nifty experienced a significant crash in early trade, triggered by a sharp increase in crude oil prices and escalating tensions in the Middle East.
The Iran conflict led to a sharp correction in Reliance Industries Ltd's (RIL's) share price, which has been partially reversed by a rebound.
Indian benchmark indices Sensex and Nifty experienced a significant decline in early trade, with the Sensex falling over 500 points and the Nifty over 150 points, as Brent crude oil prices surged past USD 100 per barrel due to escalating geopolitical tensions in the West Asia. track sensex, Nifty on July 24.
'Rather than deploying all their money at once, investors should invest gradually.' 'A staggered approach is the better strategy because volatility is likely to persist.'
'If the war continue for a longer period of time, it is just a matter of time before the government will pass on some of the price increases.'
The government maintained a strong pace of capital expenditure, which jumped nearly 24 per cent to Rs 3.40 trillion in April-June.
Two Indian nationals have been confirmed dead and one is missing following attacks on merchant vessels amidst the ongoing conflict in West Asia. The Indian government has reiterated its commitment to the welfare of its citizens in the Gulf region.
Despite international crude oil prices falling to a four-month low, retail petrol and diesel prices in India are unlikely to be cut immediately because state-run refiners are still processing costlier crude purchased during the peak of the West Asia crisis, Oil Minister Hardeep Singh Puri said.
Congress leader Rahul Gandhi has criticised Prime Minister Narendra Modi's call for citizens to make economic sacrifices in response to the West Asia conflict, calling it 'evidence of failure'. Gandhi accused Modi of shifting responsibility onto the public and being incapable of running the country.
India has voiced deep concern over a drone attack targeting the Barakah nuclear facility in the United Arab Emirates (UAE), calling it a dangerous escalation in the West Asia conflict.
'We may be able to wind back some of the schedule reductions we'd taken in recent months.'
US Vice President JD Vance has postponed his visit to Switzerland for technical talks with Iranian negotiators, citing logistical issues. These negotiations are crucial for finalising the details of a recently signed peace deal between the US and Iran, which aims to end the conflict in West Asia and includes a 60-day period for technical discussions.
US Secretary of State Marco Rubio says relations between India and the US have not lost momentum and are set to strengthen, with hopes for a trade deal soon.
The Indian rupee is highly vulnerable among Asian currencies, with Barclays and MUFG warning of a potential depreciation towards 100/$ if the West Asia conflict persists, driven by widening current account deficits and elevated crude oil prices.
India's foreign exchange reserves saw a significant drop of USD 5.654 billion, settling at USD 666.933 billion for the week ending June 26, following interventions by the RBI and public appeals by Prime Minister Narendra Modi to conserve forex.
Navy Chief Admiral Dinesh K Tripathi revealed that the Indian Navy was on the verge of striking Pakistan during Operation Sindoor following the Pahalgam terror attack, but kinetic actions were stopped. He also discussed the impact of the West Asia conflict on maritime traffic.
Prime Minister Modi has urged citizens to adopt measures like judicious fuel use, postponing gold purchases, and deferring foreign travel to strengthen India's economy in the face of the West Asia conflict's adverse impact.
Indian benchmark equity indices, Sensex and Nifty, opened higher, tracking positive global trends and easing crude oil prices, fueled by hopes of a swift resolution to the West Asia conflict. Track Nifty 50 and BSE Sensex performance and key global triggers.
India's foreign exchange reserves decreased by USD 10.288 billion to USD 688.058 billion during the week ending March 27, according to the Reserve Bank of India (RBI). This decline follows a previous decrease and comes after the reserves reached an all-time high in February.
An India-flagged vessel carrying 15,400 tonnes of liquefied petroleum gas (LPG) successfully crossed the Strait of Hormuz and arrived at Jawaharlal Nehru Port Authority (JNPA), demonstrating the resilience of maritime operations amid geopolitical tensions in West Asia.
'Periods of heightened volatility, driven by global events such as tariffs and geopolitical tensions over the past year-and-a-half, can make some investors pause or discontinue their investments.'
The Federation of Indian Export Organisations (FIEO) has appealed to the Reserve Bank of India (RBI) for liquidity support to Indian exporters, citing a significant increase in freight costs and extended payment cycles due to the ongoing West Asia conflict.
Akasa Air, despite facing headwinds from the West Asia conflict and rising aviation turbine fuel prices, expects to maintain a 30-40 per cent growth trajectory over the next five years and aims for an initial public offering (IPO) within two to four years, according to CFO Ankur Goel.
Iranian Foreign Minister Abbas Araghchi has urged Pakistan to use its diplomatic influence to help de-escalate the current regional situation and support efforts to maintain the ceasefire.
The BSE Sensex and the Nifty 50 declined around 4.5 per cent each since the start of the West Asia conflict.
The start of the West Asia conflict has led to a sharp increase in crude-linked raw material prices, pushing up the price of helmets across the country.
Hezbollah is upset that the IDF exposed their plans to massacre Israelis, so they decided to target innocent civilians by firing a barrage of rockets, the IDF further said.
India's toll collection growth is projected to moderate to 5-7 per cent year-on-year in FY27, a 150-200 basis points reduction, primarily due to the economic impact of the West Asia conflict and a slowdown in commercial traffic, according to Crisil Ratings.
Analysts are revising down India Inc's financial year 2026-27 (FY27) earnings growth forecasts, citing persistently high crude oil prices above $100 a barrel due to the West Asia conflict, which is expected to dent corporate financial performance in the coming quarters.
India's state-run oil marketing companies (OMCs) are projected to incur under-recoveries of approximately Rs 80,000 crore on liquefied petroleum gas (LPG) sales in FY27 if current loss levels persist, according to rating agency Icra.
Prime Minister Narendra Modi will chair a meeting with senior ministers to assess the petroleum, power, and fertiliser sectors in light of the ongoing situation in West Asia, focusing on ensuring uninterrupted supply and stable logistics.
'Healthy double-digit returns are still possible, though a sharp rally is unlikely.'
India's foreign exchange reserves saw a significant increase of $10.512 billion, reaching $692.866 billion for the week ending July 31, driven by a rise in foreign currency assets and gold reserves.
Prime Minister Narendra Modi will chair a meeting with senior ministers to review the petroleum, power, and fertiliser sectors in light of the evolving situation in West Asia, focusing on ensuring uninterrupted supply and stable logistics.
Amidst the escalating conflict in West Asia, India is actively engaged in diplomatic efforts to protect its energy security interests and ensure the safety of its diaspora in the region.
Indian stock markets are set to be influenced by developments in US-Iran negotiations, crude oil prices, and foreign investor activity in the upcoming holiday-shortened week, according to market analysts.
A vessel carrying 20,000 metric tonnes of Liquefied Petroleum Gas (LPG) arrived at Deendayal Port Authority in Kandla, Gujarat, after crossing the Strait of Hormuz amid the West Asia crisis.
Most members of the Reserve Bank of India's Monetary Policy Committee (MPC) expressed concerns about inflation becoming generalised and highlighted uncertainties surrounding both inflation and growth prospects due to the West Asia conflict, according to the recently released minutes.
Nomura has increased its March 2027 target for the Nifty 50 to 25,900, driven by strong corporate earnings and attractive market valuations, even as risks from the West Asia conflict and high oil prices persist.
India's foreign exchange reserves increased by USD 6.118 billion, reaching USD 682.354 billion for the week ending July 24, according to the Reserve Bank of India.
