Indian benchmark indices Sensex and Nifty experienced a significant slump in early trade, mirroring a sharp decline in global equities and a fresh spike in crude oil prices, exacerbated by simmering tensions in West Asia and a global unwinding of the AI-led rally. Track how sensex, Nifty fared on June 8.
Despite the ongoing West Asia conflict causing global trade route disruptions, Mercedes-Benz India reports resilient customer demand, particularly for its new electric CLA sedan, though it faces challenges with component supply delays and escalating shipping costs.
Indian benchmark indices Sensex and Nifty closed lower for the second consecutive day, driven by investor caution over conflicting geopolitical signals from West Asia and fresh foreign institutional investor (FII) outflows.
The vessels are carrying around 92,600 metric tonnes of LPG and have 33 and 27 Indian seafarers onboard, respectively. Visuals showed Pine Gas crossing the critical chokepoint.
Iran blames the US for 'maximalism' and 'shifting goalposts' leading to the collapse of the Islamabad talks.
Pakistan Prime Minister Shehbaz Sharif clarified that the recent Memorandum of Understanding (MoU) signed between the US and Iran does not include provisions regarding Tehran's ballistic missile programme. This statement followed talks with Iranian President Masoud Pezeshkian, with Sharif emphasising Iran's right to its defence capabilities and Pakistan's role as a mediator in the US-Iran peace process.
US Secretary of State Marco Rubio met with Pakistan's Foreign Minister Ishaq Dar amid American demand that countries mediating the peace talks with Iran join the Abraham Accords and establish diplomatic and economic ties with Israel.
The West Indies and South Africa cricket teams are scheduled to leave India after being stranded due to travel restrictions caused by the Middle East conflict following their T20 World Cup campaigns.
Prime Minister Narendra Modi has urged for restraint in the use of petro products due to the West Asia crisis, emphasising the need to save foreign exchange and reduce the impact of war. He also highlighted India's progress in solar power and ethanol blending, while assuring support to Telangana's development.
The BRICS foreign ministers' meeting in New Delhi concluded without a joint statement due to disagreements over the West Asia conflict, with Iran blaming the UAE for the lack of consensus. India, as the host, issued a chair's statement highlighting the differing views.
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.
India's crude oil imports from Russia reached a record high of approximately 2.73 million barrels per day (mbpd) in June, driven by discounts of $2-5 a barrel. This surge comes as the West Asia crisis disrupted supplies from traditional sources and China reduced its own purchases, leading Russia to offer more favourable terms to India.
Defence Minister Rajnath Singh assures India's energy security amidst West Asia tensions, highlighting naval protection of tankers and readiness to counter cross-border terrorism.
An Indian national has reportedly been killed in an attack carried out by Iran using a 'suicide' boat against a US-owned oil tanker near Iraq. The incident has raised concerns about the safety of seafarers in the region.
US President Donald Trump said the United States faces a stark choice in its approach to Iran, either to pursue a negotiated settlement or escalate militarily, as tensions continue to rise in the West Asia region.
Chinese foreign ministry spokesperson Mao Ning said that the country believes that dialogue and negotiation are the only viable solutions to resolving disputes and that the continued escalation of the conflict serves no one's interests.
Despite reporting a weaker-than-expected net loss of Rs 2,536 crore for Q4FY26, largely due to a significant non-cash forex loss, analysts remain optimistic about IndiGo's long-term prospects, citing strong demand trends, a favourable pricing outlook, and strategic cost-control measures.
The Indian government is set to accelerate reforms, including measures to enhance foreign direct investment, speed up divestment, and boost asset monetisation, to maintain economic growth despite rising fuel and fertiliser import costs driven by the West Asia crisis.
Pakistan Prime Minister Shehbaz Sharif on Thursday signed the historic peace deal between the United States and Iran as a guarantor; the agreement will see the immediate reopening of the Strait of Hormuz and the lifting of the US naval blockade.
Amidst escalating tensions in West Asia, Russian President Vladimir Putin is actively calling for de-escalation and political resolution, engaging with Iranian and US counterparts to navigate the complex conflict landscape.
The Board of Control for Cricket in India (BCCI) today announced the schedule for the first phase of the Indian Premier League (IPL) 2026, to be played from March 28 to April 12, 2026.
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
US President Donald Trump on Monday claimed that Iran had requested a meeting with the US after the recent military escalation between the two sides over the Strait of Hormuz and announced that talks with Tehran would take place in Doha, Qatar, on Tuesday, despite Iranian officials stating that no technical meetings have been scheduled this week.
Foreign Ministers from Pakistan, Saudi Arabia, Turkiye, and Egypt convened in Antalya to explore avenues for enhanced cooperation across various sectors of mutual interest, reaffirming their commitment to regional peace and stability.
Analysts predict that the ongoing conflict in West Asia, crude oil prices, and global trends will significantly influence the Indian stock market in the upcoming holiday-shortened week. Foreign investor activity and rupee movement will also be crucial.
Reserve Bank of India (RBI) Governor Sanjay Malhotra stated that preventing second-round effects of supply shocks, where inflation expectations rise due to prolonged disruptions, is the primary role of monetary policy. He also defended the RBI's foreign exchange market interventions, asserting it did not commit to an 'indefensible peg'.
The representative of Iran's Supreme Leader in India expressed gratitude towards Indians, calling India a land of 'loyalty and humanity'.
Trump further alleged that Iran was behind the attacks on three vessels carrying Indian seafarers near the Hormuz Strait, which resulted in the deaths of three, despite the US Central Command having confirmed that the strikes were carried out by American naval forces, calling the incident "totally unacceptable."
India's foreign exchange reserves increased by USD 938 million to USD 682.321 billion during the week ended May 28, according to the Reserve Bank of India, following a previous week's drop.
Iran has submitted its latest proposal aimed at advancing negotiations to end the ongoing West Asia conflict with the US, days after the Islamic Republic submitted a fresh proposal through regional intermediaries to cease its military operations in the Strait of Hormuz, which is likely to get rejected by Washington.
India's exports reached a six-month high, growing by 18 per cent to USD 45.2 billion in May, driven by electronic goods, petroleum products, engineering items, and pharmaceuticals. However, the trade deficit widened to USD 28.21 billion due to a 10 per cent rise in imports, particularly petroleum products and gold, amidst surging crude oil prices.
The US and Iranian delegations left Pakistan after failing to reach an agreement in historic talks aimed at resolving the West Asia conflict and stabilising global energy markets.
New completions in India's office real estate sector fell by 36 per cent to 9.7 million square feet in Q1 2026, the lowest in four quarters, primarily due to developers adopting a cautious stance amid global uncertainties, particularly in Bengaluru, Hyderabad, and Mumbai. Despite this, office absorption increased by 20 per cent, indicating strong occupier demand.
A potential US-Iran peace deal, expected to be signed on June 19, is anticipated to ease geopolitical stress and benefit various sectors, particularly in India, with analysts suggesting investors await finer details before making significant moves.
Congress leader Rahul Gandhi has criticised Prime Minister Narendra Modi's foreign policy and his remarks referencing the COVID-19 pandemic in relation to the West Asia situation.
Indian benchmark indices Sensex and Nifty surged significantly in early trade, mirroring a global rally and a sharp decline in crude oil prices following the finalisation of a peace deal between the US and Iran to end their 107-day conflict and reopen the Strait of Hormuz.
Foreign Portfolio Investors (FPIs) have withdrawn Rs 19,837 crore from Indian equities in the first two trading sessions of April, extending a significant selling trend from March, driven by geopolitical uncertainty, rising crude oil prices, and a depreciating rupee.
Iran has not closed the Strait. It remains open; however, due to current conditions and circumstances, ships are unable to pass through the Hormuz. Otherwise, Iran never wanted the Strait to be closed or blocked, the supreme leader's representative said.
India's foreign policy establishment is adjusting with alacrity in real time -- an extraordinary spectacle in itself, considering the manifest reluctance to indulge in public diplomacy critical of American moves, observes Ambassador M K Bhadrakumar.
Prime Minister Narendra Modi and US President Donald Trump discussed the Middle East crisis, with a focus on the Strait of Hormuz.
