In a dramatic escalation of tensions, Israel launched airstrikes early Friday targeting key nuclear facilities in and around Iran's capital Tehran.
'The devastating Indian Air Force strikes on the night of May 9-10 exposed Pakistan's vulnerabilities.' 'If these had continued, it would have further degraded Pakistan's ability to continue with air operations.'
Gold prices advanced Rs 700 to reach a new lifetime high of Rs 91,950 per 10 grams in the national capital on Wednesday on the back of continued buying by jewellers ahead of wedding season, according to the All India Sarafa Association. Besides, increased tensions in the Middle East and concerns about the US economic slowdown have kept the demand for safe-haven assets intact.
The ministry of finance is likely to assume crude oil price to remain within $85 per barrel while estimating subsidies for the Interim Budget 2024-25 (FY25), to be presented on February 1. Brent crude prices moved up on Thursday, ending at $78.9 per barrel. Crude oil and cooking gas prices, which move in tandem, impact fertiliser and cooking gas subsidies, constituting 53 per cent of the government's total subsidies.
While India has become the largest data generating nation, and hosts more than 152 data centres, it is fed by only 18 undersea cables.
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
The Kananaskis gathering on June 16-17 is the Prime Minister's 6th consecutive participation in the G7 Summit.
Israel and Lebanese Shia group Hezbollah have carried out widespread strikes on each other, raising tensions, and prompting Israel Home Front command to issue precautionary advisory to citizens.
Top government officials in New Delhi have started discussions with stakeholders ranging from shipping and container companies to export promotion councils to understand the impact of the Iran-Israel tensions and plan ahead. Inter-ministerial talks are also being lined up amid the crisis situation in West Asia, sources confirmed. While the crude flows are not directly under any threat, elevated oil prices remain a concern, according to officials.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
'Given that the situation is quickly escalating, such attacks will affect the flow of crude in the short term from West Asia' Subhayan Chakraborty and Dhruvaksh Saha report.
From the 30 Sensex firms, Mahindra & Mahindra, Bajaj Finance, Asian Paints, Nestle, Bharti Airtel, UltraTech Cement, Hindustan Unilever, ITC, and HDFC Bank were the major laggards. In contrast, Infosys, Tech Mahindra, Tata Motors, Axis Bank, Tata Consultancy Services and State Bank of India were among the gainers.
'War is not an answer. War is not a solution.' 'Deterrence is a solution. We should have the stick with us with which we can beat Pakistan.'
In his opening remarks at the virtual summit of Leaders of G20 countries, Modi made it clear that terrorism was "unacceptable" to everyone and the death of civilians, anywhere, was condemnable.
Global financial markets are wrong in hoping that the worst is over in geopolitical crises such as the Iran-Israel conflict and the Russia-Ukraine war, wrote Christopher Wood, global head of equity strategy at Jefferies, in a recent note to investors called 'GREED & fear'. While most investors and the media are focused on United States (US) Federal Reserve policy and the "endless chatter" of Fed governors, Wood believes the news flow in the financial sphere "pales into complete insignificance" compared with the "tectonic shifts" going on in geopolitics.
Pakistan have sealed their spot in the ICC Women's Cricket World Cup 2025 after a flawless campaign in the Qualifiers - but their participation has already stirred controversy.
As tensions continue to rise, the Israeli public remains on high alert, bracing for the possibility of further incidents.
India on Friday asked its citizens not to travel to Iran and Israel amid increasing fears that Tehran may launch an attack on Israeli soil in retaliation to a strike on the Iranian consulate in Syria 11 days ago.
India is preoccupied with analysing the US sanctions, which may cut off India's access to discounted Russian crude and force it to buy at market prices.
The new Samvat 2080 is viewed as a year of hope for industrial and precious metals. A key reason is the expectation of US interest rates peaking, followed by a reduction in the coming months. Regarding crude oil, its trajectory depends more on how the situation unfolds in West Asia.
As tension escalates in West Asia, the United States has dispatched three warships to the region to be on standby in the event of a need, even as President Barack Obama and Secretary of State Hillary Clinton spoke to world leaders in efforts to defuse the crisis.
'We share concerns regarding terrorism, violence and loss of civilian lives. We agree on the need for early restoration of peace and stability and facilitating humanitarian assistance'
'Even now, investors are not bothered about the war but are more concerned whether it will remain localised or not.' 'In case things are contained, markets can stage a bounce back in the next few days.'
From the outcome of the general elections and then Union Budget to tepid corporate earnings in the September 2024 quarter (Q2-FY25), sticky inflation and Reserve Bank of India's stance on interest rates, extreme weather conditions, Indian stock markets have braved it all in calendar year 2024.
Acutely conscious that he's left with less than four years to create his legacy, Trump is undoubtedly a man in a hurry, observes Ambassador M K Bhadrakumar.
Foreign portfolio investors (FPIs) have withdrawn Rs 25,305 crore from domestic markets since September. FPIs were net sellers in the first two months of 2023, but from March to August, they purchased equities worth Rs 1.7 trillion. This selling trend has caused the National Stock Exchange Nifty Index to decline by 3.2 per cent from its September highs. FPI selling initially began in September as profit-taking but intensified due to rising US bond yields and uncertainty regarding the rate hike trajectory.
Escalation of the conflict in West Asia between Israel and Iran has had a direct impact on the energy markets, and more broadly on the financial markets as well as the global economy.
From the 30 Sensex firms, Larsen & Toubro, Reliance Industries, Axis Bank, Asian Paints, Tata Motors, Bajaj Finance, Maruti, Bajaj Finserv, Kotak Mahindra Bank, Titan, Adani Ports and HDFC Bank were the major laggards. JSW Steel emerged as the only gainer.
'Fears in Washington began to intensify when it was realised that subsequent Pakistani and Indian attacks on major military facilities -- which were significant in terms of geographic scope and intensity -- could rapidly take both sides to where neither actually wanted to go.' 'The US objective was to stop the fighting as soon as possible. Everything else was secondary.'
'The first and most basic responsibility of any government is to protect its people from external threats and internal harm.' 'Budget 2025-2026 has to focus on meeting this responsibility,' asserts R Jagannathan.
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
Foreign portfolio investors (FPIs) have net sold domestic shares worth over $10 billion so far this month amid a shift to China, which not only offers attractive valuations compared to India but has also announced several measures to support the economy and the stock market in recent weeks. If the trend doesn't reverse, this will be the first time that overseas funds will yank out more than $10 billion from Indian equity markets in a month.
Iran's Islamic Revolution Guard Corps (IRGC) said the attack was aimed at "specific targets".
'We are too important to want to be paired with Pakistan but too intensely connected to it to successfully detach ourselves,' asserts Aakar Patel.
The announcement comes as the military conflict between Hamas militants and Israel continued for the fifth day.
'Over the next 12 months, it will be difficult to make 15 to 20 per cent return in the markets as the valuations appear stretched.'
India pacer Avesh Khan was ruled out of the remainder of Asia Cup because of illness.
India's net oil import bill could widen to $101-104 billion in current fiscal from $96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of $7.9 billion in 11 months (April-February) of 2023-24, up from $5.1 billion in 2022-23.
Sources are in touch with Iranian authorities through diplomatic channels, both in Tehran and in Delhi.
From the Sensex basket, Tata Motors, State Bank of India, Tata Steel, Power Grid, NTPC, Bajaj Finserv, Bajaj Finance and Asian Paints were the major laggards.
