India has condemned an attack on a Cyprus-flagged commercial vessel off the coast of Oman, which resulted in one Indian crew member going missing. The incident occurred amidst escalating hostilities between Iran and the US in West Asia, prompting India to call for immediate de-escalation and an end to targeting commercial shipping in the region.
Gold prices are expected to remain volatile next week as investors track geopolitical developments in the Middle East and key macroeconomic data releases that could shape the sentiment in the domestic market, analysts said.
US Vice President JD Vance and Prime Minister Narendra Modi held a phone call to discuss expanding the India-US comprehensive global strategic partnership, focusing on trade, defence, energy security, emerging technologies, and critical minerals. The discussion comes amidst rising tensions in West Asia and recent regional realignments, with both leaders reaffirming their commitment to strengthening cooperation.
'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.'
Gold and silver are expected to remain volatile with a corrective bias as investors assess the latest flare-up in the US-Iran conflict, movements in crude oil prices, and inflation data, which could reshape expectations for global interest rates, according to analysts.
Indian benchmark indices, Sensex and Nifty, experienced significant declines, with the Sensex falling 493 points and the Nifty dropping for the sixth consecutive day, primarily due to elevated crude oil prices reaching USD 91 per barrel and diminishing hopes for a diplomatic resolution in West Asia.
India's finance ministry anticipates inflation will remain relatively contained in the coming months, supported by a correction in crude oil prices and softening input costs following the cessation of the West Asia conflict, despite earlier spikes in wholesale and retail inflation.
Non-banking financial companies (NBFCs) reported encouraging results for Q4FY26 with improved asset quality and earnings, but analysts maintain a cautious near-term outlook due to geopolitical tensions, monsoon risks, and specific portfolio concerns.
'...as we believe with the adoption of AI, our IT services companies' revenue models will have to undergo a reset, which may in turn impact their potential for earnings growth.'
'Healthy double-digit returns are still possible, though a sharp rally is unlikely.'
Former Chief Economic Adviser Krishnamurthy V Subramanian outlines India's strategy to become a USD 55 trillion economy by 2047. The plan hinges on leveraging its young demographic in AI, dominating sunrise sectors like space and defence tech, attracting FDI, and achieving sustained 8% GDP growth.
Indian benchmark indices Sensex and Nifty surged in early trade, with the Sensex jumping nearly 700 points, primarily driven by strong buying in IT stocks following TCS's positive June-quarter results and optimistic demand outlook. Track Sensex, Nifty on July 10, 2026.
The Directorate General of Maritime Administration (DGMA) has instructed shipping companies to avoid deploying Indian sailors on vessels transiting the Strait of Hormuz due to the ongoing West Asia crisis, following recent attacks on two vessels carrying Indian seafarers.
Indian benchmark indices Sensex and Nifty traded lower amid volatile trends, influenced by escalating geopolitical uncertainties in West Asia and fresh outflows from Foreign Institutional Investors (FIIs).
Supreme Leader Mojtaba Khamenei has reshuffled Iran's political and national-security establishment, appointing former SNSC Secretary Mohammad Bagher Zolghadr as his political adviser and veteran IRGC commander Mohsen Rezaei as his representative on the Supreme National Security Council, consolidating power amid the West Asia crisis and Strait of Hormuz tensions.
An Indian crew member was killed and six other Indian nationals were among eight injured when Iranian cruise missiles struck two UAE tankers, Mombasa and Al Bahiyah, in the Strait of Hormuz, escalating regional tensions and drawing strong condemnation from the UAE.
Benchmark indices tumbled about 2 per cent on Friday, capping one of the most turbulent weeks for domestic equities as investors fretted that the West Asian conflict could drag on for weeks or even months.
Iran has denied agreeing to participate in a second round of peace talks, contradicting claims made by the United States. The denial comes as tensions remain high in West Asia, with a ceasefire window nearing its end.
Crude oil prices have surged to record highs due to escalating tensions between the US and Iran, raising concerns about supply disruptions and market volatility.
Pakistan, Saudi Arabia and Turkiye on Friday signed a key joint defence agreement under which an attack against one of them will be treated as an attack against all of them, amid increasing security concerns in the wake of escalating tensions in West Asia.
Nepal is actively involved in rescuing its citizens from Gulf countries due to escalating tensions in West Asia, with thousands registering to return home. The government is committed to ensuring the safety of Nepalese citizens in the region and has formed an Emergency Response Team to manage the crisis.
Non-resident Indians (NRIs) in the Gulf region are increasingly purchasing term life insurance policies from India, driven by geopolitical uncertainties in West Asia and the significant cost advantages offered by Indian products, with the GCC region now contributing over half of the total NRI demand.
The United States military has intercepted and destroyed two Iranian attack drones that posed an immediate hazard to commercial shipping lanes in the Strait of Hormuz, according to an official statement by the US Central Command late Saturday.
Uncertainty stemming from the US-Iran conflict has significantly impacted India's mutual fund industry, leading to a sharp decline in new fund offers (NFOs) in March, despite numerous regulatory approvals. This geopolitical tension, coupled with existing market strain and distributor hesitation, has dampened investor sentiment and affected overall inflows.
FPIs have already withdrawn Rs 2.6 trillion from Indian equities in 2026, exceeding the outflows recorded in any previous full calendar year.
US President Donald Trump will visit China from May 13 to 15 at the invitation of President Xi Jinping. The visit occurs amidst global tensions, including the war in West Asia and trade disputes between the US and China. Discussions are expected to cover China-US relations, world peace, and economic issues.
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.
Moody's Analytics predicts India will remain the fastest-growing major economy in 2026 and 2027, but its pace will moderate due to a global slowdown, geopolitical risks, and financial market volatility, despite the boost from AI demand.
Indian wedding bookings to Sri Lanka are projected to grow 20-25 per cent annually over the next few years.
'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.'
Indian stock markets are poised for volatility this week, driven primarily by the outcomes of five state assembly elections, ongoing high crude oil prices amid West Asia tensions, and the release of Q4 corporate earnings, according to market analysts.
Crude oil prices experienced a significant drop following the announcement of a US-Iran ceasefire and the reopening of the Strait of Hormuz, leading to heavy selling by traders.
India's aviation sector is facing fresh turbulence, with rising fuel costs, the Ministry of Civil Aviation's free-seat directive, and geopolitical disruptions in West Asia clouding near-term earnings visibility.
'I don't see fear becoming a dominant factor for retail investors.'
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.
Explore the resilient daily life in Tehran, where residents navigate geopolitical tensions and economic challenges with routine activities, showcasing a striking contrast between normalcy and underlying uncertainty.
'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.'
Gold prices in the national capital surged by Rs 600 to Rs 1.65 lakh per 10 grams, extending gains for the third consecutive day, while silver rebounded by Rs 5,000 to Rs 2.71 lakh per kilogram, driven by geopolitical tensions and inflation concerns.
Seven Indian-flagged vessels, carrying 148 seafarers, are currently in the Persian Gulf region amidst escalating military tensions between the US and Iran. An Indian crew member was killed in a recent attack on a merchant ship, raising concerns about maritime safety and the fragile US-Iran peace deal.
Pakistan's Interior Minister Mohsin Naqvi visited Tehran for the third time recently to mediate peace amidst rising tensions between the US and Iran. Pakistan is actively leading diplomatic efforts to de-escalate the conflict in West Asia, which has impacted global energy markets and trade.
