Among the Sensex firms, JSW Steel, Tata Motors, Tata Steel, Tata Consultancy Services, NTPC, Wipro, HCL Technologies, State Bank of India, Larsen & Toubro, UltraTech Cement, IndusInd Bank, Kotak Mahindra Bank, Power Grid and Reliance Industries Limited were the major laggards. Mahindra & Mahindra and Bajaj Finance were the gainers.
'He's a hypocrite because he's the one who said that India, when he was not the coach of Team India, said that India and Pakistan should never play a match between them.'
A major escalation unfolded in West Asia on Monday after Iran reportedly launched multiple missiles targeting United States military installations in Qatar and Iraq, including Al Udeid Air Base in Qatar -- the largest US military installation in the region, according to a CNN report.
Crude oil prices could dip to the low $60s by the end of 2025 after rising to $80 a barrel in the last quarter (October-December) of 2024 - up nearly 10 per cent from current levels, suggest analysts at JP Morgan. The main players in West Asia, including Saudi Arabia and the UAE, have a strong incentive to keep the conflict contained, according to the JP Morgan report.
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
China Thursday offered to play a 'constructive role' to ease tension between Pakistan and Iran following their missile strikes against each other over the last two days and asked the two countries to 'exercise restraint and calmness and avoid escalation'.
State news agency IRNA said that Iran has successfully shot down 'adversial targets' in the airspace around Tehran province. Iranian state television noted hearing six loud sounds resembling explosions in parts of the capital, with the source of the noises currently unverified.
'The background for the Saudi-Pakistan agreement is the fact that the regional security order has collapsed due to the Israeli attack on Doha.' 'The Americans have largely abandoned their security guarantee for West Asia and the region has no choice but to look at alternatives.'
Goldman Sachs expects gold to reach $3,150 per ounce in the international market by December 2025, up around 19.1 per cent from its current level of $2,645, according to a recent report in Business Standard. Domestically, gold is trading at Rs 76,018 per 10 grams after delivering a remarkable 21.9 per cent return in the past year.
Russia announces its withdrawal from a self-imposed moratorium on deploying intermediate-range missiles, citing escalating tensions with the US and the repositioning of American nuclear submarines.
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.
Leaders of Pakistan, Turkey and Azerbaijan agreed to strengthen their ties for the mutual benefit of their peoples, as well as for regional peace and prosperity. The understanding was reached at the Pakistan-Turkey-Azerbaijan trilateral summit in Lachin, Azerbaijan, attended by Prime Minister Shehbaz Sharif alongside presidents Recep Tayyip Erdogan and Ilham Aliyev. Azerbaijan announced a USD 2 billion investment in Pakistan's economy. Turkey expressed support for the ceasefire between Pakistan and India and hopes that it evolves into permanent peace.
In a dramatic escalation of tensions, Israel launched airstrikes early Friday targeting key nuclear facilities in and around Iran's capital Tehran.
As India and China continue to face off across the Himalayas six decades later, the echoes of that earlier conflict remain unmistakable. The core of China's sensitivity lies not in maps or mountain passes, but in its perception of sovereignty over Tibet, points out Dr Kumar.
Analysts expect Nifty to rise up by to 6 per cent in six months, with intermittent corrections likely due to global factors.
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.
By ensuring Myanmar remains dependent on Chinese economic and military assistance, Beijing indirectly exerts pressure on India's North Eastern states, making New Delhi's regional security strategy even more complex.
The Kananaskis gathering on June 16-17 is the Prime Minister's 6th consecutive participation in the G7 Summit.
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.
A lower risk appetite among investors has driven gold, traditionally a safe-haven asset, to record highs so far this year. Fuelled by geopolitical tensions in West Asia, robust demand from central banks - particularly in Asia - and US President Donald Trump's tariff volleys, spot gold touched an all-time high of $2,956 per ounce on February 24 in the international markets.
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.
Israeli Prime Minister Benjamin Netanyahu termed it the 'largest cooperation project in our history', one that would 'change the face of the Middle East, Israel, and impact the entire world'.
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.
Benchmark stock indices Sensex and Nifty fell for the third day running on Friday due to weak trends in global markets and soaring crude oil prices. Foreign fund outflows also weighed on investor sentiments amid strengthening US bond yields which are nearing 5 per cent for the first time since 2007. The 30-share BSE Sensex fell 231.62 points or 0.35 per cent to settle at 65,397.62.
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.
State-owned Indian Strategic Petroleum Reserves Ltd (ISPRL), which operates India's strategic crude oil storage, will make awards by December to lease around 1 million tons of crude oil storage space (7.3 million barrels) at two of the country's three existing Strategic Petroleum Reserves (SPRs), around a fifth of the total SPR capacity. This will enable the refilling of crude caverns even as escalating hostilities in the Gulf threaten disruptions in crude supplies, two industry sources said.
The upcoming Durand Cup may have only six Indian Super League (ISL) teams in the fray, down from 12 last season.
HAL, BEL and MDL feature on Sipri's list of the 100 largest arms producers in the world.
'Our fractured world has been embroiled in wars and hatred, and many sessions reflect these concerns.'
The Reserve Bank of India's (RBI's) interest rate decision, West Asia conflict and trading activity of foreign investors are the key factors that will dictate investors' sentiment in the market this week, analysts said. Moreover, quarterly earnings from IT bellwether TCS, domestic macroeconomic data and movement in global oil benchmark Brent crude would also guide trends in the market. Worsening tensions in the Middle East and foreign fund outflows were the major culprits behind the equity markets sharp fall last week.
Brent crude on the other hand rose to $105/bbl on West Asia tensions.
'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.'
On a five-day rolling basis, FPI selling is the highest in 24 years.
Global financial markets are not yet fully factoring in any escalation in the Israel-Palestine geopolitical conflict, said Christopher Wood, global head of equity strategy at Jefferies in his latest weekly note to investors, GREED & fear. The pertinent point about ongoing events in West Asia from a financial market perspective, according to him, is that, despite much talk about a pending ground invasion of Gaza, no such invasion has yet happened. "This is beginning to make GREED & fear wonder if it is ever going to happen.
West Asia tension will keep crude prices high
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.
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.
Stock Market News today, PSU banks: The year 2024 was a roller-coaster ride for Indian stock markets, marked by volatility driven by the Lok Sabha elections, Union Budget 2024, a slowdown in corporate earnings, and sticky inflation. Geopolitical tensions - particularly between Israel and Iran in West Asia - along with various stimulus announcements by China and yen carry trade rocked the equity markets throughout the year.
New investors should gradually build a 5 to 10 per cent allocation to gold.
The stage may be set for a recalibrated US-Iran relationship, suggests Ambassador M K Bhadrakumar.
