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INR rebounds on the back of a steep fall in global crude oil prices
The Indian rupee is witnessing a pullback from sharp decline registered this week in opening trades on Thursday as oil prices are receding to near pre war levels and by taking some positive cues from local equities. INR opened at Rs 94.30 and hit a high of 94.25 far during the day. Yesterday, rupee appreciated by 11 paise to settle at 94.65 against the US dollar on Wednesday on the back of a steep fall in global crude oil prices. Positive sentiments in the domestic equity markets and FII inflows further supported the local unit. Indian shares rose sharply on Wednesday amid easing geopolitical tensions and growing optimism around a potential U.S.-India bilateral trade agreement. Global oil prices fell to their lowest level in four months amid indications that more tankers stranded in the Gulf since the start of the Iran war were beginning to move through the Strait of Hormuz. However, dollar strength overseas on expectation of a near term rate hike is likely to cap any sharp gains in .
INR rebounds on the back of a steep fall in global crude oil prices
The Indian rupee appreciated by 11 paise to settle at 94.65 (provisional) against the US dollar on Wednesday on the back of a steep fall in global crude oil prices. Positive sentiments in the domestic equity markets and FII inflows further supported the local unit. Indian shares rose sharply on Wednesday amid easing geopolitical tensions and growing optimism around a potential U.S.-India bilateral trade agreement. Global oil prices fell to their lowest level in four months amid indications that more tankers stranded in the Gulf since the start of the Iran war were beginning to move through the Strait of Hormuz.
Oil Prices May Rise To $80-90 A Barrel In Second Half Of 2026: S&P Global Energy
The effective closure of the Strait of Hormuz was the largest oil supply disruption in history.
Oil, AI and chips: The new resource race redrawing markets and nations
The leap to a $5 trillion valuation for Nvidia underscores a dramatic paradigm shift: semiconductors have become the driving force of global economic prowess, akin to oil in previous centuries. With nations such as Taiwan and South Korea emerging through powerhouses like TSMC and Samsung, the future prosperity relies heavily on mastering the semiconductor supply chain as AI technology evolves, reshaping national strength and financial stability.
Banks boost renewable energy credit by 7% in April amid energy security concerns
Banks are boosting credit to renewable energy projects, with a 7% jump in April, as global conflicts highlight India's reliance on oil. This surge in funding for green energy underscores the nation's commitment to energy transition. Experts note a growing demand for climate finance, urging banks to develop specialized underwriting for sunrise sectors like solar and green hydrogen, which are poised for significant growth.
Vedanta Power, Oil & Gas shares fall 3%; Vedanta Aluminium, Iron & Steel jump up to 5%. What lies ahead?
Vedanta's demerger saw mixed fortunes for its listed entities. While Vedanta Power and Oil & Gas shares dipped, Vedanta Aluminium and Iron & Steel surged, with the latter showing significant gains post-listing. Analysts are bullish on Vedanta Aluminium, citing strong global demand and operational strengths, with multiple brokerages initiating 'Buy' ratings and projecting substantial upside.
INR stays hammered as dollar stands tall on hawkish Fed
The Indian rupee continues to stay pressured against the dollar in opening trades on Wednesday, tracking firm dollar overseas. Mildly positive start to local equities and easing oil prices are unable to support rupee that is hammered by gains in DXY on the back of a hawkish dollar overseas. INR opened at Rs 94.88 per dollar and hit a low of 94.93 so far during the day. Yesterday, the counter settled at 94.76. The dollar index scales above 101 mark for the first time in more than a year amid growing indications of a Federal rate hike in the near future. The Federal Reserve's hawkish tone at its latest meeting is seen bolstering gains the U.S. dollar. The upcoming PCE inflation report, the Feds preferred gauge, will be closely watched this week for further clarity.
Sensex jumps over 250 pts, Nifty above 23,900; Trent shares surge 4%
Indian stock markets showed resilience on Wednesday, with Sensex and Nifty recovering from previous losses. Trent shares surged, leading the gains. While broader markets dipped, IT and Pharma sectors saw modest gains. Analysts noted global tech stock volatility but highlighted India's steady growth and easing crude oil prices. However, concerns over a deficient monsoon are emerging, potentially impacting rural demand and corporate profits, prompting portfolio adjustments.
Crude oil prices extend fall on smoother flows through Strait of Hormuz; Brent below $77 per barrel
US-Iran peace talks: Global benchmark Brent crude futures for August delivery declined 0.45% to $76.73 per barrel on Wednesday after falling 1.1% in the previous session.
Petrol, Diesel Prices On June 24: Check New Fuel Rates In Mumbai, Hyderabad, Chennai, Kolkata, And More
Fuel prices in India depend on several factors, with global crude oil prices being the most significant as crude is the primary raw material used to produce petrol and diesel.
D-Street set for a positive opening as GIFT Nifty trades higher
Indian markets experienced profit booking after a significant rally, influenced by fluctuating crude oil prices and foreign investor sentiment. Analysts anticipate a sideways trading range with a slight downward bias due to global uncertainties and ongoing foreign outflows. The Nifty found support at a key trendline, suggesting potential near-term recovery, while the India VIX saw an uptick, indicating increased market apprehension.
Hormuz shipping activity shows signs of recovery; Indian refiners shine amid disruption: S&P Global
Shipping through the crucial Strait of Hormuz is showing signs of recovery, with daily transits increasing significantly, though still far below pre-war levels. Indian refiners, however, are demonstrating remarkable resilience, successfully diversifying their crude oil sources to include Russian, Brazilian, West African, and US grades amidst ongoing global energy supply disruptions. Market watchers remain vigilant as geopolitical tensions continue to influence oil trade.