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Sensex tumbles 350 points, Nifty below 23,150 as Iran shuts Strait of Hormuz after US strikes. What lies ahead?
Indian stock markets experienced a downturn on Thursday, with Sensex and Nifty both declining by 0.6%. Renewed Middle East tensions and the closure of the Strait of Hormuz led to a spike in oil prices, unsettling investors. Major indices and broader markets saw losses, with IT and Auto sectors leading the decline.
From Gift Nifty, US-Iran war, crude oil prices to gold rates: 10 things that changed for Indian stock market overnight - Mint
From Gift Nifty, US-Iran war, crude oil prices to gold rates: 10 things that changed for Indian stock market overnightMint
Brazil ready to ramp up crude supplies to India as Iran war disrupts gulf flows
Brazil is ready to increase oil supplies to India. This comes as India seeks to diversify its crude sources due to shipping issues. Brazil's oil exports to India have already doubled. India is also considering investments in Brazil's offshore oil blocks. Brazil wants Indian investment in its refining sector in return for more crude.
INR pares initial losses and settles largely unchanged
The Indian rupee was largely flat and settled almost unchanged at Rs 95.43 per dollar, down just 2 paise on Wednesday, amid likely intervention from the Reserve Bank of India (RBI) to curb excessive volatility and prevent a further slide in the domestic unit. Rupee pared its initial losses as crude oil prices and the US dollar index retreated from their elevated levels. Indian shares gave up early gains to end little changed on Wednesday as investors weighed rising U.S.-Iran tensions and awaited key U.S. inflation data later in the day for fresh insights into market expectations for future interest rates in the face of rising energy-driven inflation risks. The BSE Sensex ended the day at 73,983.18, up by 64.42 points (0.09%), while the NSE Nifty 50 settled at 23,214.95, slipping by 27.15 points (-0.12%).
Top Gainers & Losers on June 10: Oil India, NLC India, Manappuram, Indian Bank, Redington, among top losers - Mint
Top Gainers & Losers on June 10: Oil India, NLC India, Manappuram, Indian Bank, Redington, among top losersMint
Banks pay 7% on dollar deposits as India seeks fresh foreign currency
Indian banks are significantly increasing rates on foreign-currency deposits to attract overseas residents, testing the central bank's new measures to boost capital inflows and support the rupee. This strategy aims to strengthen the currency amidst high oil prices and intense domestic deposit competition.
Ruchit Jain of Motilal Oswal suggests Grasim, Bank of Maharashtra shares to buy for the short term
Indian equity benchmarks rose on Wednesday, driven by gains in FMCG, oil & gas, financial, and IT stocks, despite geopolitical tensions. The Nifty 50 increased by 0.5% and the BSE Sensex by 0.7%, indicating a strong market sentiment amidst consolidation and support at key levels.
Why is market rising? Sensex jumps 1,000 points in 2 days, Nifty crosses 23,400. 3 key factors behind the surge
Indian stock markets surged for a second consecutive session, with Sensex and Nifty crossing significant milestones. This resilience occurred despite escalating Iran-US tensions, as cooling oil prices and a fizzling AI rally in global markets provided support. Key sectors like FMCG and Private Banks led the gains.
Nifty 500 Q4 Review: HDFC Bank, Indian Oil, Tata Motors Among Top Winners, Losers; Key Sector Trend — Read Motilal Oswal's Report
Of the 23 key sectors, 14 posted double-digit profit growth in Q4 FY26.
INR loses ground as oil spikes amid fresh escalations in the West Asia war
The Indian rupee depreciated 15 paise to 95.56 against the US dollar in early trade on Wednesday as fresh escalations in the West Asia war lead to a spike in crude oil prices and pressurised the rupee. USD/INR pair opened on a negative note after US President Donald Trump said Iran was responsible for downing an American military helicopter near the Strait of Hormuz and that the US "must" respond to the attack. At the interbank foreign exchange market the rupee opened at 95.52, then lost ground and touched 95.56 in initial trade, registering a fall of 15 paise from its previous close. Yesterday, rupee recovered momentum to settle higher by around 28 paise at Rs 95.31 per dollar, supported by retreating international oil prices and small pullback in dollar overseas. Meanwhile, local equities also rebounded from two-month lows as a halt in hostilities between Israel and Iran boosted hopes that peace negotiations could move forward. Meanwhile, domestic indices opened on a positive note,
Sensex jumps over 300 pts, Nifty above 23,300; Reliance Industries, HUL shares gain 1%
Indian stock markets saw gains on Wednesday. The Sensex and Nifty traded higher, led by major companies. Broader markets also showed marginal increases. Sectoral performance was mixed. Geopolitical tensions in the Middle East and rising oil prices are being monitored. The rupee opened lower against the US dollar. Analysts expect market stabilization amid ongoing developments.
GIFT Nifty rises 100 points, hints at positive start; key trading cues for today
Indian markets closed higher on Tuesday, boosted by banking and financial stocks. The Reserve Bank of India's new forex swap facility eased overseas borrowing concerns. Market sentiment improved with hopes of a Middle East truce and falling crude oil prices. Investors remain watchful due to ongoing geopolitical tensions and inflation worries.