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INR tumbles further as renewal of war is seen driving oil prices and inflation higher
The Indian rupee slumped further in opening trades on Thursday as international crude oil prices rebounded as US President reportedly threatened to bomb Iran for a second day and reimpose the US naval blockade in retaliation for attacks on tankers transiting the Strait of Hormuz. US President Donald Trump said the ceasefire with Iran has ended, stoking concerns that a renewal of war could again drive inflation and push up interest rates. This could reinforce expectations that the US Federal Reserve (Fed) may keep interest rates higher for longer to combat stubborn inflation. INR opened at Rs 95.52 per dollar and hit a low of 95.58 so far during the day. Yesterday, rupee tanked 59 paise to settle at 95.55 against the US dollar. The Indian stock market also suffered a massive crash, with the NSE Nifty 50 plunging 516.65 points (2.12%) to close at 23,882.05, while the BSE Sensex tanked 1,677.12 points (2.15%) to settle at 76,503.60. Local markets are however recovering from the sharp ...
Sensex jumps over 600 points, Nifty reclaims 24,000. 5 key factors behind today's sharp D-Street rebound
Indian stock markets traded higher on Thursday, recovering from Wednesday's significant decline. Sensex and Nifty saw marginal gains as investor confidence returned to the trading floor. Oil prices continued their upward trend, influenced by escalating Middle East geopolitical concerns. Foreign institutional investors remained net buyers of Indian equities for the sixth consecutive session.
Analyst picks 2 stocks to buy, 1 to sell as Nifty enters correction zone
Jatin Gedia of Teji Mandi reckons that the Nifty, Bank Nifty have slipped back into the correction zone; he recommends buy on Oil India and Exide Industries.
From Gift Nifty, US-Iran war, oil prices to bond yields: 10 key things that changed for Indian stock market overnight - livemint.com
From Gift Nifty, US-Iran war, oil prices to bond yields: 10 key things that changed for Indian stock market overnightlivemint.com
D-St set for a positive opening as GIFT Nifty signals firm start
Indian markets experienced widespread selling on Wednesday, with the Nifty declining significantly. Global risk sentiment deteriorated following US President Donald Trump's comments on Iran. Asian markets also traded lower, reflecting the weak global backdrop. The Indian Rupee tanked against the US dollar as oil prices rose. Foreign and domestic investors showed net buying activity in equities.
Sensex, Nifty post steepest fall in over three months as oil prices surge
Indian equities posted their biggest decline in over three months as escalating US-Iran tensions lifted crude oil prices, triggering concerns over inflation and economic stability
INR tumbles sharply against US dollar as oil prices soar on renewed US-Iran tensions; Sensex, NIFTY plunge over 2%
The Indian rupee tanked 59 paise to settle at 95.55 (provisional) against the US dollar on Wednesday as the US launched fresh strikes on Iran after Tehran struck three ships in the Strait of Hormuz, pushing up crude oil prices and strengthening the dollar. The US military attacked Iran early Wednesday after it said Tehran struck three ships in the Strait of Hormuz, part of an American effort that also revoked the Islamic Republic's ability to openly sell crude oil in the world market. Iran retaliated with strikes targeting Bahrain and Kuwait. Following the strikes, global crude oil prices rose exponentially. Brent crude, the global oil benchmark, was trading higher by 6.16 per cent at USD 78.73 per barrel in futures trade. The Indian stock market also suffered a massive crash, with the NSE Nifty 50 plunging 516.65 points (2.12%) to close at 23,882.05, while the BSE Sensex tanked 1,677.12 points (2.15%) to settle at 76,503.60.
Sensex, Nifty tumble over 2% as oil spike and Middle East tensions spook investors
The S&P BSE Sensex tanked 1,677.12 points or 2.15% to 76,503.60. The Nifty 50 index lost 516.65 points or 2.12% to 23,882.05.
Indian-flagged crude tanker turns back from Strait of Hormuz after vessel attacks: Report
Several oil and gas tankers have turned back from the Strait of Hormuz. This action follows renewed attacks on vessels in the critical waterway. A Qatari LNG tanker and a Saudi crude oil tanker were damaged near the strait. Maritime authorities have raised the threat risk for transiting vessels to severe. Indian refiner Mangalore Refinery cancelled a crude oil charter from Iraq.
India seeks safe Hormuz passage for nine ships as truce falters
In a strategic move, India is engaging Iran in talks to guarantee the safety of nine tankers loaded with crude oil and liquefied petroleum gas. With vigilant oversight from the government on these vessels, officials will confer with Iranian counterparts to discuss the precarious state of maritime security due to regional tensions that threaten both shipments and a delicate ceasefire.
OMCs, gas utilities remain top picks despite fresh oil price volatility: ICICI Securities
Probal Sen, Senior Research Analyst-Indian Oil & Gas Sector, Indian Agrichem Sector, Institutional Equities at ICICI Securities discusses India's energy outlook, LPG supply risks, ONGC and Oil India, while Trading.com's Peter McGuire shares his view on crude prices amid escalating West Asia tensions.
ONGC Emerges Top Performer In Nifty 50 Pack, Defies Stock Market Crash
Shares of the state-run oil & gas explorer traded higher despite the stock market crash amid renewed US-Iran tensions that led to a spike in global crude oil rates by upto 5%.