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Market tumbles amid geopolitical unrest; Europenan mrkt decline
Banking and Oil & gas shares declined while IT, media and FMCG shares advanced.
DXY lingers under 98 mark amid increasing prospects of truce between US and Iran
The dollar index continues to linger under 98 mark for the second consecutive day as safe haven demand wanes amid improving prospects of a near term peace deal between US and Iran. Optimism surrounding a potential US-Iran agreement triggered a sharp drop in oil prices, easing inflation concerns, and reducing expectations for a prolonged hawkish Fed. Media reports indicate that the US submitted a one-page memorandum of understanding to Iran that would gradually reopen the Strait of Hormuz and ease the American blockade on Iranian ports. The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining steady after posting nearly 0.5% losses in the previous day and trading around 97.98 during the Asian hours on Thursday.
Zee Entertainment sues Reliance-Disney over alleged music copyright breach
Zee Entertainment has sued the Reliance-Disney joint venture. Zee alleges the company used its copyrighted music without permission after license agreements ended. Zee is seeking $3 million in damages. The lawsuit highlights growing disputes over content rights in India's media market.
Media Matrix Worldwide Ltd leads gainers in 'B' group
Gandhar Oil Refinery (India) Ltd, HB Estate Developers Ltd, Raymond Realty Ltd and Handson Global Management (HGM) Ltd are among the other gainers in the BSE's 'B' group today, 06 May 2026.
Petrol, diesel price hike? Government denies viral claim, terms it as fake
Government has denied reports of increased petrol and diesel prices. A viral social media post claiming price hikes is fake. The Ministry of Petroleum and Natural Gas has issued no such order. Citizens are urged to rely on official government sources for accurate fuel pricing information. Avoid sharing unverified content to prevent confusion and panic.
Crude oil prices persist near four-year highs ahead of Trump Iran deadline
Markets are also on the edge ahead of US President Donald Trump's deadline to reopen the Strait of Hormuz or face the consequences that he has warned of in multiple social media posts.
Rs 5 lakh crore gains! Sensex soars 787 pts, Nifty reclaims 22,950; Iran-US ceasefire framework, 3 other factors behind the rally
Indian stock markets staged a remarkable recovery, erasing morning losses to turn positive by afternoon. This surge was primarily fueled by media reports of a Pakistan-brokered Iran-US ceasefire framework, significantly boosting investor confidence. Key sectors like Consumer Durables led the gains, while Reliance Industries bucked the trend.
Sensex jumps 939 pts, Nifty tops 23,400 on value buying in large caps
Domestic equity benchmarks ended sharply higher on Monday, supported by value buying in select large-cap stocks as investors assessed the potential fallout of the ongoing U.S.-Iran conflict. Sentiment improved after media reports indicated that Donald Trump is likely to announce in the coming days the formation of an international coalition to escort commercial shipping vessels through the Strait of Hormuz, as the conflict with Iran enters its third week. U.S. officials reportedly said the White House could unveil the initiative as early as this week. However, overall sentiment remained cautious amid persistent FII outflows and elevated crude oil prices due to ongoing tensions involving Iran, Israel and the United States. The Nifty closed above the 23,400 mark, led by gains in auto, financial services and private banking stocks.
Motilal Oswal top picks: VA Tech order strength, RIL refining upside, Eternal valuations attractive
Investors are not showing panic despite geopolitical tensions, though many are reviewing portfolios and seeking safer sector exposure, according to Siddhartha Khemka of Motilal Oswal. The brokerage remains positive on VA Tech Wabag citing a ₹16,000-crore order book and strong West Asia demand. It also sees opportunity in quick commerce stocks like Eternal and Swiggy after valuation corrections, while Reliance Industries’ O2C business could benefit from higher refining margins. Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Sensex tumbles 829 pts; Nifty sinks below 23,650 mark; VIX advance 2.16%
Nifty ended below the 23,650 mark. Auto, FMCG and realty shares declined, while oil & gas, metal and media shares advanced.
US Didn’t Escort Tanker Through Hormuz, Refuting Wright Post
The US said no oil tanker has been escorted by its navy through the Strait of Hormuz, refuting an earlier, since-deleted social media post by Energy Secretary Chris Wright.
'To take a little pressure off': Trump on US granting 'permission' to India to accept Russian oil
US President Donald Trump on Saturday (US local time) spoke to the media about several developments in the wake of the unfolding security situation in West Asia and the Gulf and responded to the announcement by US Treasury Secretary Scott Bessent on temporarily allowing India to purchase Russian oil.