Market News
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Iran war energy shock drives India's interest in ethanol and other biofuels
India and Southeast Asian nations are boosting biofuel use amid global fuel disruptions. This move aims to reduce reliance on imported oil and manage rising costs. However, challenges remain in developing supply chains and ensuring vehicle compatibility. Experts also highlight environmental concerns related to crop-based biofuel production. The shift towards biofuels is a significant development for energy security.
INR settles around record low level as energy crisis deepen
The Indian rupee weakened further and fell to a record low of 95.73 (provisional) against the US dollar on Thursday, amid a strong dollar and worries over inflation amid elevated energy prices. International oil prices continued to hold around $100 per barrel mark that kept rupee under pressure. The rupee is expected to trade with a negative bias amid inflation concerns and the strength of the US dollar in the overseas market. The West Asia crisis and the blockade of the Strait of Hormuz have disrupted crude petroleum imports into India. Investors also awaited the outcome of U.S. President Donald Trump's summit with Chinese President Xi Jinping in Beijing. However, positive local equities limited losses in the domestic unit to some extent. Indian equity markets settled sharply higher for the second consecutive session, with the Sensex rising 789.74 points (1.06%) to 75,398.72 and the Nifty gaining 277 points (1.18%) to 23,689.60.
India rupee slips to record low near 96 per USD as energy risks deepen
The Indian rupee hit an all-time low, driven by high oil prices and portfolio outflows straining the economy. Policymakers are considering tax reductions for foreign investors on bonds to attract dollar inflows. Persistent balance of payments deficits and rising wholesale inflation signal ongoing rupee weakness.
PM Modi likely to seek more energy supplies from UAE during short visit, sources say
Indian Prime Minister Narendra Modi will visit the UAE to discuss long-term energy supply deals and expand strategic oil reserves. The visit, part of a five-nation tour, aims to secure supplies disrupted by global conflicts. Modi will meet UAE President Sheikh Mohamed bin Zayed Al Nahyan to explore energy cooperation and other bilateral issues.
India asks US for Russian waiver extension as Iran war drags on
India has requested the United States to extend its waiver on Russian oil imports. This comes as the ongoing conflict in the Persian Gulf impacts global energy supplies. India emphasises that securing energy supplies remains a top priority for its citizens. Indian refiners are increasing Russian oil imports before the current waiver expires.
Benchmarks snap 4-day losing streak; Nifty settles above 23,400
Domestic equity benchmarks Sensex and Nifty snapped a four-session losing streak to close higher on Wednesday, aided by value buying in beaten-down stocks. Market recovered from early volatility and profit booking to rebound sharply from intraday lows, with the Nifty settling above the 23,400 mark. Gains were led by metal, consumer durable and energy shares, while IT and auto stocks remained under pressure. However, overall sentiment stayed cautious amid elevated crude oil prices, persistent foreign institutional investor outflows, rupee weakness and lingering global inflation concerns. The Indian rupee also touched a fresh intraday record low of 95.80 against the US dollar.
Global oil supply to plunge below demand this year on Iran war, IEA says
Global oil supply is set to fall short of demand this year, with the Iran war severely impacting Middle East production. The International Energy Agency reports significant supply losses and a projected deficit of 1.78 million barrels per day by 2026. Demand is also expected to decline due to price spikes and economic slowdown caused by the conflict.
Can Reliance Jio's fresh-issue play restore faith in India's billion-dollar IPOs?
Reliance Jio may change its IPO plan. Instead of existing investors selling shares, it could be a fresh issue. This means money goes directly into Jio Platforms for debt reduction and expansion. This move could restore investor faith in large Indian IPOs. It might set a new standard for future mega listings. The market will watch this development closely.
Q1 fuel losses may eliminate entire fiscal-year earnings of Indian OMCs
Since the war broke out in the Middle East 10 weeks ago, state-owned oil marketing companies (OMCs) have ensured uninterrupted supplies of petrol, diesel and cooking gas LPG at rates that are way below cost, unlike many global energy systems that imposed rationing or passed through steep price increases.
Sunil Bharti Mittal says now is the time to ‘double down’ on investing in India: 'Cut obsession with gold imports'
Amid soaring global crude oil prices and an energy crisis fuelled by the ongoing US-Iran conflict, Sunil Bharti Mittal, also advocated the use of renewable energy.
Evening peak power demand exposes gaps in India’s energy transition: Citi
India's power sector is shifting focus from electricity shortages to ensuring reliable power during non-solar hours. Rapid renewable energy growth creates challenges for evening and night-time demand. The country needs enhanced transmission and storage infrastructure. Battery storage and flexible thermal generation will be crucial. Delays in capacity additions could lead to power shortages. Coal power will remain important.
Rs 1,600-1,700 cr a day, Rs 1 lakh cr in 10 weeks: Cost of insulating India from global energy shock
State-owned oil firms are incurring massive daily losses, estimated at Rs 1,600-1,700 crore, to shield Indian consumers from global energy price shocks. This has led to over Rs 1 lakh crore in under-recoveries in 10 weeks, raising concerns about their financial sustainability and the need for potential price hikes.