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Petrol and diesel prices remained largely unchanged across major Indian cities on 13 May, even as concerns over energy security continue to grow amid the escalating conflict in West Asia.
Gold prices remained stable in early Asian trade. Investors are awaiting a key U.S.-China summit in Beijing. Developments in the Middle East conflict are also being closely watched. U.S. President Donald Trump commented on the Iran war. Oil prices saw a dip. U.S. consumer inflation increased. India has raised import tariffs on gold and silver.
Indian markets extended losses for the fourth consecutive session amid escalating US-Iran tensions and global market nervousness. Investors remained risk-averse, leading to sustained selling. Market sentiment is expected to stay fragile until geopolitical clarity emerges and energy prices stabilize.
Markets faced selling pressure on Tuesday due to weak global cues and macroeconomic concerns, with the Nifty approaching support at 23,150. Several companies like Airtel, Tata Motors, and Dr Reddy's are in focus due to earnings reports and other news developments.
Oil prices dipped as investors awaited developments on the Iran ceasefire and President Trump's summit with China's Xi Jinping. Brent crude futures fell to $106.95 a barrel, and WTI futures to $101.52. The ongoing conflict and supply disruptions are expected to keep oil prices above $80 for the year.
Asian stocks declined as US inflation accelerated, influenced by rising oil prices following the conflict in Iran. This prompted an increase in Treasury yields and boosted bets on a Federal Reserve rate hike in 2027. Elevated oil prices and inflation risks now threaten the recent equity rebound, particularly impacting chipmakers.
Indian cement companies are revising growth expectations downwards. Higher fuel, packaging, and logistics costs are impacting profitability. Companies anticipate a slower demand increase this fiscal year. Price hikes may not fully offset the rising expenses. Some firms are also delaying capacity expansion plans. The West Asia crisis and monsoon forecasts are key concerns.
The Indian rupee hit a record low for the second consecutive day, while key equity indices experienced their biggest single-day fall in six weeks. This decline was triggered by uncertainty surrounding US-Iran peace talks, which pushed oil prices higher, and Prime Minister Modi's austerity call, eroding market confidence and prompting dollar buying.
SEBI has fined Kishore Biyani, Rakesh Biyani, and former CFO C P Toshniwal a total of ₹50 lakh for violating disclosure norms and related party transaction rules in the Future Retail case. The regulator found inadequate disclosure of relationships and transactions, with some lacking mandatory approvals. The investigation also probed alleged manipulation of accounts and fund siphoning by promoters.
The new Emergency Credit Line Guarantee Scheme 5.0 is set to boost mid-sized banks. These banks have a larger share of loans to micro, small, and medium enterprises. The scheme aims to facilitate significant credit flow. Government guarantees will encourage lending to MSMEs. This initiative is expected to strengthen credit to this vital sector.
AI firm Anthropic has identified eight firms selling its shares without authorization. The company is warning investors that these share purchases will not be valid. Anthropic is a highly valued private company. Secondary markets allow early investors and employees to sell shares in private firms. These platforms are growing as companies stay private longer.
The Supreme Court clarified it did not order a status quo on 108 hectares of grazing land allotted to Adani Ports in Gujarat, rejecting villagers' claims. The apex court stated the written order did not mention status quo and imposed a symbolic cost of ₹2,000 each on the villagers for their clarification applications.
Corporate bond funds are gaining traction for fixed-income investors seeking steady returns amid rising inflation risks and a potential pause in interest rate cuts. With yields at elevated levels, shorter-duration accrual strategies are favored over those betting on rate movements, offering attractive spreads over government securities and bank fixed deposits.
The Securities and Exchange Board of India (Sebi) has proposed a pilot program to allow select agricultural commodity derivatives to trade as cash-settled instruments before mandatory physical settlement. This initiative aims to boost liquidity and market confidence in agricultural contracts, with commodities like maize, groundnut, and chilli being considered for the pilot.
Indian IT stocks experienced a significant downturn on Tuesday, with the Nifty IT index plummeting 3.7% to a three-year low. This decline was triggered by OpenAI's substantial investment in AI adoption, raising concerns about its impact on traditional software services business models.
The Centre is working on a decentralized onion procurement and storage plan to help states build local buffer stocks, reduce wastage and curb sharp price spikes. The move aims to stabilize supplies, cool food inflation and improve farmer incomes.
India's global market capitalization share has fallen below 3% due to a sustained bearish trend and significant foreign portfolio investor (FPI) outflows. Despite this, India retains its fifth position globally with a market cap of $4.9 trillion, though Taiwan and South Korea are rapidly gaining ground.
US President Donald Trump on Tuesday said that he is not concerned regarding the economic impact of the US-Iran war on Americans, adding that the only thing that matters is that Tehran cannot have a nuclear weapon.
Patel also sought to counterattack politically by referencing Van Hollen’s previous trip to El Salvador involving Kilmar Abrego Garcia, who had been detained there after an arrest in Maryland.
