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The Indian Rupee fell for the fourth consecutive day on Thursday. This decline followed the Reserve Bank of India's decision to remove restrictions on foreign exchange trading. Higher crude oil prices also contributed to the Rupee's weakening. The currency closed at 94.11 against the US Dollar. Brent crude futures surpassed the $100 per barrel mark.
Global oil price surges, triggered by the US-Iran conflict, have fueled a significant increase in retail trading of crude derivatives on Indian exchanges. Futures and options volumes saw a dramatic rise in March, with traders actively participating in short-tenure positions despite tightened trading conditions and higher margins.
HSBC has downgraded India to underweight, citing inflationary pressures from elevated oil prices and demand as key concerns. The brokerage anticipates a delay in India's economic recovery, with potential earnings cuts expected to impact valuations despite recent market sell-offs. This downgrade reflects weakening relative attractiveness for Indian equities compared to regional peers.
Indian stock markets declined nearly 1% on Thursday, mirroring losses in Asian benchmarks as Brent oil prices surpassed $100, fueling cautious sentiment. Analysts anticipate range-bound trading until strong market triggers emerge, with the Nifty closing at 24,173.05 and Sensex at 77,664.
Pharma stocks showed strength on Thursday, defying market weakness. Dr Reddy's Laboratories saw significant gains, fueled by anticipation of approval for its Semaglutide diabetes drug in Canada. Other pharma companies also experienced upward movement. This defensive sector appeal is attracting investors amid uncertain market conditions and geopolitical concerns.
The Inspector General’s office announced on Thursday that it will examine how the Justice Department collected, reviewed, and redacted documents before releasing them to the public.
U.S. stocks declined amid escalating Iran war concerns and mixed earnings. Hopes for a swift resolution dimmed as Iran tightened control over the Strait of Hormuz and reported air defense activations. Investors also reacted to AI disruption fears in the software sector, with IBM and ServiceNow shares falling, while Texas Instruments surged on positive forecasts.
Inaki Ereno, chief executive of Bupa, has said employees who prioritise work-life balance may be in the wrong role, arguing that people should enjoy their work enough to not feel the need for strict separation.
In recent times many resident individuals, banking with various financial institutions, have used cards to carry out such international capital account transactions-oblivious that they were violating foreign exchange and banking rules. Some probably did it consciously to dodge the tax collected at source (TCS) or sidestep restrictions on overseas forex remittance.
World News Today Live Updates on April 24, 2026: Stay informed on global events with our in-depth world news coverage, bringing you the latest developments across politics, economy, and culture. Discover insights into international affairs, breaking news, and the trends shaping our interconnected world, all in one place.
US markets experienced a sharp decline on Thursday. US President Donald Trump issued a directive for the Navy to engage any boats laying mines in the Strait of Hormuz. This action heightened existing tensions in the region. US forces also intercepted Iran-linked vessels in the Indian Ocean. Investors are closely watching for resolution to these conflicts.
Nasdaq is launching new products for extended U.S. stock trading. This move will allow trading for 23 hours a day, five days a week. The expansion aims to provide greater global access to popular U.S. stocks. This change is expected to begin on December 6, pending regulatory approval. The new system will handle increased trading activity across Nasdaq's exchanges.
Laozi, a figure from Daoism, emphasizes the importance of self-knowledge and self-mastery in leadership. While understanding others is valuable, true power lies in managing one's own emotions and impulses, leading to lasting influence and trust in modern workplaces.
The spokesperson's statement came in response to queries from the Indian media about the controversy triggered by US President Donald Trump reposting comments that referred to India, China and some other countries as “hellholes.”
Minister Sitharaman directed Indian banks to bolster cybersecurity frameworks and reporting protocols to counter AI-driven threats. The high-level mandate emphasizes real-time intelligence sharing and the engagement of specialist agencies to safeguard the national financial ecosystem.
Freeport-McMoRan announced a slower-than-expected recovery at its Grasberg mine in Indonesia following a fatal flood. The company now anticipates only 65% production restoration by the second half of the year, down from 85%, impacting its ability to meet surging global copper demand. This delay, attributed to equipment modifications for wetter ore, also pushed back a power source conversion plan.
