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Since the start of the US-Iran war on 28 February, domestic LPG prices have been revised once, but the cost of commercial cooking gas has been increased twice.
Oil prices continued their rally for an eighth consecutive day, driven by reports of a potential extended U.S. blockade of Iranian ports. This move, aimed at pressuring Iran's economy and oil exports, could prolong supply disruptions from the Middle East. The Strait of Hormuz's reduced accessibility has already significantly impacted energy supplies, leading to fears of a fresh inflation crisis.
US-Iran War LIVE Updates: Exactly two months after the US-Iran war started on 28 February, Iran has offered to end its chokehold on the Strait of Hormuz if the US lifts its blockade and ends the war.
A PIL has been filed in the Supreme Court to remove Ajay Pal Sharma, an IPS officer, from his role as Police Observer in West Bengal elections, citing intimidation and bias that threaten electoral fairness. The petitioner seeks the court's intervention to uphold democratic norms.
Gold prices remained largely steady as investors awaited U.S. Federal Reserve Chair Jerome Powell's comments for insights into the economic impact of the Iran conflict amid stalled peace talks. Market participants are also anticipating central bank decisions from the ECB, BoE, and BoC this week.
Delhi residents welcomed cooler weather after days of intense heatwave on 29 April. IMD issued a yellow alert, predicting light to moderate rainfall and thunderstorms, while temperatures are expected to drop significantly in the coming days. Check West Bengal's forecast for Phase 2 polling day.
The dollar firmed as investors awaited the Federal Reserve's rate decision and assessed the impact of the ongoing Middle East conflict. Currencies traded in tight ranges amid thin Asian markets. The yen remained near 160 against the dollar, with traders watching for potential intervention despite the Bank of Japan's hawkish signals.
Indian markets saw a dip on Tuesday, with the Nifty closing below 24,000. Analysts point to the West Asia conflict, rising crude oil prices, and a weakening rupee as key factors. Foreign institutional investors continued their selling trend. The Indian rupee also touched a near one-month low against the dollar. Market watchers are closely monitoring these developments.
Markets experienced a volatile session, closing weaker on Tuesday due to the monthly derivatives expiry. Analysts note the Nifty is attempting to hold above its 20 DEMA near 23,950, but banking sector weakness poses a recovery risk. Several companies, including Bajaj Finance and Eternal, will be in focus due to Q4 results and news developments.
Asian stocks opened lower, mirroring a tech selloff on Wall Street driven by concerns over AI investment returns ahead of key earnings. Treasury yields rose as oil prices fueled inflation expectations, curbing Fed rate cut bets. Technology firms' earnings are now crucial for sustaining the recent global equity rally.
More than 380 corporate turnaround plans are pending clearance from NCLT benches. The Supreme Court's intervention, seeking status report, reflects concerns about prolonged delays in resolution processes under the IBC, with many cases exceeding the stipulated 330-day resolution timeframe.
India's top company rankings show stability at the very top. Reliance Industries remains the most valuable. HDFC Bank has overtaken Tata Consultancy Services. Bharti Airtel is a significant gainer, entering the top tier. Infosys has seen a decline in its ranking. ICICI Bank is consistent. State Bank of India shows upward trends with volatility.
Reliance Industries has achieved a historic milestone. The company has become the first Indian firm to report an annual net profit exceeding $10 billion. This significant financial achievement underscores Reliance's immense growth and market dominance. The oil-to-retail giant's performance surpasses the combined profits of major IT companies, highlighting its exceptional financial strength.
Former FBI director James Comey was indicted for allegedly threatening President Trump through an Instagram post featuring seashells arranged as ‘86 47’.
The Indian rupee weakened significantly on Tuesday, closing at 94.54 against the US dollar. Rising oil prices and strong dollar demand from importers pressured the currency. Traders noted the Reserve Bank of India likely intervened to curb further losses. Elevated oil prices and global trade uncertainties are creating a negative sentiment for the rupee.
