India

Indian shares rose a little higher at the opening of trading on Monday. They were following a global rally as oil prices fell after U.S. President Donald 'Trump'?and Iran’s deputy foreign minister announced an initial agreement to end the conflict and resume traffic in the Strait of Hormuz. Shehbaz Sherif, Pakistani Prime Minister, who served as the'mediator in these negotiations, announced that on Friday they will sign a Memorandum of Understanding in Switzerland. As of 9:15 a.m., the benchmark Nifty rose by 1.53% to 23984.85, and?the BSE Sensex increased by 1.59% to 76,725.27. IST. The Nifty and Sensex gained about...

Indian shares will open higher on Monday as they track a global rally. Oil prices, however, have fallen after U.S. president Donald Trump?and Iran’s deputy foreign minister announced an initial agreement to end the war and resume traffic through Strait of?Hormuz. Shehbaz Sherif, the Pakistani Prime Minister, who served as a facilitator in these negotiations, announced that the countries would sign a Memorandum of Understanding in Switzerland this Friday. As of 7:38 am IST, the GIFT Nifty Futures were trading at 23983.5. This means that Nifty 50 will open 1.5% above Friday's closing price of 23,622.90. The Nifty and BSE...

India has banned commercial consumers from purchasing gasoline and diesel from retail fuel stations, and placed limits on the daily purchase of diesel to prevent local shortages. This is due to disruptions in global supply chains caused by the Middle East war. According to a government directive issued late Thursday, retail fuel station dealers are required to sell no more than 200 litres per vehicle or customer a day. Customers cannot resell diesel. Diesel for commercial customers like trucking firms has been purchased at lower prices at state-run retail outlets than usual. This, in turn, has led to shortages of...

After a flat start, Indian?shares rose on Wednesday, led by Reliance Industries. This was after Meta Platforms announced its first AI-enabled?data centre partnering in India. As of 9:57 a.m. IST, the benchmark?Nifty 50 index rose 0.59% to 23,379.4 while the BSE Sensex increased 0.7% to 74436.6. Reliance rose 2.1% following a Meta announcement that the company would lease a datacenter the Mukesh Ambani?led?company, will build in India. 11 of the 16 largest sectors saw gains. The broader small and mid-caps were flat. The heavyweight financials and the private banks each gained 0.6%. As renewed Middle East hostilities, and expectations of...

Jio BlackRock Asset Management will launch its first exchange traded funds in India by August. The company hopes to emulate 'BlackRock’s' global success in passive investment in a market that is still developing. In the year following its launch, the joint venture between MukeshAmbani's Jio Financial Services (JFS) and the largest asset manager in world has managed to amass about 180 billion rupees in assets. This was achieved by establishing a solid base of cash, debt index and active equity funds. The plan is to begin with equity-focused ETFs. BlackRock manages approximately $5.1 trillion worth of ETF assets worldwide, which...

India's economy was doing well a few months back. India's economy was humming along nicely a few months ago. India is now counting the costs of the Iran War, which, according to economists, will continue to rise if the deadlock in the U.S.-Iran conflict?remains unresolved' and if oil supplies are blocked. India is the third largest oil consumer and importer in the world. It ships about 90% of its crude oil. This makes its economy one of the most exposed to war-related disruptions and war-related wars. India announced a series of measures on Friday to limit the impact of the...

India and Venezuela tried to strengthen their ties on Thursday in the 'energy sector. New Delhi said that Caracas views it as a 'preferred partner in this sector, at a moment when global oil supplies are disrupted due to the Middle East Crisis. Venezuela's interim president Delcy Rodriguez, along with a large delegation of ministers, is in India and met with Indian Prime Minster Narendra Modi Thursday. Rudrendra Tandon (East), Secretary in the Indian Foreign Ministry, said at a press briefing that the discussions between the two parties focused on cooperation in both upstream- and?downstream-energy projects. Tandon stated, "We work...

India's leading?carmakers have reported increased sales in May. Maruti Suzuki, the market leader, said that bookings for its compressed -natural -gas vehicles had risen by 40% as fuel prices rose because of the energy shock caused by the Iran War. India increased petrol and diesel prices four times in May to offset losses due to soaring crude oil costs related to the Iran conflict. This added to the automakers' woes, as they are also dealing with higher raw materials costs, supply chain disruptions, and labour issues. All automakers reported increased domestic sales on Monday. Mahindra &?Mahindra, a maker of SUVs,...

The Indian Supreme Court granted relief to Reliance Industries Ltd on Friday in a securities?fraud?case, overturning both a lower court decision and a 2020 order by the markets regulator that claimed the 'firm' engaged in manipulative trading. According to the order, the court ordered the Securities and Exchange Board of India to refund the 2.5 billion rupees (26.32 millions dollars) that it collected from Mukesh Ambani's company while the appeal was pending. RIL and SEBI didn't immediately respond to requests for comment. Requests for comment from RIL and SEBI were not immediately responded to. The case is about RIL's decision...

Turkey will cut its imports of Urals crude from Baltic and Black Sea port this month to the lowest level for almost a year and a half, according to LSEG, Kpler, and trading'sources. Turkey is the third largest importer in the world of seaborne Russian crude after India and China. It mostly buys Urals, and occasionally other grades. Kpler data indicates that Turkey's Urals exports will average 161,000 barrels per day in this month. This is down from an average of 189,000 barrels per day in January-April, and 302,000 barrels per day in May 2025. This is despite the fact...

Data from trade sources shows that Indian refiners have turned to imports of?lubricants from Latin America and Africa, after Middle East supplies were disrupted by the Israeli-U.S. War on Iran. The world's third largest oil importer and user bought the majority of its crude oil from the Middle East before the war began at the end February. Kpler's preliminary data shows that Indian refiners increased their imports of Venezuelan oil in April and may to cover the shortfall. They also continued to purchase Russian oil. India stopped buying oil from Iraq last month as the exports had been halted. It...

Nirmala Sitharaman, Indian Finance Minister, urged India to concentrate on fuels and fertilisers and to save foreign exchange amid the Gulf Crisis. Modi called for Indians this month to save fuel, avoid buying gold, and take other austerity measures to manage the energy crisis and economic headwinds. Sitharaman stated that it was important for the Prime Minister to call on all countries to conserve their foreign currency as much as possible. She added that this should be considered when focusing on the 3Fs (fuel, fertilizer and foreign exchange). India is suffering from the effects of high crude oil prices and...

The expectation of U.S. tightening of monetary policy and the strength in the dollar has taken some wind out?of a "perfect storm" that was driving an upswing?in gold prices since 2023. Prices are now vulnerable?around $4,000/ounce, as interest rates unfold. Gold's reversal raised questions about the durability of its record-breaking rally, even though geopolitical risks, fiscal deficits, and central bank purchases continue to support bullion in the long-term. The spot gold price has dropped 25% after hitting a record of $5,595 back in January. This is because the Iran War sparked a rally in oil prices and increased bets for...

India's Chief Economic Adviser V. Anantha Nageswaran stated on Friday that the case for changes to capital gains tax on equities was weaker than bonds. This suggests that the government does not see a need to make further adjustments to its tax regime. India exempted institutional foreign investors from capital gains taxes on government securities last week. The move was made to attract more "capital" at a moment when foreign equity outflows are surging, oil prices are high, and the currency is under pressure. South Asia is the third largest oil consumer and importer in the world. It ships about...

Gold prices fell on Friday, and were "on track" to make a loss for the week. This was due to concerns about inflation and possible interest rate increases by the U.S. Federal Reserve. As of 0610 GMT the spot gold price was down by 0.8%, at $4,182.47 an ounce. This was a loss of 3.4% for the week. U.S. Gold Futures for August Delivery rose 2.2% to 4,203.60. Gold dropped to a six-month low before closing at $4,219.69 on Thursday, after U.S. president Donald Trump cancelled planned military strikes?on Iran, and announced an imminent peace agreement. Edward Meir is an...

The demand for gold in India increased slightly this week, as jewellery buyers were attracted by lower prices, despite caution. In China however, premiums eased. The price of gold in India fell to its lowest level since April 2, at 146.444 rupees for 10 grams, on Thursday. It is down 1.5% this week. Chanda Venkatesh said that the demand for gold increased after the recent price correction, especially jewellery buyers. Dealers quoted discounts Discounts of up to $35 per ounce, including 15% import duties and 3% sales taxes, compared to last week's discount of up to $87.5. Although jewellers are...

Gold prices fell on Friday, and were "on track" to make a loss for the week. This was due to concerns about inflation and possible interest rate increases by the U.S. Federal Reserve. As of 0442 GMT spot gold was down by 0.5%, at $4,193.58 an ounce. This was set to be a loss of 3.1% for the week. U.S. Gold Futures for August Delivery rose 2.5% to $ 4,215.30. Gold dropped to a more-than-six month low on Thursday, before closing at $4,219.69 as U.S. president Donald Trump canceled planned military strikes?on Iran, and signalled a forthcoming peace deal. Edward...

Gold prices fell on Friday, and were on track to lose a significant amount of money for the week. This was due to concerns about inflation and possible interest rate increases by the U.S. Federal Reserve. As of 0252 GMT the spot gold price was down 0.5%, at $4,191.17 an ounce. This was a loss of 3.2% for the week. U.S. Gold Futures for August Delivery rose 2.4% to $ 4,212.70. Gold fell to a six-month low before closing at $4,219.69 on Thursday, after U.S. president Donald?Trump cancelled planned military strikes against Iran and announced an imminent peace agreement. Edward...

Investors covered their short positions on Thursday and gold prices rose, rebounding from the?a six-month low. However, concerns about higher inflation rates in the U.S. and rising interest rates have limited gains. Gold spot rose 0.6%, to $4.097.01 an ounce at 836 GMT. It had fallen earlier in the session to its lowest level since November 21, U.S. Gold Futures for August Delivery were down 0.4% to $4,118. Ross Norman, an independent analyst, said that gold is "clearly" oversold right now. It remains to be determined whether or not this is a real recovery of the metal as such or...

Investors?bought? the metal at a bargain price on Thursday as they awaited a crucial U.S. Inflation Report that could influence Federal Reserve policy. Gold spot rose 0.7% by 0741 GMT to $4,103.74 an ounce, after having fallen as low as $4,022.09 per ounce on November 21, earlier in the day. U.S. gold futures for August were down 0.2% to $4,125.10. Matt Simpson, senior analyst at StoneX, said: "With prices hurtling toward $4,000, there's an obvious level of support which could encourage bears to make a quick profit, or tempt battered bulls off the sidelines." The U.S. Dollar Index failed to...

Amitabh Kumra, a trade official in India, said that India did not have'surplus manufacturing capacity' in textiles and steel as claimed in the Section 301 investigation by the U.S. Trade Representative. Washington has cited structural surplus capacity in Indian industries, from solar panels and petrochemicals, to steel and textiles. It also cites its $42 billion goods trade deficit with the United States by 2025. Kumar, India's Additional Trade Secretary, said that its textile and Steel output should be evaluated in relation to the size of its population, its domestic demand, and its growth needs rather than its absolute production. "Overcapacity"...

On Wednesday, gold?fell?to an 11-week low, as oil prices?rose?on renewed hostilities between Iran and the U.S., fueling concerns about inflation. Gold spot was down 1.7% to $4,191.84 an ounce at 0747 GMT after reaching its lowest level since 23 March. U.S. Gold Futures for August Delivery fell?1.6%, to $4,215.60. Ilya Spivak is the head of global macro at Tastylive. He said, "We are seeing a readjustment in what central banks will do globally, and that there has been a major shift towards hawkishness." After President Donald Trump claimed that Iran had?shot down a U.S. Apache helo in the Strait of?Hormuz,...

As the dollar and oil prices rose on Wednesday due to renewed hostilities between Iran and the U.S., gold fell to an 11-week low, fueling concerns over inflation and interest rates hikes. Gold spot was down 1.9% to $4,181.04 an ounce at 0414 GMT after reaching its lowest level since 23 March. U.S. Gold Futures for August Delivery fell 1.9% to $4204.70. Dollars rose, causing greenback-priced gold to be?more costly for holders of currencies other than the dollar. Oil prices rose 1%, fueling inflation fears and expectations that interest rates will remain high for a longer period. The Federal Reserve's...

Gold dropped?more? than 1% to a 11-week low on Wednesday, as the dollar and oil prices rose due to renewed hostilities by the United States with Iran. This fueled concerns over inflation and interest rates. Spot gold fell 1.8%, to $4,187.59 an ounce, by 0230 GMT. This is its lowest level since 23 March. U.S. Gold Futures for August delivery were down 1.7% to $4,213.40. Dollars rose, making bullion priced in greenbacks more expensive for holders?of other currencies. Oil prices increased by 1%, fueling inflation fears and cementing expectations that interest rates will?stay high for longer. The Federal Reserve's policy...