Global markets were rattled after US President Donald Trump’s announcement of naval blockade in the Strait of Hormuz. The immediate fallout was visible in Asian trading, where stocks in Japan and South Korea opened lower as investors reacted to the escalation. At the same time, crude oil prices surged sharply, with Brent and WTI jumping…
Imports from Russia averaged 1.98 million barrels per day in March, the highest level since June 2023. (AI image) India is purchasing Russian crude oil in a big way as Strait of Hormuz disruptions continue to constrain global oil supply. India imports almost 90% of its crude oil needs and the ongoing US-Iran war has…
Tensions in the Middle East have sent shockwaves through financial markets worldwide, with the Strait of Hormuz emerging as the focal point of concern. The crucial passage, which carries nearly 20% of the world’s fuel supply, has kept oil prices elevated above $100 per barrel, fuelling uncertainty across asset classes. The unease has spilled over…
Top stocks to buy (AI image) Stock market recommendations: Sona BLW Precision Forgings, and Eicher Motors have been recommended as the top stocks to buy this week by Sudeep Shah, Head – Technical Research and Derivatives, SBI Securities. He also shares outlook on Nifty and Bank Nifty:Nifty ViewThe benchmark index Nifty staged a strong pullback…
Two supertankers carrying Iranian crude have anchored off India’s eastern and western coasts, marking a potential resumption of such imports after nearly seven years, even as the US steps up efforts to restrict Tehran’s oil exports.Ship-tracking data, cited by Bloomberg show that the Felicity, a very large crude carrier owned by the National Iranian Tanker…
Stock market today (AI image) Stock market crash today: Indian stock market benchmark indices, Nifty50 and BSE Sensex, tanked in opening trade on Monday as fresh geopolitical tensions weigh on sentiment, following the collapse of US-Iran peace talks and a sharp rise in oil prices. While Nifty50 went below 23,600, BSE Sensex was down over…
Asian markets began the week on a shaky note, but the story isn’t uniform across the region. While most stocks slipped into the red as lingering uncertainty around the Middle East conflict dragged down investor sentiment, Singapore is bucking the trend with its comparitively better position and its markets hovering near record highs despite the…
Oil markets opened sharply higher, surging past the $100 per barrel mark once again after US President Donald Trump announced that a blockade of Iranian ports would begin from Monday (local time).US crude oil or WTI skyrocketed 8% to $104.24 per barrel, while Brent crude, the global benchmark, soared 7% to $102.29 in early trading.The…
CHENNAI: Toy prices are rising ahead of the summer holidays as the West Asia conflict pushes up crude-linked raw material costs, making the season more expensive for parents. Prices in some categories have already increased. Shabbir Gabajiwala, president of The All India Toy Manufacturers Association (TAITMA), said toy prices could rise 10%-40%, depending on plastic…
A senior Reserve Bank of India official criticised foreign-exchange market makers for their role in aggravating the rupee’s weakness during the ongoing West Asia tensions, as the regulator keeps up its tough messaging stance in its defense of the currency. Addressing an annual foreign exchange dealers’ conference in Paris at the weekend, deputy governor T…