Brent crude prices have surged around 10 per cent amid escalating tensions in the Middle East following ongoing military confrontation between Iran and the United States after the killing of Iran's Supreme Leader Ayatollah Ali Khamenei.
Former Indian High Commissioner to Canada, Vikas Swarup, on Saturday termed US and Israel strikes on Iran as "a worrisome development" as it hampers India's interest in the Middle-East.
Crude oil prices could surge to as high as USD 95 to USD 110 per barrel if Iran's oil supply and the Strait of Hormuz face disruption amid ongoing tensions, according to a report by Equirus Securities.
At the time of closing, Sensex settled 1068.74 points or 1.28 per cent lower at 82,225.92, while the broader Nifty was at 25,424.65, down 288.35 points or 1.12 per cent. The Nifty 50 index opened at 25,641.80, down by 71.20 points or 0.28 per cent, while the BSE Sensex opened at 83,052.54
Indian equity markets opened under pressure on Friday, with benchmark indices Nifty 50 and BSE Sensex declining amid rising geopolitical tensions between the US and Iran, higher crude oil prices, and cautious investor sentiment.
Crisil expected CPI inflation (for the 2011-12 series) to rise to 5% in the next fiscal, driven by the normalisation of food inflation from deflationary levels in the current fiscal. However, non-food inflation is expected to remain benign, supported by lower crude oil prices and the continu
Indian stock indices recovered on Monday, though not entirely, after the Budget day nosedive, partly due to value buying and weakening global crude oil prices.
According to a recent credit alert from Crisil Ratings, the immediate impact remains muted due to India's limited direct trade exposure to the nation. However, the rating agency warned that a prolonged or escalating conflict could eventually pressure specific sectors, particularly those sens
The chemical sector in the country is facing multiple structural and macroeconomic risks, with challenges ranging from China's persistent overcapacities to elevated crude oil prices and weak demand in key western markets, according to a report by Nuvama.
The dark clouds of selling pressure continued to hover over Indian stock markets on Monday opening as investors remained cautious amid ongoing unrest in Iran and a surge in crude oil prices.
"A lot of money is going to be made. Oil prices will come down, although they are getting down pretty good now without it, and it was a great meeting we had today with the biggest companies anywhere in the world," Fox News quoted Trump as saying.