Sensex Edges Lower; Indian Oil, HPCL, BPCL Fall Sharply As Global Oil Prices Jump
- At 9:21 am, 26 stocks on the 50-scrip National Stock Exchange benchmark index were trading in the negative zone.
- Top losers on the Nifty 50 were shares of state-run oil marketing companies Indian Oil, Hindustan Petroleum and Bharat Petroleum trading around 3-4 per cent lower.
- Global crude oil prices jumped back to near three-and-a-half-year highs after Mr Trump's announcement on Tuesday.
- A rise in global crude oil prices makes imports costlier for state-run oil marketing companies such as Indian Oil. India imports the bulk of its energy requirements.
- ICICI Bank shares, which had risen more than 11 per cent in the past four sessions, fell 1.5 per cent.
- Shares in other Asian markets fell, as renewed US sanctions on Tehran were seen as disruptive for many companies that have deals with Iran.
- US President Donald Trump's move is also seen as risking worsening already-tense relations between Iran and US allies in the region.
- Mr Trump has been rooting against Iran's nuclear enrichment since the days of his campaigning for presidential elections in November 2016.
- Iran, the third-biggest producer among OPEC member countries, produces about 4 per cent of the world's oil supplies.
- The BSE Sensex had closed 8 points higher at 35,216 on Tuesday, rising for a second straight day, while the NSE Nifty held the 10,700 mark.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
