Oil prices climbed Friday following attacks on Saudi energy infrastructure and concerns over the Strait of Hormuz closure. Despite a U.S.-Iran ceasefire, fighting persists, with markets closely watching tanker flows. Attacks have significantly impacted Saudi output and refining capacity, creating a measurable supply shock.
Indian equity markets experienced a downturn on Thursday, with the Nifty 50 and Sensex falling approximately 1% each. This decline followed renewed geopolitical uncertainty in West Asia, which soured investor sentiment and led to profit booking after a recent rally. Crude oil prices also spiked amid the developing situation.
Indian banks have largely exited their net open foreign exchange positions ahead of a regulatory deadline, reducing aggregate positions from $40 billion to an estimated $4-7 billion. This move, aimed at complying with central bank curbs, is expected to see the rupee trade in the 93/$ to 94.50/$ range with a depreciating bias.
Financial services bore the brunt of foreign investor selling in the latter half of March, with outflows exceeding ₹60,000 crore, the highest since 2012. This broad-based selling, driven by valuation concerns and geopolitical uncertainty, saw significant withdrawals from banking, automobiles, and construction sectors.
Banks are set to boost credit flow to MSMEs as regulators ease onboarding for the Trade Receivables Discounting System (TReDS). This move aims to improve liquidity and working capital efficiency for small businesses facing global economic strains. Revised guidelines and government mandates further support this shift towards dynamic, cash flow-based financing, crucial for timely payments and business growth.
Indian equity markets saw profit booking on April 9, ending a five-day rally. Several companies like RIL, TCS, and IDFC First Bank are in focus due to news and Q4 results. Granules India faces US regulator scrutiny, while SpiceJet is ordered to pay $8 million to an engine lessor.
Congress is investigating Polymarket after anonymous traders made huge bets on the U.S.-Iran ceasefire minutes before Trump announced it. Past wagers on geopolitical events suggest possible insider trading, with $143 million estimated in profits. Polymarket, banned in the U.S., continues offshore crypto operations while seeking domestic rollout, competing with Kalshi.
In a pivotal move, Paramount Skydance has secured financing for its acquisition of Warner Bros Discovery, aligning with a consortium of banks for permanent funding. This development paves the way for a major step towards finalizing the agreement, with the closure anticipated in the upcoming third quarter.
Oil prices surged back above $100 a barrel as market sentiment shifted from de-escalation optimism to caution. Despite a US-Iran ceasefire, shipping through the Strait of Hormuz remains subdued due to ongoing security concerns and uncertainty, keeping supply risks elevated and prices volatile.
U.S. software shares tumbled on Thursday after Anthropic held back the wide release of a powerful AI model over concerns it could expose hidden cybersecurity vulnerabilities, deepening investor fears about the threat to traditional software firms.
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