Oil prices climbed on Friday as traders anticipated supply disruptions. Nuclear talks between the United States and Iran have yet to reach an agreement. Brent crude futures settled at $72.48 a barrel, and U.S. West Texas Intermediate crude finished at $67.02 a barrel. Both benchmarks are on track for weekly gains. Uncertainty prevails, with fear pushing prices higher.
The U.S. dollar is poised for its first monthly gain since October, despite a midday retreat from earlier highs. Hotter-than-expected producer price data initially boosted the greenback, but traders squared positions ahead of month-end and the weekend. Geopolitical uncertainty and expectations of Fed rate cuts are also influencing currency movements.
India’s consumer sector showed gradual recovery in 3QFY26, with 17% revenue and 15% EBITDA growth aided by low base, stable input costs and improving sentiment. Food and staples led gains, while discretionary recovery remained uneven. Titan Company and Britannia Industries delivered strong quarterly performances.
The U.S. Supreme Court blocked Donald Trump’s sweeping tariffs under IEEPA, but his swift 15% global levy revived uncertainty. The ruling jolted global trade dynamics, pressured the dollar, lifted gold and silver, and heightened volatility across energy and base metals markets.
The Nifty IT index plunged 19.5% in February, its steepest monthly drop since 2008, as AI disruption fears and new tools from Anthropic triggered heavy selling. Tech stocks erased Rs 5.7 lakh crore in market value, with Coforge and LTIMindtree among the worst hit.
European shares hit a record high, marking their longest monthly winning streak since 2012-2013, buoyed by positive corporate updates. However, heavyweight banks experienced a significant decline due to concerns over private credit markets and potential AI disruptions. Defensive sectors like healthcare and food and beverage saw gains as investors sought stability.
French bank BNP Paribas acquired 5.28 lakh shares of State Bank of India for Rs 64 crore. The transaction occurred through a block deal with Societe Generale. SBI shares have shown strong investor returns over the past year. The bank recently surpassed Tata Consultancy Services in market capitalization.
Shriram Pistons and Rings raised Rs 1,000 crore via 18- and 24-month NCDs from mutual funds to partly finance its Rs 1,670-crore acquisition of Grupo Antolin’s India entities. The deal diversifies SPRL into automotive interiors, reducing EV transition risks and strengthening its business profile.
Block shares soared more than 16% on Friday after the fintech firm announced it would nearly halve its workforce as part of an overhaul to embed artificial intelligence tools across its operations.
Shares of Dell Technologies jumped 17.5% on Friday after the company forecast revenue from its AI server business will double in fiscal 2027, underscoring surging demand for infrastructure catering to artificial intelligence.
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