Global Market Today: Asian shares rally, oil retreats as Trump extends Iran ultimatum
Markets were taken on a rollercoaster ride at the start of the week after Trump added five days to his Saturday ultimatum for Iran to reopen the Strait of Hormuz within 48 hours, citing productive talks with unidentified Iranian officials, which Tehran has denied.
Markets set for 3–4% relief rally amid cooling war risks
Indian stock markets experienced a significant downturn on Monday, with major indices falling sharply and erasing substantial market value. This decline was attributed to escalating West Asian hostilities and global uncertainties. However, a potential relief rally is anticipated for Tuesday following conciliatory remarks from the US President regarding Iran.
Sebi approves tighter conflict code, easier FPI settlement plan
Sebi has approved new conflict-of-interest norms for its chairperson and board members, which will be sent to the Centre for legal binding. The regulator also eased settlement rules for foreign portfolio investors, aiming to attract overseas funds back to Mumbai-listed shares.
Currency woes deepen as oil fears drive rupee to historic lows
The Indian Rupee hit a new low of 93.97 against the US Dollar on Monday. Rising crude oil prices and global tensions are weakening the currency. The Reserve Bank of India intervened to prevent a sharper fall. Analysts expect further volatility. Asian currencies also saw declines amid a global risk-off sentiment.
Precious metals under pressure as higher interest rate outlook dents sentiment
Gold and silver prices experienced a significant slump on Monday, with gold futures dropping 5.6% and silver falling 11%. This decline occurred despite escalating West Asia conflict, as rising inflation fears and expectations of higher global interest rates overshadowed safe haven demand.