Oil Price Today (April 29): Crude oil crosses $110, extends gain for 8th straight session. Here’s why
Oil prices continued their rally for an eighth consecutive day, driven by reports of a potential extended U.S. blockade of Iranian ports. This move, aimed at pressuring Iran’s economy and oil exports, could prolong supply disruptions from the Middle East. The Strait of Hormuz’s reduced accessibility has already significantly impacted energy supplies, leading to fears […]
Gold steady as markets await Powell’s comments on Iran war impact
Gold prices remained largely steady as investors awaited U.S. Federal Reserve Chair Jerome Powell’s comments for insights into the economic impact of the Iran conflict amid stalled peace talks. Market participants are also anticipating central bank decisions from the ECB, BoE, and BoC this week.
Market cap rankings see quiet realignment as banks outpace IT
India’s top company rankings show stability at the very top. Reliance Industries remains the most valuable. HDFC Bank has overtaken Tata Consultancy Services. Bharti Airtel is a significant gainer, entering the top tier. Infosys has seen a decline in its ranking. ICICI Bank is consistent. State Bank of India shows upward trends with volatility.
Global Market Today: Asian stocks drop at open, Brent snaps advances
Asian stocks opened lower, mirroring a tech selloff on Wall Street driven by concerns over AI investment returns ahead of key earnings. Treasury yields rose as oil prices fueled inflation expectations, curbing Fed rate cut bets. Technology firms’ earnings are now crucial for sustaining the recent global equity rally.
Corporates temper bond issues with yields on rise now
Corporate borrowing costs are rising again after a brief dip in mid-April, driven by concerns over the West Asia conflict impacting oil prices. Recent state-backed bond issuances saw lower-than-planned mobilizations, indicating increased caution among issuers and selective appetite in the debt market.
HSBC assigns a ‘Buy’ to JSW Steel, Jindal Stainless
HSBC has initiated coverage on JSW Steel and Jindal Stainless with Buy ratings, anticipating a multi-year demand upcycle fueled by infrastructure and urbanization. The bank also reiterated a Buy on Tata Steel, highlighting strong balance sheets and margin expansion as key sector tailwinds, with price targets implying significant upside.
Rupee under pressure from oil, dollar demand
The Indian rupee weakened significantly on Tuesday, closing at 94.54 against the US dollar. Rising oil prices and strong dollar demand from importers pressured the currency. Traders noted the Reserve Bank of India likely intervened to curb further losses. Elevated oil prices and global trade uncertainties are creating a negative sentiment for the rupee.
New launches, capacity hike to lift Maruti Suzuki facing a war squeeze
Maruti Suzuki’s March quarter net profit declined due to mark-to-market losses, input costs, and production constraints. The company is expanding capacity and expects margin improvement by FY30, driven by SUV launches and EV growth. Despite short-term pressures, FY26 saw record volumes and sales.