Category: Beyond

Categories
Beyond

Oil surges after Trump rejects Iran terms

Global crude oil prices jumped sharply on Monday after US President Donald Trump dismissed Iran’s latest ceasefire proposal, deepening concerns over a prolonged conflict in West Asia and possible disruptions to global oil supplies.

Brent crude crossed the $105-per-barrel mark, while US crude prices moved closer to $100 as traders reacted to rising geopolitical uncertainty. Market fears intensified over the continued disruption in the Strait of Hormuz, a critical shipping route through which a major portion of the world’s oil supply passes.

Iran’s response to the US-backed peace proposal included demands for sanctions relief, compensation for damages caused during the conflict, and broader guarantees regarding regional security. Trump reportedly rejected the terms, calling them unacceptable and indicating that negotiations remained far from a breakthrough.

The developments have reduced hopes of an immediate ceasefire and triggered fresh worries about stability in the Gulf region. Reports of continued drone attacks and military activity across parts of West Asia further added to market anxiety.

Energy markets responded quickly to the uncertainty. Analysts said fears of reduced oil movement through the Strait of Hormuz could tighten global supplies and push fuel prices even higher in the coming weeks. Countries heavily dependent on oil imports, including India, are expected to feel the pressure more sharply if prices continue rising.

The surge in crude prices has also renewed inflation concerns globally. Higher fuel costs could increase transportation and manufacturing expenses, potentially affecting consumer prices and slowing economic growth.

Financial markets across the world remained cautious following the developments. Investors moved towards safer assets such as gold and the US dollar, while equity markets witnessed volatility amid concerns over rising energy costs.

Also Read: Gold at ₹1.52 lakh, silver at ₹2.74 lakh

Categories
Beyond

Gold at ₹1.52 lakh, silver at ₹2.74 lakh

Gold and silver prices saw a small decline on Monday after a sharp rally in recent weeks, offering slight relief to buyers amid record-high rates. In the domestic market, 24-carat gold slipped ₹10 to ₹1,52,340 per 10 grams, while silver prices fell ₹100 to ₹2,74,900 per kilogram.

Despite the minor dip, prices continue to remain near historic highs as global tensions and inflation fears keep investors interested in safe-haven assets like gold and silver. Analysts say uncertainty surrounding the US-Iran talks and rising crude oil prices are continuing to influence precious metal markets worldwide.

Higher oil prices have increased concerns that inflation could stay elevated for longer, reducing hopes of early interest rate cuts by major central banks. This has kept gold prices supported even as the market witnessed mild profit booking on Monday.

In India, bullion demand has also come into focus after Prime Minister Narendra Modi recently urged citizens to avoid unnecessary gold purchases for a year. The appeal is aimed at reducing pressure on the country’s import bill and foreign exchange reserves, as India imports a large portion of the gold it consumes.

However, jewellers believe demand linked to weddings and festivals is unlikely to slow significantly. Gold continues to hold emotional and cultural importance for Indian families, especially during marriage seasons where jewellery purchases remain customary.

Also Read: Sensex crashes 1,050 points, Nifty slips below 23,900

Categories
Beyond

PM Modi urges pause in gold buying

Prime Minister Narendra Modi’s call urging Indians to avoid buying gold for a year has brought attention to the economic impact of the country’s massive dependence on gold imports. The appeal comes amid record-high gold prices and growing concerns over India’s widening trade deficit.

India remains one of the world’s largest gold consumers, importing the majority of its demand from overseas markets. Economists say rising gold imports increase pressure on foreign exchange reserves and weaken the rupee, especially at a time when crude oil prices are also climbing sharply.

The government’s concern is linked to the current account deficit, which expands when import bills rise faster than exports. Analysts note that high gold purchases during weddings and festive seasons significantly contribute to the import burden. With global gold prices continuing to rally due to geopolitical tensions and inflation concerns, India’s import costs have increased substantially.

Industry experts believe the Prime Minister’s statement is aimed at encouraging households to shift savings towards financial instruments instead of physical gold. Financial planners argue that excessive household allocation to gold limits productive capital flow into equities, mutual funds and banking products.

The jewellery industry, however, expects demand to remain resilient despite higher prices. Companies such as Titan and Senco Gold have indicated that wedding-related buying continues to support sales, although consumers are increasingly opting for lightweight jewellery and exchange schemes to manage costs.

Market observers say the government is trying to reduce non-essential imports at a time when the rupee is under pressure against the US dollar. A sustained rise in gold and crude oil imports could further strain India’s macroeconomic indicators in the coming months.

Also Read: Sensex crashes 1,050 Points, Nifty slips below 23,900

Categories
Beyond

₹30,000 cr blow to state-run oil firms in India

Indian oil marketing companies are facing heavy financial pressure as rising global crude prices continue to increase losses. Reports estimate that state-run firms are losing around ₹30,000 crore every month while keeping petrol and diesel prices unchanged.

The surge in crude prices has been linked to ongoing tensions in the Middle East, raising concerns over possible supply disruptions in the global energy market. Despite higher import costs, oil companies have not increased retail fuel prices in India.

Companies including Indian Oil, Bharat Petroleum and Hindustan Petroleum are reportedly bearing the burden to maintain price stability for consumers. Industry experts say this has resulted in major under-recoveries for the firms.

India depends heavily on imported crude oil, and any sharp rise in international prices directly impacts fuel companies and the economy. Economists say stable fuel prices help control inflation and reduce pressure on transport and daily expenses.

However, analysts warn that continued losses may become difficult to sustain if global oil prices remain elevated for a longer period.

The government has not yet announced any relief measures, but discussions are reportedly underway as companies continue to face mounting pressure.

Also Read: Instagram ends encrypted DMs for users

Categories
Beyond

RBI clears Kotak stakes in AU SFB, Federal Bank

Kotak Mahindra Bank has received approval from the Reserve Bank of India (RBI) to acquire up to 9.99% stake each in AU Small Finance Bank and Federal Bank, strengthening its presence in India’s private banking sector.

The approval allows Kotak Mahindra Bank, along with its group entities and investment arms, to increase its holding in both banks within the permitted limit. The move is being viewed as a strategic investment aimed at expanding Kotak’s footprint across different segments of the banking industry.

Both AU Small Finance Bank and Federal Bank informed stock exchanges that the RBI granted the approval earlier this week. However, the acquisition will still need to comply with banking, market, and foreign investment regulations.

The development comes at a time when Indian banks are increasingly exploring partnerships, investments, and consolidation opportunities to strengthen growth and improve market reach. Analysts believe Kotak’s investments in the two lenders could open the door for closer strategic cooperation in the future.

Federal Bank has a strong presence in retail and SME banking, particularly in south India, while AU Small Finance Bank has built a significant franchise in the small finance and rural lending segment. By investing in both institutions, Kotak gains exposure to different customer segments and regional markets.

The announcement also received a positive response from investors, with shares of the three banks witnessing gains during trading sessions following the RBI approval.

Also Read: Google introduces AI-powered Fitbit Air

Categories
Beyond

Gold near ₹1.53 lakh, Silver around ₹2.70 lakh

Gold and silver prices continued their upward trend on May 8, 2026, in both domestic and international markets, supported by strong safe-haven demand, geopolitical tensions, and expectations of easing monetary policy conditions globally.

In India, gold prices hovered close to ₹1.53 lakh per 10 grams on the MCX, reflecting sustained buying interest despite elevated price levels. Silver also remained strong, trading near ₹2.70 lakh per kilogram, extending its recent rally driven by both investment demand and industrial usage.

According to market data, MCX gold traded around the ₹1.52–1.53 lakh range, while silver stayed close to ₹2.59–2.70 lakh levels during intraday movement, showing firm underlying momentum in bullion markets.

The rise in precious metals is being driven by multiple global factors. Ongoing geopolitical tensions, particularly involving the Middle East, have increased demand for safe-haven assets. At the same time, concerns over inflation and uncertainty around interest rate direction have strengthened investor preference for gold and silver.

Internationally, gold remained firm near multi-month highs, supported by a softer US dollar and expectations of future rate cuts, while silver outperformed due to both investment inflows and industrial demand from sectors like electronics and renewable energy.

In India, physical demand has remained steady due to seasonal buying and wedding-related purchases, although high prices are beginning to impact retail volumes in some regions. ETF inflows and central bank purchases are also providing structural support to bullion prices.

Also Read: Sensex falls over 400 points, Nifty below 24,250

Categories
Beyond

India hits record $863 bn export growth in FY26

India recorded its highest-ever annual exports in the financial year 2025-26, with total exports touching a record $863 billion. The strong performance came despite global economic uncertainty, geopolitical tensions, and slower growth in international trade.

The biggest support came from the services sector, which continued to perform strongly throughout the year. Exports of services such as IT, software, consulting, business support, and digital solutions grew by nearly 8.7%, helping India offset weakness in some merchandise categories.

Officials said the growth reflects the increasing global demand for Indian talent and technology-based services. Indian companies continued to provide digital and business solutions to clients worldwide, even as many economies faced inflation pressures and slowing consumer demand.

Merchandise exports, including engineering goods, electronics, pharmaceuticals, and chemicals, also remained stable. While some sectors faced pressure due to weak global demand and supply-chain disruptions, India managed to maintain overall export momentum.

The final export figures were revised upward after updated services trade data became available. Earlier estimates had projected slightly lower numbers, but the revised data confirmed a new export record for the country.

The achievement is also seen as a positive sign for India’s broader economic growth. Strong exports help bring foreign exchange into the country, support employment, and improve business activity across sectors.

The government has also been working to strengthen trade relationships with multiple countries and push new trade agreements to increase market access for Indian businesses.

Over the past few years, India’s technology and digital industries have expanded rapidly, making the country a key global provider of IT and business services. Industry experts believe these efforts could further boost exports in the coming years.

Also Read: Pronto raises $20 mn, valuation doubles to $200 mn

Categories
Beyond

Gold at ₹15,200, Silver near ₹2.55 lakh

Oil prices edged higher on Thursday as global markets closely tracked developments around a possible peace agreement between the United States and Iran. Investors remained cautious, leading to fresh buying in both crude oil and safe-haven assets like gold and silver.

Brent crude rose above $101 per barrel, while US West Texas Intermediate (WTI) crude traded above $95 per barrel during the session. The rebound came after oil prices had fallen sharply earlier this week on hopes that easing tensions in West Asia could improve global oil supplies.

However, uncertainty over whether a final agreement will actually be reached kept traders on edge. Reports suggested that negotiations between the US and Iran are still facing major differences, making investors cautious about taking aggressive positions in the market.

The developments also influenced bullion prices. In India, 24K gold was priced around ₹15,214 per gram, while silver traded near ₹2.55 lakh per kilogram. Investors continued to move towards precious metals as a hedge against uncertainty in global markets.

Analysts said oil prices remain highly sensitive to geopolitical headlines, especially because the West Asia region plays a crucial role in global energy supply. Any disruption or easing of tensions can quickly impact crude prices worldwide.

The possibility of smoother oil exports through key shipping routes had earlier pushed prices lower, but doubts over the pace and success of diplomatic talks triggered a recovery in crude during Thursday’s trade.

Global equity markets also remained volatile as investors weighed the impact of changing oil prices on inflation and economic growth. Lower crude prices generally support markets by reducing inflation pressure, while higher oil prices can increase costs for businesses and consumers.

Also Read: Sensex rebounds 300 points, Nifty near 24,400

Categories
Beyond

Reliance Jamnagar refinery units shut for upkeep

Reliance Industries is preparing to temporarily shut down certain processing units at its massive 660,000 barrels-per-day refinery for scheduled maintenance, according to a senior government official. The shutdown is expected to last around three to four weeks and will take place later this month.

The maintenance will include a crude distillation unit as well as several secondary processing units at the refinery. The facility is part of Reliance’s Jamnagar complex in Gujarat, one of the largest and most advanced refining hubs in the world.

Officials said the shutdown is planned after Nayara Energy resumes operations at its own refinery later in the month. This sequencing is intended to ensure smooth fuel supply across the domestic market and avoid any disruption during the maintenance period.

The maintenance activity is described as routine upkeep, aimed at ensuring operational efficiency and reliability of the refinery units. Sources indicated that the shutdown is part of planned maintenance cycles that large-scale refineries typically undergo.

Reliance operates one of the world’s biggest refining complexes, processing large volumes of crude oil into fuels and petrochemical products for both domestic consumption and exports. The Jamnagar site is a key contributor to India’s fuel supply chain.

According to officials, the shutdown is not related to any operational failure or emergency situation. Instead, it is a scheduled activity aligned with broader refinery management planning.

The timing of the maintenance is also coordinated with market conditions and other refinery operations in India. This helps maintain balance in fuel availability while large units undergo servicing.

Reliance has not issued an official public statement on the development. However, government sources confirmed that the plan has been discussed within the petroleum ministry framework.

The refinery’s maintenance is expected to conclude within three to four weeks, after which normal operations will resume.

Also Read: Vi names Kumar Mangalam Birla as non-executive Chairman

Categories
Beyond

NSE launches electronic gold receipts system

The National Stock Exchange (NSE) has introduced Electronic Gold Receipts (EGRs) to modernise India’s gold market and bring more transparency to trading.

Under the system, physical gold stored in SEBI-approved vaults is converted into electronic receipts. Each EGR represents ownership of a fixed quantity of gold and is fully backed by real, stored metal. These receipts can be bought and sold on the exchange, similar to shares.

NSE says the aim is to shift gold trading from a largely physical and unorganised system to a regulated digital platform. This will improve price discovery, reduce dependence on physical handling, and make transactions more efficient.

Investors will also be able to convert EGRs back into physical gold when needed. This flexibility is expected to attract both retail and institutional participants, including jewellers and traders.

The exchange demonstrated the system by converting a 1 kg gold bar into an electronic receipt. Officials said the move will help standardise gold trading, improve liquidity, and ensure better transparency in pricing and purity.

India has a large gold market, but most trading has traditionally been physical and outside formal financial systems. With EGRs, regulators aim to bring more of this trade into a structured exchange-based framework.

Also Read: Freshworks cuts 11% jobs as AI handles more coding