Business

Asian markets surged Tuesday, led by a strong performance in Seoul’s KOSPI, as lower oil prices and renewed hopes for US-Iran diplomatic talks boosted investor sentiment. Despite a breakdown in weekend negotiations, communication channels remain open, with both sides indicating a willingness to continue dialogue. Oil prices also declined, further supporting the positive market reaction.

Emkay Global initiated coverage of Avenue Supermart with a sell rating, citing its high valuation. Morgan Stanley resumed coverage of UPL with an equal weight rating, seeing potential in global crop chemical volume revival. HSBC initiated coverage of Acme Solar with a buy rating, highlighting its rapid growth and long-term earnings visibility.

Oil prices dipped below $100 per barrel as hopes for eased US-Iran dialogue emerged following peace talks in Islamabad. Despite some positive signs, an agreement was not reached, with Iran refusing to abandon nuclear fuel enrichment. The US military extended its blockade of the Strait of Hormuz, prompting threats from Iran, though diplomatic channels remain

Retail inflation in India rose to 3.4% in March, driven by higher food and fuel prices. While core inflation remained subdued, economists anticipate further price increases in the coming months due to the West Asian crisis and potential impacts of heatwaves and monsoon forecasts on food prices.