Air India has introduced an optional ‘Basic fare’ on select domestic routes, excluding complimentary meals to cater to price-sensitive travelers. This new option offers a more unbundled travel choice, while existing fare categories with meals and bundled benefits remain available. The airline will evaluate customer feedback during this pilot phase to decide on its continuation.
Indian equities surged for a third day, with Sensex and Nifty climbing on positive global cues, foreign investment, and easing crude oil prices following a reported US-Iran peace deal. IT stocks led the gains, with HCL Tech announcing a significant investment. Broader markets also participated in the rally, reflecting widespread optimism.
US President Donald Trump indicated that sanctions on Russian oil could be reimposed soon, following the resumption of crude flows through the Strait of Hormuz after an Iran deal. Speaking at the G7 summit, Trump stated that with oil now moving freely, Washington can shift focus to ending the Ukraine war.
India’s grain reserves have reached unprecedented levels, with rice stocks soaring 15% year-on-year to a record high and wheat inventories hitting a five-year peak. This robust buffer strengthens national food security and offers flexibility for exports, even amidst El Niño concerns. Strong farmer procurement and favorable crop conditions have bolstered these impressive reserves.
Prior to the outbreak of the conflict, the Gulf region supplied roughly 40% of India’s crude oil imports. After the war began on February 28, inflows from the region declined sharply.
The US emergency oil stockpile has hit its lowest point since 1983, with the Trump administration drawing down reserves to mitigate economic impacts from global conflicts. Recent releases have pushed the Strategic Petroleum Reserve to less than half full, raising concerns about operational capacity and vulnerability to disruptions like hurricanes.
Gold price prediction today: Gold prices may rise in the near-term as oil prices ease but the US Federal Reserve’s meeting is an important thing to watch, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan.
A tentative US-Iran deal signals an end to a 100-day conflict impacting global oil. While prices dipped, analysts warn full recovery of Strait of Hormuz flows will take weeks, possibly months, due to shipping bottlenecks and ongoing mine clearance. Producers await lasting peace assurances before fully resuming output, with full normalization expected gradually.
Ideally, you should also cross check information across all your major documents such as Form 16, Form 26AS, Annual Information Statement (AIS), interest statements etc. to see if there are any discrepancies.
Stock market recommendations: Somil Mehta, Head of Retail Research at Mirae Asset Sharekhan recommends buying Oberoi Realty, HDFC Life Insurance, Blue Star, and Phoenix Mills as the technical top stocks for today, June 16, 2026:
