India’s largest airline, IndiGo, reported a consolidated net loss of Rs 2,536.9 crore for the March quarter, a significant shift from a profit of Rs 3,067.5 crore a year ago. The airline’s performance was impacted by a sharp rupee depreciation and a challenging operating environment, despite a rise in total income.
US stocks continued their record-setting rally, driven by strong earnings and AI optimism, pushing major indices higher. Despite inflation and geopolitical concerns, investor sentiment was buoyed by hopes of a US-Iran ceasefire extension, easing energy market pressures. Technology stocks, particularly Dell, led the gains as markets closed the week on a positive note.
US stocks continued their record-setting rally, driven by strong earnings and AI optimism, pushing major indices higher. Despite inflation and geopolitical concerns, investor sentiment was buoyed by hopes of a US-Iran ceasefire extension, easing energy market pressures. Technology stocks, particularly Dell, led the gains as markets closed the week on a positive note.
Indian stock markets experienced a significant downturn on Friday. Investor wealth saw a substantial decline of Rs 5.77 lakh crore. Benchmark indices, Sensex and Nifty50, plunged sharply in the final trading hour. Concerns over a weaker monsoon outlook and geopolitical uncertainty fueled the sell-off. Broad-based selling pressure was observed across various sectors.
India’s foreign exchange reserves dropped by $7.511 billion to $681.384 billion in the week ending May 22, marking a second consecutive weekly decline. This decrease follows a significant fall in the previous week, with the reserves now under pressure due to the Middle East conflict and RBI’s currency market interventions.
Mediators are facilitating fresh US-Iran negotiations on a draft memorandum aimed at ending the ongoing conflict. The proposed agreement includes a multi-billion dollar reconstruction package for Iran’s economy and a temporary non-aggression arrangement, with nuclear talks deferred to a later phase.
