Gold prices in India displayed a mixed trend on Thursday. While futures trading saw a marginal increase on the MCX, supported by global cues, retail rates declined in several cities. However, select markets experienced a rise in gold prices due to local factors.
Pakistan’s stock market experienced a sharp decline as Middle East tensions resurfaced, erasing significant gains from the previous day. Hopes for a diplomatic breakthrough between the US and Iran, which had briefly boosted investor confidence, quickly faded following continued Israeli operations and accusations of ceasefire violations. The Strait of Hormuz remains a point of contention,
India is experiencing a significant surge in piped natural gas (PNG) adoption, with daily connections quadrupling to over 10,000. This shift from LPG is driven by enhanced convenience, strong supply stability, and government initiatives promoting PNG as a safe and reliable cooking fuel option.
India’s LPG supply remains unaffected by West Asian geopolitical tensions, with shipments continuing to arrive through the Strait of Hormuz without disruption. Domestic availability is stable at 100 percent, and the government is closely monitoring developments to ensure energy security and diversification.
Despite the temporary pause in hostilities, industry executives have cautioned that a full return to normal oil trade could take at least three months.
An India-flagged LPG carrier, Green Asha, successfully navigated the Strait of Hormuz and docked at JNPA, carrying vital supplies amid regional tensions. This arrival highlights the ongoing efforts to maintain stable domestic LPG supply, with the government ensuring availability and addressing potential concerns for migrant workers.
Gold and silver price prediction today: Both gold and silver prices are seeing some bullish bias and are likely to see a steady rise in the coming days, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group.
The Strait of Hormuz remains a flashpoint amid escalating Middle East tensions, with oil shipments struggling to resume normal flow. Experts suggest any impact on US fuel prices will be delayed, as a fragile ceasefire shows little progress. Global energy supplies face continued pressure, keeping oil markets unsettled despite recent price dips.
Stock market crash today: Nifty50 and BSE Sensex tanked in trade on Thursday, a day after the stock market saw a record single day gain. While Nifty50 went below 23,800, BSE Sensex was down over 1,000 points intraday.
Top stock market recommendations: Aditya Birla Sun Life AMC, Bank of India, and Cummins India have been picked as top stocks to buy today by Aakash K Hindocha, Deputy Vice President – WM Research of Nuvama Professional Clients Group.
