US drivers are finally seeing relief as average gas prices drop below $4 a gallon, a welcome change after months of increases. This dip follows a tentative peace agreement between the US and Iran, reopening oil shipments through the Strait of Hormuz. Despite this, fuel costs remain significantly higher than pre-war levels, impacting household budgets
The decline followed a robust run over the previous five sessions, during which the benchmark indices had surged nearly 5%. Adding to investor caution, India VIX, the market’s volatility gauge, climbed nearly 5% to 13.30 in early trade on Friday.
Infosys led the decline with a drop of more than 8%. Other major names, including Mphasis, TCS, Tech Mahindra, LTIMindtree, HCLTech and Persistent Systems, registered losses of around 5-6%.
The Indian Rupee strengthened significantly against the US dollar on Friday, recovering from an all-time closing low. Optimism surrounding an India-US trade agreement, coupled with improved foreign inflows and softer crude oil prices, fueled the currency’s rise. Discussions between Prime Minister Modi and President Trump highlighted progress on a trade pact, with further negotiations planned.
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SpaceX shares experienced a significant drop of over 6 percent on Thursday. This decline follows a period of strong post-IPO performance. Investors are now reassessing the company’s valuation. The broader space sector also saw a dip in stock prices. SpaceX continues its focus on artificial intelligence initiatives.
Oil prices experienced volatility following US Vice President JD Vance’s comments, raising concerns about the Iran-US ceasefire’s stability. Brent and WTI crude saw declines as Vance warned Israel against further attacks on Hezbollah, casting doubt on the accord’s durability. The market now watches the Strait of Hormuz, a key oil transit route, for signs of
Emirates NBD’s significant acquisition of a 60% stake in RBL Bank for Rs 26,015 crore signifies a strategic shift in India-UAE economic ties, moving beyond trade to capital and control. This move positions India as a core growth market for the Dubai-based lender, reflecting historical financial linkages and a desire to deepen the relationship with
