Stock Market Live Updates March 20: Sensex rises 730 pts to 74,936.45; Nifty 50 up 250 pts to 23,256.65 as crude cools on de-escalation hopes; Tata Steel, JSW Steel top gainers

Patel Engineering wins LOA for ₹231 crore Bhutan hydro project; shares rise 1%

Patel Engineering has received theLetter of Award (LOA) from Dorjilung Hydro Power Limited for the BTN/INR 230.70 Crore preconstructionworks of 1,125 MW Dorjilung Hydroelectric Power Project in Bhutan

Shares up 1% on the NSE at Rs 24.95.

1.2 mt bauxite shipments from Guinea diverted to India due to West Asia crisis

India gains 1.2 million tonnes of bauxite from Guinea as West Asia crisis diverts shipments

Nine Guinea bauxite ships originally bound for UAE are diverted to India, boosting alumina production amid West Asia conflict and supporting domestic ports.

Asset managers dump government bonds at record pace on oil shock

Mutual funds have sold government bonds at a record pace in March so far, as the Iran war drove up oil prices, heightening inflation risks, pushing ‌the rupee to record lows and prompting a broad selloff across the debt market.

Asset managers dump government bonds at record pace on oil shock

Mutual funds have net sold government bonds worth ₹35,600 crore so far this month, a record for any month

Veranda Learning Solutions moves step closer to demerger of commerce vertical and listing of J.K. Shah Commerce Education following directions from the National Company Law Tribunal

Veranda Learning Solutions (VLS) has moved a step closer to its proposed commerce vertical demerger and separately list J.K. Shah Commerce Education Ltd (JSCEL), following directions from the National Company Law Tribunal (NCLT), Chennai Bench, under a Composite Scheme of Arrangement involving VLS, Veranda XL Learning Private Ltd (VXLS), and JSCEL. The National Company Law Tribunal (NCLT), Chennai Bench, has directed VLS to convene a meeting of its equity shareholders on April 24, 2026, via video conferencing, to consider and approve the proposed Composite Scheme of Arrangement.

Indian Oil seeks crude from West Africa amid supply shock

State refiner Indian Oil Corp (IOC) ‌is seeking crude mainly from ⁠West Africa for loading in the second ‌half of April, trade ‌sources said ‌on Friday, ⁠as the ⁠Iran war significantly disrupted exports from the Middle East.

Indian Oil seeks crude from West Africa amid supply shock

‌IOC issued a tender to buy West African ‌or North Sea grades ​for April 18-25 loading

Coal India’s CMPDI IPO opens to muted response, issue subscribed 4% so far

The initial public offering of Central Mine Planning & Design Institute Ltd opened to a subdued response on its first day of bidding, with the issue subscribed just 0.04 times or 4 per cent as of 12.54 pm.

Coal India’s CMPDI IPO DAY 1: opens to muted response, issue subscribed 4% so far

The initial public offering of Central Mine Planning & Design Institute Ltd opened to a subdued response on its first day of bidding, with the issue subscribed just 0.04 times or 4 per cent as of 12.54 pm.

Stock Market Live Updates: Thyrocare launches first diagnostic lab in Gwalior

Thyrocare Technologies Ltd (NSE: THYROCARE, BSE: 539871), a leading healthcare diagnostics company in India with 100 per cent NABL accreditation across all its laboratories, has launched its first diagnostic laboratory in Gwalior, Madhya Pradesh, in association with Excellence Diagnostics. The facility was inaugurated by Piyush Singh, Vice President, Thyrocare.

Thyrocare now operates three laboratories in Madhya Pradesh, including existing ones in Bhopal and Indore, further strengthening access to reliable, accurate and affordable diagnostic services across the state.

The new laboratory is equipped with advanced testing infrastructure and supported by trained professionals. It enables accurate and timely diagnostic results and is designed to cater to both routine and specialised testing requirements, supporting preventive and ongoing healthcare needs.

Gwalior, Madhya Pradesh, March 17, 2026

Rupee in free fall, dives 60 paise to new all-time low of 93.49 against US dollar

Rupee in free fall, dives 60 paise to new all-time low of 93.49 against US dollar

Rupee plunges to a record low of 93.49 against the US dollar amid strong dollar, FII outflows, and rising oil prices.

Stock Market Live Updates: Happiest Minds denies knowledge of stake sale talks involving Ashok Soota

Happiest Minds Technologies has responded to a report claiming that EQT, Partners Group and ITC Info are eyeing a chunk of Ashok Soota’s stake in the company. The company stated that it is not privy to any such discussion and therefore cannot comment on it.

Stock Market Live Updates: Angel One declared Interim Dividend of Rs. 1.75 per equity share

Stock Market Live Updates: Tata Elxsi shares rally over 5% after Terumo JV centre inauguration

Tata Elxsi shares surged over 5 per cent on the NSE to ₹4,259.60. The company and Terumo Corporation, a global medical innovation company, inaugurated the ‘Terumo–Tata Elxsi Offshore Development Center’. Shares had hit a 52-week low of ₹4,021.60 in the previous trading session.

Top gainers of Nifty PSU Bank: Bank of Maharashtra (+5.52%), Canara Bank (+5.09%), IOB (+4.80%), Bank of India (+4.13%)

Stock Market Live Updates: All Time Plastics is currently experiencing operational challenges arising from external factors beyond its control.

Stock Market Live Updates: NTPC signs pact with UK’s Octopus Energy to explore new opportunities

NTPC shares rose 2 per cent on the NSE to ₹382. The company signed an agreement with UK-based Octopus Energy Group to explore business opportunities in various segments, including electricity distribution and storage.

Stock Market Live Updates: Vinati Organics subscribes ₹22.95 crore to Veeral Organics rights issue

Vinati Organics has subscribed to the additional fully paid-up equity shares amounting to ₹22.95 crore towards the rights issue of Veeral Organics Pvt Ltd, a wholly owned subsidiary of the company. The issued shares rank pari-passu with the existing equity shares of Veeral Organics Pvt Ltd.

Firstsource Solutions unveils AI-powered operating model, shares flat at ₹219.68

Firstsource Solutions launched Intelligence That Operates, a full-stack, agent-first operating model to design, build, and run AI-powered enterprise operations – with outcomes underwritten, not promised.

Shares flat on the NSE at s 219.68

Top gainers and losers

Top gainers of Nifty midcap 100: BHEL (+4.95%), GMR Airport (+4.75%), OFSS (+4.39%), Tata Elxsi (+4.38%), Vodafone Idea (+4.14%)

Top losers: BSE (-1.76%), National Aluminium (-1.55%), Muthoot Finance (-1.10%)

Market commentary by Pi42

“Heightened geopolitical tensions following strikes on key gas fields in Iran and Qatar have triggered a broad risk-off sentiment across global markets, with Bitcoin slipping below the $69,000 mark amid a wider sell-off in digital assets. The sudden spike in oil and gas prices and fears of prolonged energy supply disruptions have weighed on liquidity expectations and investor confidence, leading to short-term volatility across crypto markets. At the same time, price corrections are also being influenced by macro signals such as tightening financial conditions and a stronger dollar environment, which typically pressure high-beta assets like cryptocurrencies. 

Despite near-term uncertainty, structural developments such as rising whale accumulation in select tokens and continued innovation around cross-chain infrastructure highlight that long-term conviction in the digital asset ecosystem remains intact. Investors should use phases of market consolidation to review portfolio allocations, focus on fundamentally strong assets, stagger entries instead of chasing sharp moves, and maintain disciplined profit-booking strategies. A balanced approach that combines large-cap exposure with selective participation in emerging narratives can help navigate volatility while staying aligned with the broader growth trajectory of the crypto market.” – Avinash Shekhar, Co-Founder & CEO, Pi42

CLSA price action – Laurence Balananco

• Nifty this week’s test and failure below the former support zone at 23,700–23,800
• Now clearly acting as resistance, reinforces the March breakdown
• Market firmly back within the trading range between 21,777–21,800 support and 23,700–23,800 resistance
• A move back towards the 2025 lows, which now looks increasingly likely
• This would negate the previously identified cup-and-handle formation
• Suggests the consolidation has evolved into a more complex, time-consuming pattern

MOSL on Laurus Labs

• Buy, TP Rs 1280
• Deepening innovator CDMO relationships with capability-led scale-up
• Dedicated capacity build-out enabling high-growth adjacencies
• Strategic JV with KRKA to build EU/Asia Pacific focused formulations scale
• Volume-driven ARV growth with stable pricing dynamics

MOSL on IT

• Accenture 2QFY26: Guidance raised, but uncertainty looms
• FY26 organic guidance upgraded to 1.5-3.5% (2.5-4.5% adjusting for DOGE impact); outsourcing deal wins up 8.2% YoY
• Neutral read-through for Indian IT as client budgets for 2026 expected to be unchanged

Nuvama on IT

• Accenture delivered revenue growth at top end of its guidance & upgraded FY26E revenue growth guidance to 4–6% (from 3–6%)— excluding 1% headwind from US Federal business. Investments and hiring to increase as AI drives growth
• See results as a minor incremental positive for Indian IT

HSBC on IT

• ACN’s 2Q results provided limited support to revive IT sector sentiment, as bookings growth continued to decelerate
• Demand environment in 2026 is similar to 2025, though AI is a net tailwind as ACN is gaining market share, said management
• Recent INR depreciation of 4-5% provides support to Indian IT earnings
• Believe valuations are close to trough

Jefferies on IT

• Accenture Takeaways: Implied H2 guidance weak
• Revised growth guidance implies 0.5–4.5% growth in H2FY26, vs 4.5% year-on-year cc growth delivered in H1
• Suggests growth is unlikely to improve in the near term
• Potential escalation in the Middle East, poses downside risk to consensus expectations of growth acceleration in FY27 for Indian IT firms
• Despite the 25% fall YTD, we reiterate Underweight stance as macros may not improve quickly
• AI remains a structural drag

Morgan Stanley on IT

• Accenture’s results have a largely in-line read-across for Indian IT peers
• Historically Accenture’s managed services business had shown stronger correlation with Indian IT services revenue growth
• So far trends in this business show some deceleration versus last year
• Key verticals such as financial services have shown deceleration in momentum year-on-year, which is likely picking up for Indian IT services companies

BofA on IT

• Accenture read-through: Intact growth outlook; AI opportunity is expanding gradually
• Guidance as well as comments of pricing improvement in pockets implies an unchanged immediate growth outlook for India IT amidst concerns of elevated AI productivity
• Middle-east situation could pose a demand risk but this has not been visible in customer spends or discussions thus far
• CY26 IT services spend trends are expected to be like CY25, as per Accenture

Nomura on IT

• Accenture FY26E revenue growth guidance band narrowed to 3-5% y-y
• Read-through for India IT- Momentum in Financial services to continue; sharp growth revival hinges on macro improvement
• Prefer Infosys & Cognizant in largecaps
• Prefer Coforge in mid-caps & eClerx in small-caps.

CITI On IT

Accenture earnings & Indian IT implications

2QFY26 revenues of ~$18 b, +4% yoy in cc – Consulting +3% yoy; managed services +5% yoy (both cc).

FY26 cc rev growth guidance at 3-5% yoy (earlier 2-5%) includes M&A contribution of 1.5% (unchanged).

3Q guidance of +1 to +5% cc yoy growth

Guidance doesn’t incorporate any significant economic disruption.

Data points relevant for industry – TTM bookings ~4% yoy in USD terms, gross margins +40 bps yoy, headcount -2% yoy, North America/Fin. Services – +3%/+7% yoy cc – trends for Indian IT need to be watched out for

NSEIT trades at ~16x FY27E – Indian IT sector view remains cautious.

CITI on DR Lal Pathlabs

• Upgrade to Buy (from Sell), TP Rs 1650
• India diagnostics has transitioned from COVID-era price wars to rational competition, as digital platforms curtailed cash burn and “predatory pricing is over” (per managements). While local standalone/hospital competition persists, Dr. Lal has maintained pricing discipline—no broad hikes.
• Despite this, expect it to deliver 10–12% organic revenue growth, driven by core market gains, Tier 3/4 expansion, and a richer mix from specialty and Swasthfit offerings.
• EBITDA margins should remain strong at 28–29%, supported by operating leverage, better mix, cost control and supply chain efficiency.
• A robust, debt-free balance sheet with strong cash flows enables both organic growth and acquisitions
• After its recent correction, valuations look reasonable (1 SD below 10-yr mean), with an attractive risk-reward backed by steady double-digit earnings growth & c25% RoE

HSBC on Adani Ports

• Buy, TP cut to Rs 1800 from Rs 1850
• ADSEZ’s Middle East exposure stems from Haifa (Israel), oil and gas imports, ME container trade, FX and marine business
• Higher thermal coal for power, rerouted containers, capacity expansion and take-or-pay contracts provide some offset
• Trim FY26-28e EBITDA by 3-6%; reiterate Buy as improving ROCE drives rerating

BofA on HDFC Bank

• Recommendation Buy; Target ₹1175
• Unexpected chairman exit adds to uncertainty
• Fundamentals remain intact
• Believe the exit reflects personal differences between Atanu and the senior management
• Bank has demonstrated a consistent track record of best-in-class governance with no significant issues in over 25 years
• Remain constructive on the bank given current valuations and improving operating performance
• Sustainable improvement in loan growth is key to drive the next leg of re-rating

HSBC on Tata Steel

• Buy, TP Raised to Rs 250 from Rs 235
• UK announced import protection with 50% import tariffs & import quotas cut sharply
• This follows EU’s CBAM & India’s safeguard duty
• TATA’s key regions now have multi-year import protection
• Lifting FY27-28e earnings by 5-14%
• India business – near-term demand concerns, but higher margins & prices over FY27-28
• Steel now has domestic protection, the next positive catalyst would be China export/production cuts

Macquarie on Metal Sector

• Correction an opportunity; prefer ferrous stocks
• Current steel spreads could sustain with risk to skewed to upside
• JSW Steel remains our top pick
• Tata Steel – Maintain Outperform with target price of Rs 222
• JSW Steel – Maintain Outperform with target price of Rs 1319
• Jindal Steel – Maintain Outperform with target price of Rs 1193
• Hindalco – Maintain Neutral with target price of Rs 979
• Coal India – Maintain Neutral with target price of Rs 445

HSBC on LG Electronics

• Recommendation Buy; Target ₹1850
• Long on growth
• Despite weakness in the last two quarters, the growth outlook remains bright
• Margins to expand over forecast period
• Multiple triggers: capacity expansion, leading position in premium category, wider range of price points, exports
• Valuation looks undemanding

HSBC on Blue Star

• Recommendation Hold, Target ₹2000
• Expensive star of the cooling industry
• Blue Star is a leading player in India’s cooling market
• Strong R&D and distribution to help increase market share
• Commercial business absorbs seasonal fluctuations
• Valuation is demanding

HSBC on Appliances

• India’s appliance and electronics industry, valued at USD75- 80bn, is forecast to grow at a 12% CAGR through 2029e
• It’s a vast, complex market – assess product penetration rates based on three different stages of development
• Initiate Buy on LG Electronics – TP Rs 1850
• Initiate hold on Blue Star – TP Rs 2000

Nomura on Petronet LNG

• Buy, TP cut to Rs 340 from Rs 370
• Middle East crisis may hurt near-term volumes
• Cut FY27F EBITDA by 23% as Ras Laffan may take months to come back online
• PLNG currently trades at 11.7x FY27F P/E and 1.8x FY27F P/B
• Learn from Qatar Energy CEO’s interview with Reuters that the strikes have caused long-term damage to 2 of the 14 LNG trains which, according to the CEO, could lead to 12.8mn tons (~17% of capacity) to be offline for 3-5 years
• Also understand from PLNG’s management that India-specific trains were not damaged; therefore, supplies to India might resume once the force majeure is lifted.

Jefferies on Oil & Gas

• Damages to gas infrastructure in Iran and Qatar push out timeline for normalization of supplies and push up medium term LNG prices
• Indian gas players bear brunt of disruption & global LNG oversupply scenario gets pushed out
• OMCs are most impacted by crude rally with HPCL > IOCL > BPCL. ONGC’s consol EPS declines with rising crude due to HPCL stake
• Reliance is a beneficiary of higher GRM if windfall tax is not reimposed.

Morgan Stanley on Auto Sector

• Strong volume growth amid rising inflationary pressures
• Inflationary pressures – from commodities, memory prices, freight rates and power & fuel – are rising and pose a risk to margins
• Duration of disruption is key to assess downside risks
• M&M, TVS, Hero and Maruti are preferred Overweights

CLSA on Autos

Crude is still rude

FY27 earnings decimation or just Q1 being impacted is the question

Believe that if the current situation persists, there is a possibility of 30–40% cuts to FY27 earnings

During the first Covid wave, over a 40-day period, Indian auto OEMs generally corrected in a range of 30–45%

Therefore, another 15% correction in the current environment cannot be ruled out

Beyond such a correction, margin recovery in FY28, supported by a reversal in commodity prices or adequate price hikes through FY27, should be reflected in valuations

Top picks within the India auto OEM space are M&M, Bajaj Auto, TVS, Tata Motors PV and Ashok Leyland

Revise down FY27/28CL EPS for OEMs by 3-13%

Ashok Leyland: Cut FY27/28CL EPS by 6%. O-PF, TP cut to Rs 216 from Rs 227

Bajaj Auto: Cut FY27/28CL EPS by 4-5%. O-P, TP cut to Rs 10707 from Rs 11410

Eicher Motors: Cut FY27/28CL EPS by 6-8%. O-P, TP cut to Rs 7454 from Rs 8066

Escorts Kubota: Cut FY27/28CL EPS by 8-13%, O-PF, TP cut to Rs 3752 from Rs 4313

Hero MotoCorp: Cut FY27/28CL EPS by 5-11%, Hold, TP cut to Rs 5437 from Rs 5913

Hyundai Motor India: Cut FY27/28CL EPS by 5-8%, O-P, TP cut to Rs 2652 from Rs 2853

Mahindra: Cut FY27/28CL EPS by 5-6%, O-P, TP cut to Rs 4448 from Rs 4702

Maruti Suzuki: Cut FY27/28CL EPS by 5-7%, O-P, TP cut to Rs 15961 from Rs 17743

TMPV: Cut FY27/28CL EPS by 11-12%, O-PF, TP cut to Rs 440 from Rs 450

TMCV: Cut FY27/28CL EPS by 3-8%. O-P, TO cut to Rs 648 from Rs 673

TVS Motor: Cut FY27/28CL EPS by 6-9%. O-P, TP cut to Rs 3846 from Rs 4116

Rupee breaches 93/dollar for the first time, down 19 paise to 93.08 against US dollar in early trade

Rupee breaches 93/dollar for the first time, down 19 paise to 93.08 against US dollar in early trade

The rupee hits a record low of 93.08 against the dollar amid FII outflows and rising crude oil prices.

Stock Market Live Updates: Indiabulls enters JV for premium commercial project in Gurgaon

Indiabulls Ltd has entered into a joint venture with a private land-owning entity for the development of a premium commercial project on approximately 2.38 acres in Sector 103, Gurgaon, along the Dwarka Expressway.

Morning Updates: Nifty Highest OI

(24th March Expiry)

Call:25000/Put: 21000 

Nifty 50 EMA – 24926

Nifty 200 EMA- 25089

Nifty Spot – 23777 

Nifty 100 PE – 19.7

Nifty 50 PE – 20.1

Nifty PCR – 0.84

NiftyCash Market Volume – 93k Cr 

FII Index Long Futures remained constant at 14%

S&P 500 : -0.27%

Brent Futures : 106.8

Dollar Index : 99.4

USD INR. : 92.8

Quote: Vikram Subburaj, CEO, Giottus.com

Bitcoin traded in the $70,200-$70,400 range on March 20 and posted a mild 1-1.5% pullback over 24 hours. The intraday band remained relatively contained between ~$68,800 and $71,500. This pointed to a consolidation rather than directional conviction.

From a trading standpoint, immediate support lies near the $69,000-$70,000 zone, which the market has repeatedly defended in recent sessions. A break below this exposes $65,000-$66,000 and it remains the more structurally relevant downside cushion from the late-February correction. On the upside, $72,000-$73,000 continues to cap rallies. The ~$74,400 price point has been acting as a stronger resistance barrier. A decisive move above this band is required to reopen the path towards $80,000, where overhead supply is relatively thin.

On-chain indicators remain constructive but not euphoric. Glassnode data shows the MVRV ratio around ~1.28. This means Bitcoin is trading above its realised cost basis but still below historically overheated levels. The realised cap near $1.08 trillion underscores the depth of capital embedded in the network and suggests resilience despite recent volatility.

Institutional flows have turned mixed. After a strong $199 million net inflow on March 17, U.S. spot Bitcoin ETFs saw $163 million in outflows on March 18 and $52 million on March 19. The shift indicates some short-term profit-taking. This has been particularly from large vehicles such as BlackRock’s IBIT and Fidelity’s FBTC.

Among major altcoins, Ethereum (~2140, -3%), BNB (~640, -1.7%), and Solana (~89, -1.4%) traded weaker on the day, while XRP (~144) and TRON (~0.30) showed relative resilience on a weekly basis. The broader trend suggests altcoins continue to move largely in tandem with Bitcoin.

Macro remains the decisive driver and the signal has turned incrementally restrictive. The U.S. Federal Reserve held rates in the 3.5%-3.75% range on March 18. But the forward guidance has shifted toward a ‘higher-for-longer’ stance, with markets now pricing little to no rate cuts in 2026. This is a sharp reversal from earlier expectations.

The pressure point is inflation persistence, particularly from energy. Brent crude has surged above $110-$115 amid Middle East tensions and raised the risk of a second-round inflation effect. This matters directly for crypto as higher oil feeds into headline inflation, which, in turn, delays Fed easing and tightens dollar liquidity. This combination historically caps upside in risk assets like Bitcoin.

Technically, this macro setup explains Bitcoin’s current range behaviour. BTC is reacting less to isolated data prints and more to rate-path uncertainty and real yields. As long as inflation remains sticky and oil elevated, the $68K-$72K consolidation band is likely to persist. 

In effect, the market is caught between the opposing forces of structural demand (ETFs, supply scarcity) and cyclical macro tightening (rates, oil, dollar strength). And, until one clearly dominates, Bitcoin is likely to remain a macro-sensitive, range-bound asset.

US approves $7 billion more in weapons for UAE, WSJ reports

US approves $7 billion more in weapons for UAE, WSJ reports

Includes Patriot PAC-3 missiles and Chinook helicopters; comes on top of $16.5 billion deals to three West Asian nations announced earlier

NMDC Steel Limited has informed the Exchange regarding Appointment of Mr Krishna Kumar Thakur as Executive Director of the company w.e.f. March 19, 2026

Global bits

United States

Stable labor market (low jobless claims), but Federal Reserve outlook turning uncertain as war-driven inflation clouds rate cuts and may delay easing.

Eurozone

European Central Bank holds rates but flags rising energy-led inflation risk; markets increasingly expect rate hikes in coming months.

United Kingdom

Bank of England keeps rates unchanged (9-0 vote); slowing wage growth offers relief but oil shock keeps tightening bias alive.

Japan

Bank of Japan stays on hold but warns imported inflation (energy) could complicate its still-fragile normalization path.

China

Expected to keep rates steady; balancing weak domestic demand with rising external inflation risks (energy, trade dynamics).

Australia

Strong job additions but rising unemployment rate signals labor market divergence and possible slowing momentum.

Taiwan

Growth outlook upgraded, but central bank cautious as war-driven inflation pressures build.

Switzerland

Swiss National Bank holds rates; closely monitoring currency strength and inflation spillovers.

India

Rupee under pressure due to oil spike.

Asia (Broad)

Oil shock triggering capital outflows and currency weakness; investors increasingly avoiding Asian FX amid inflation uncertainty.

Source: Reuters

Sensex climbed 821.78 pts or 1.11% to 75,029.02 at 9.16 am after opening at 74,559.38 from the previous close of 74,207.24, and Nifty 50 soared 252.60 pts or 1.10% to 23,254.75.

Rupee set for all-time low on oil fears, pullback in crude from highs offers relief

Rupee set for all-time low on oil fears, pullback in crude from highs offers relief

The Indian rupee nears an all-time low due to oil price fears, despite a recent pullback in crude prices.

Stock Market Live Updates: 14 stocks including SBI, 4 Tata group companies, NTPC, IREDA, JSW Cement, Vibhor Steel on Friday

14 stocks including SBI, 4 Tata group companies, NTPC, IREDA, JSW Cement, Vibhor Steel on Friday

Key updates on 14 stocks, including SBI, Tata companies, NTPC, and JSW Cement, highlighting significant partnerships and investments.

As Iran escalates Gulf attacks, oil crosses $119; Israel to stop striking gas field

Oil tops $119 as Iran escalates Gulf attacks; Israel to halt strikes on South Pars

Iran escalates Gulf energy attacks as oil and gas prices surge amid Strait of Hormuz tensions

Pentagon seeks $200 billion extra funds for Iran war amid scrutiny

Pentagon seeks $200 billion for Iran war as Congress scrutiny and political divide intensify

Pentagon seeks $200 billion for Iran war, triggering sharp debate in Congress as lawmakers question costs, strategy and rising US fiscal deficit.

As Iran intensifies Gulf energy attacks, Netanyahu says it can no longer enrich uranium

Iran intensified its attacks on oil and natural gas facilities around the Gulf on Thursday, raising the stakes in a war that is sending shock waves through the global economy.

The strikes, in retaliation for an Israeli attack on a key Iranian gas field, sent fuel prices soaring and risked drawing Iran’s Arab neighbours directly into the conflict. Iran’s targeting of energy production further stressed global supplies already under pressure because of its stranglehold on the Strait of Hormuz, a strategic waterway through which a fifth of the world’s oil is transported. Read more

ECB holds deposit rate steady at 2.15 per cent

EURO ECB Monetary Policy Actual: 2.15 per cent Expected: 2.15 per cent Previous: 2.15 per cent

(Policy decision as per market estimates; economic projections would be important for the outlook of the Euro.)

US’ Scott Bessent signals possible US easing on Iranian oil sanctions soon

Bessent: US may unsanction Iranian oil on water in coming days. US could do another SPR release to keep price down – Fox Business Network interview. US Treasury is not intervening in futures markets. Treasury is intervening in markets by creating excess supply with oil that is on the water. (The comments seem optimistic, however not an official declaration related to the sanctions.)