The Economic Times

Two Federal Reserve officials said on Friday the Iran war and its impact on energy markets were clouding the outlook for the economy and monetary policy, as one policymaker laid out an outlook calling for notably more interest rate cuts than most U.S. central bank officials currently support.

The Reserve Bank of India on Friday said it will conduct an overnight variable rate repo (VRR) auction of Rs 1 lakh crore on March 23.

During a recent conference, Finance Minister Nirmala Sitharaman highlighted the importance of easing tax payment processes for well-meaning citizens. She championed leveraging cutting-edge technology to pinpoint tax evaders. With the upcoming Income Tax Act, effective April 1, 2025, the goal is to transition India into a more tax-friendly environment.

Super Micro shares sank 27% on Friday after U.S. prosecutors charged three people linked with the company, including its co-founder, with helping smuggle billions of dollars worth of AI technology to China.

US Federal Reserve Governor Christopher Waller on Friday said he was concerned about the impact of the US-Israel war on Iran on inflation due to the prolonged closure of the Strait of Hormuz.

Finance Minister Nirmala Sitharaman announced the Income Tax Act 2025, replacing the 1961 Act with a simpler, more concise framework effective April 1, 2026. The new law aims to foster voluntary compliance through extensive stakeholder consultation and a focus on taxpayer partnership, not adversarial relationships.

India's Zetwerk plans to confidentially file draft papers for an initial public offering within the next one to two weeks, aiming to raise up to $550 million at a valuation of about $4 billion, two people with direct knowledge said.

FedEx shares surged about 7% in morning trading on Friday, after the package-delivery giant raised its full-year profit forecast and signaled steady shipping demand despite geopolitical tensions and surging fuel costs.

Aluminium prices steadied on Friday as investors balanced the competing impacts of the Iran war and lower supply from disrupted operations in the Middle East against weaker demand from a spike in oil prices.

Federal Reserve Vice Chair for Supervision Michelle Bowman said on Friday she's notably more in the way of interest rate cuts relative to her colleagues.

Wall Street's main indexes opened lower on Friday as the Iran war approached its fourth week, roiling energy markets and prompting investors to aggressively reprice bets on the Federal Reserve's interest-rate cuts.

India's core sector growth decelerated to a three-month low of 2.3% in February, impacted by weaker electricity generation and energy industry declines. Cement and steel showed resilience, but refinery products, crude oil, and natural gas contracted. This slowdown signals a broader economic moderation, with forecasts adjusted due to persistent energy price concerns.

India's benchmark 10-year bond yield logged its biggest weekly jump in 15 weeks on Friday, as surging oil prices sent the rupee plunging to record lows and stoked fears of inflation and hawkish central bank policy outlook.

India's central bank has boosted its secondary-market government bond purchases significantly since the Iran war broke out, data showed on Friday.

Warren Buffett rejects market forecasting and instead focuses on identifying undervalued businesses. His philosophy emphasises fundamentals, rational thinking and intrinsic value, helping investors avoid emotional decisions. By ignoring short-term noise and trusting long-term value, investors can build wealth as markets eventually recognise a companys true worth.

HDFC Bank fired three senior executives, including Sampath Kumar, over alleged mis-selling of Credit Suisse AT-1 bonds to NRIs. The controversy follows Atanu Chakrabortys resignation and a sharp market value erosion, raising governance and investor trust concerns.

The government has announced an ambitious Rs 20,000 crore credit guarantee scheme targeting microfinance institutions, a lifeline for those grappling with funding challenges. This program not only seeks to ease liquidity constraints but also aims to invigorate credit distribution within the sector, specifically helping small and medium NBFC-MFIs.

Indian markets closed higher Friday, led by IT gains. Top movers: GMDC, Firstcry, Vodafone Idea, Happiest Minds, HDFC Bank, Acme Solar, and Petronet LNG.

India is now treating vital energy data as a national security matter. All oil and gas companies must share detailed operational information. This move aims to strengthen government oversight and improve responses to supply disruptions. Real-time monitoring of energy supplies will help prioritize critical sectors and make better procurement decisions during crises. This ensures India's energy security.

India's core industries saw slower growth in February, reaching 2.3 percent. This slowdown was mainly due to crude oil and petroleum refinery products. Other sectors like coal, natural gas, and electricity also experienced declines. Steel and cement production showed positive growth. This data reflects the industrial activity across eight key sectors.

Realty firm Max Estates Ltd expects Rs 3,000 crore revenue from a new housing project in Noida.

India's foreign exchange reserves saw a significant drop. Reserves fell by $7.05 billion to $709.76 billion in the week ending March 13. This follows a previous decline of $11.68 billion. The Reserve Bank of India intervened heavily in currency markets. The central bank sold dollars to support the rupee. Global oil prices and the Iran conflict contributed to this pressure.

Realty firm Paranjape Schemes Construction Ltd will invest Rs 700 crore to develop four projects in Pune as part of its expansion plan.

U.S. stock index futures slipped in choppy trading on Friday as the Iran war approached its fourth week, roiling energy markets and prompting investors to aggressively reprice bets on interest rate cuts by the U.S. Federal Reserve.

Gold headed for the biggest weekly loss in six years, as war in the Middle East boosted energy prices and reduced expectations for interest-rate cuts.

On Friday, the benchmark Sensex surged 325 points, closing at 74,532. During this broader market rally, seven BSE 1000 stocks reached 52-week highs, marking their highest levels in the past year.

The Indian rupee has hit a record low against the US dollar. This decline is driven by worries over global energy supply disruptions caused by the Iran war. Higher crude oil prices are impacting India's economy. Foreign investors are pulling money out of Indian stocks. The rupee faces further pressure as the conflict continues.

Cryptocurrencies, led by Bitcoin, have shown remarkable resilience amid geopolitical turmoil, outperforming traditional assets like equities and gold. This surge, nearing 14% since late February, is attributed to institutional buying and traders unwinding bearish options bets, pushing Bitcoin past $75,000. However, some analysts caution that this momentum may be temporary.

Eternal shares surged 3% after Zomato increased its platform fee by Rs 2.40 per order, bringing it in line with rival Swiggy. This move follows a significant correction in Eternal's stock, which has underperformed broader indices over the past six months.

India's crop protection industry faces a 20-25 percent rise in input costs due to the West Asia conflict. This disruption threatens pesticide shortages during crucial farming seasons, potentially lowering crop yields and quality. The industry warns of cascading effects on earnings and employment, especially for MSMEs. Vigilance against counterfeit products is also urged.

Firstcry operator Brainbees Solutions shares surged 20% amid heavy volumes, recovering after recent declines. Despite the rally, the stock remains 47% below its IPO price. The companys expansion into quick delivery and recent financial performance continue to shape investor sentiment amid ongoing volatility in the stock.

Indian equity markets are poised for a short-term bounce from the 23,000 Nifty 50 level. Technical analysts anticipate a recovery towards 23,500-23,600. However, the broader trend signals caution, with a medium-term target of 22,750. Investors should focus on specific sectors like Power, Pharma, and IT for potential opportunities. The upcoming truncated week may see increased volatility.

Vodafone Idea shares rose after TRAI data showed a slowdown in subscriber losses. The telecom firm lost 4.11 lakh users in Januarysignificantly lower than Decembers 9.41 lakh declinebringing its total base to 19.84 crore.

HDFC Bank shares have plunged 21% in early 2026 following the sudden resignation of former chairman Atanu Chakraborty over ethical concerns. Despite this, analysts remain largely constructive, focusing on the bank's long-term fundamentals and attractive valuations, though governance uncertainty could impact near-term upside.

India will reopen the historic Lipulekh Pass for trade with China in June. This route has been closed since 2020. Improved road connectivity is expected to boost participation. Local traders anticipate economic benefits. The reopening follows a period of geopolitical sensitivity regarding the region. Trade will run from June to September.

The Indian rupee is at a critical point, falling past 93 against the US dollar. Crude oil prices and foreign investor outflows are pressuring the currency. Geopolitical risks, especially concerning the Strait of Hormuz, are a major factor. The Reserve Bank of India is intervening to manage volatility. The rupee's future direction depends on easing energy prices and global stability.

Gujarat Mineral Development Corporation (GMDC) shares rose sharply on Friday, adding Rs 2,000 crore in market value after reports of its inclusion in the FTSE GEIS index and a new MoU with NMDC to explore rare earth opportunities, boosting sentiment despite recent weak quarterly earnings.

Mutual funds have sold Indian 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.

India is prioritizing its logistics sector to combat global supply chain issues. The government is implementing coordinated policies and infrastructure plans to transform the system. Efforts aim to cut high logistics costs, estimated at nearly 8 percent of GDP. Initiatives like the National Logistics Policy and PM GatiShakti are driving this change.

A working paper, titled Education and Skilling for Employment: From Credentials to Learning Outcome authored by NITI Aayog member Arvind Virmani, said Indias education and skilling landscape faces challenges such as raising the minimum learning outcomes to the benchmarks appropriate for the per capita GDP levels which we are aiming to reach by 2047 and lowering the drop out rates of students between primary and secondary education.

The top six laggards have fallen in the range of 2540%, while the top six gainers have surged between 40-130% in FY26 among these high-priced stocks.

Investors face a volatile market. Discipline and risk management are crucial now. Capital preservation is key for future gains. Defensives offer some protection but are not foolproof. A bottom-up approach is advised. Banking, especially PSU banks, looks promising. Governance is a key differentiator. Auto sector demand impact will be delayed. A balanced strategy is essential.

Bitcoin hovered near $70,000 amidst geopolitical tensions, a hawkish Fed outlook, and ETF outflows. Markets await CPI data for direction, with $70,000 acting as a key support level. Analysts suggest a consolidation phase, with the broader bullish structure intact despite short-term selling pressure.

India's market faces multiple shocks. Crude oil prices surge, foreign investors exit, the rupee weakens, and inflation rises. Consumers are yet to feel the full impact of fuel price hikes. Some private banks and IT companies show resilience. Domestic-focused businesses are best positioned. Investors should watch crude derivative sectors closely.

Pharma stocks rose up to 4% as Novo Nordisks semaglutide patent nears expiry, raising expectations of cheaper generics in India. Strong growth potential in GLP-1 drugs, low penetration, and aggressive pricing by domestic players like Natco Pharma are driving investor interest in the sector.

India's crude oil imports saw a sharp decline in early March amid disruptions in West Asia, noted a report by Systematix Research, highlighting the impact of the ongoing regional crisis on energy supplies. India's import volume also nosedived to just 1.9mn bbls at week ended 6th Mar vs 25mn bbls per week in Feb'26 and 35mn bbls per week in Mar'26, the report said.

New Income-tax Rules for 2026 are now in effect. These rules will bring the Income-tax Act of 2025 to life starting April 1, 2026. Compliance will be stricter in areas like capital gains and non-resident taxation. Valuation and disclosure rules are clearer. Reporting for financial instruments will be enhanced.

Polite Powertech has filed its DRHP with Sebi to launch an IPO comprising fresh issuance and an offer for sale. The power EPC firm has shown sharp growth in revenue and profitability, supported by a strong order book and newly secured projects, strengthening visibility for future expansion.