The Economic Times

U.S. stocks plunged Friday, with major indexes hitting over six-month lows as the Middle East war suppressed risk appetite. Megacap and software stocks led the decline, while rising oil prices fueled inflation fears and dampened rate cut expectations. Markets now anticipate potential Fed rate hikes.

The Reserve Bank of India has set a new limit for banks on their foreign currency dealings in the rupee. This move aims to control speculative trading and stabilize the Indian currency. Banks must now keep their open positions within 100 million US dollars each day. This regulation comes as the rupee faces pressure and has depreciated significantly.

Online furniture rental platform Rentomojo has filed for an initial public offering in Mumbai, according to a draft prospectus dated Friday.

India's foreign exchange reserves dropped significantly last week. Gold prices fell, impacting the overall reserves. The Indian Rupee also weakened against the US Dollar. Oil prices rose due to geopolitical concerns. The Reserve Bank of India's intervention in the currency market was limited. Traders anticipate further Rupee depreciation, with some forecasting levels around 100 against the Dollar.

Small exporters and e-commerce shipments will receive a boost. The government has removed the value limit for exports via courier services. This change takes effect from April 1, 2026. Previously, a limit of 10 lakh rupees per consignment was in place. The Directorate General of Foreign Trade announced this significant update.

India and Europe are strengthening ties following a trade agreement. Prime Minister Narendra Modi will visit Oslo for the India-Nordic Summit and Italy for bilateral talks. He will also attend the G-7 Summit in France. These engagements aim to boost collaboration amid global supply chain challenges. India's participation highlights its role in addressing key international issues.

Commerce and Industry Minister Piyush Goyal met with US Trade Representative Jamieson Greer and Chinese counterpart Wang Wentao on the sidelines of the WTO Ministerial Conference. Discussions focused on the proposed India-US bilateral trade agreement and bilateral trade matters with China, amidst India's growing trade deficit with the latter.

The government plans to borrow 8.2 lakh crore in the first half of the next fiscal year. This amount represents 51% of the revised borrowing target. The move aims to stabilize the bond market amid global uncertainties. This strategy allows for flexibility in future borrowing plans. The government will also issue 15,000 crore in green bonds.

A Moody's report warns that India and other Asia-Pacific economies face rising credit stress due to the ongoing Gulf conflict. Higher energy prices and supply disruptions, particularly for fuel, food, and industrial inputs, will impact import-dependent nations. Producers heavily reliant on Middle Eastern oil and naphtha are most exposed.

Indian exports to the US are navigating rocky waters. With consumer confidence waning and policy instability looming, shipments are feeling the pinch. The shrimp and textile sectors are struggling to bounce back from setbacks, and ongoing scrutiny of manufacturing practices raises additional red flags. On a brighter note, gems and jewellery exports are showing glimmers of recovery.

India's farm economy is set for a major transformation. The government is creating farmer IDs and using advanced technology to boost incomes. This integrated farming model aims to make India a developed nation by 2047. Farmers will diversify crops and take up allied activities like livestock and bee keeping. This will ensure financial stability and access to credit and insurance.

Reliance Industries Ltd. is planning a massive IPO for its telecom arm, Jio Platforms Ltd. The company is setting investment banking fees at a competitive 0.65% of the issue size. This move is in line with the National Stock Exchange of India Ltd.'s proposed fees. The Jio IPO could be India's largest ever.

Citigroup has denied a Bloomberg report suggesting it was considering acquiring a U.S. regional bank, stating the speculation is aseless. The bank emphasized its sole focus remains on organic growth and executing its ongoing transformation strategy. This denial comes as Citigroup works to complete regulatory compliance and improve profitability.

The Indian rupee hit a record low of 94.81 against the dollar, nearing 95, as surging crude oil prices and a potentially prolonged West Asia conflict weighed on the currency. Mild central bank intervention offered little respite, with traders now forecasting levels as weak as 97 per dollar.

New rules define beneficial ownership for countries sharing land borders with India. Investors from these nations can hold up to 10% ownership via the automatic route. FDI inflows are at a record high, showing strong returns for foreign capital. Production Linked Incentive schemes have attracted significant investment and created jobs.

Rocket Pharmaceuticals' shares dropped significantly after gaining FDA approval for Kresladi, a gene therapy for a rare childhood immune disorder. Investors are concerned about practical challenges limiting patient access, despite the drug's potential to help those with severe Leukocyte Adhesion Deficiency-I. The company plans a phased launch with limited availability.

Philadelphia Federal Reserve President Anna Paulson said on Friday the Iran war is creating challenges for the U.S. economy, while stopping short of saying what that might mean for near-term changes in monetary policy.

The Reserve Bank of India (RBI) on Friday mandated the use of Legal Entity Identifier (LEI) and Unique Transaction Identifier (UTI) for transactions in financial markets.

The Centre is planning to mobilise Rs 8 lakh crore through dated securities during the April-September period of 2026-27 to fund the revenue gap, the finance ministry said on Friday.

The RBI is set to introduce a shared responsibility framework for unauthorized digital payment transactions. This will involve both customer and beneficiary banks in bearing liability. The regulator is also exploring a switch-on/switch-off facility for all digital payment modes. An open and interoperable card ecosystem will be developed to foster competition and innovation.

Securities and Exchange Board of India approved IPOs of six companies, including Vishvaraj Environment and SAEL Industries. Firms span sectors like renewable energy, chemicals and SaaS, while Jindal Supreme withdrew its draft papers, reflecting active primary market momentum.

BYD , China's biggest electric vehicle maker by sales, on Friday posted its first annual profit drop in four years, hit by weak sales in the world's largest auto market.

From rocket launches drawing millions of YouTube views to social media frenzy over its potential listing, SpaceX's debut is shaping up to be a landmark moment for Wall Street.

A parliamentary committee has criticized the Ministry of Labour and Employment for low candidate placements via the National Career Service portal, urging immediate portal amendments to track placement data effectively. The committee also highlighted a pilot scheme under the National Apprenticeship Promotion Scheme in the North-Eastern Region, emphasizing the need to disseminate its benefits widely.

The UK's main stock indexes were on track for a fourth straight week of losses on Friday, as investors remained on edge due to uncertainty around the Middle East conflict, and fears of a spike in inflation.

Wall Street's main indexes opened lower on Friday as the month-long Middle East conflict dragged on, weighing on sentiment despite the United States pushing back another deadline to strike Iran's energy infrastructure.

Shockwaves from the Middle East conflict have rippled through global markets, driving record trading at Intercontinental Exchange across energy, commodities, futures and options.

Bitcoin hovers near $66,510 amid geopolitical tensions and a $14 billion options expiry, driving short-term volatility. Analysts see no trend reversal, with bullish cues targeting $75,000 once pressure eases, while broader market structure remains stable despite recent declines across major cryptocurrencies.

India's unemployment rate dropped to 3.1% in 2025. This positive trend shows progress in job creation across various sectors and for both men and women. Rural unemployment saw a decrease, as did urban unemployment. Youth unemployment also declined. Labour force participation increased, especially for women. Agriculture remains the largest employer, but manufacturing and trade sectors are growing.

India's petrol excise duty cut brings some relief to consumers. However, Oil Marketing Companies continue to face significant losses. Analysts suggest the cut only partially offsets the price increase. Independent refiners, however, may experience substantial profits due to high product spreads. The market is closely watching for geopolitical resolutions or further price adjustments.

Powericas IPO closed with 1.45x subscription on Day 3, driven mainly by strong QIB demand at 4.5x, while retail interest stayed weak. The grey market showed a marginal Rs 2 premium over the issue price of Rs 395. The company aims to raise 1,100 crore through a mix of fresh issue and OFS.

Market downturns, often feared, present prime opportunities for seasoned investors. Instead of panic, focus on buying quality companies at discounted prices, much like Warren Buffett's philosophy. Strong management and sensible valuations during these volatile times pave the way for significant long-term wealth creation, turning anxiety into a powerful investment phase.

Parliament has approved the Finance Bill 2026, with the Rajya Sabha returning it to the Lok Sabha by a voice vote. The Union Budget 2026-27 outlines a total expenditure of Rs 53.47 lakh crore and projects a fiscal deficit of 4.3% of GDP.

RIL, HDFC Bank, PSU banks, airlines, HEG and ACME Solar were among Fridays biggest market movers as crude spikes and geopolitical tensions fueled a broad sell-off.

India's foreign exchange reserves saw a significant drop of over USD 11 billion. This decline occurred in the week ending March 20. The main reason for this fall was a sharp decrease in the value of gold holdings. Despite this, foreign currency assets, a major component, saw an increase. Overall reserves now stand at USD 698.34 billion.

Microsoft Corp. is at the intersection of two troubling trends roiling the technology sector, which has the stock on track for its worst quarterly performance since the global financial crisis two decades ago.

Oil prices rose on Friday but were set for their first weekly decline since February 9 as U.S. President Donald Trump extended a pause in attacks on Iran's energy plants, though investors remain cagey about prospects for ceasefire in the month-old war.

India's paint sector faces significant cost shocks from crude-driven inflation, prompting price hikes. Despite a short-term margin hit, structural factors like painting cycles and the low proportion of paint costs in total job expenses suggest a robust recovery. Investors can anticipate a return to double-digit revenue growth as pricing power re-emerges.

On Friday, the benchmark Sensex dropped 1,690 points to close at 73,583. During this steep fall, nine stocks from the BSE 200 index touched their 52-week lows.

India's joblessness eased in 2025, with the unemployment rate dropping to 6.5 percent. Educated individuals and urban women saw improved employment conditions. More people are now in regular wage jobs. Manufacturing and services sectors gained employment. Youth unemployment also saw a reduction. Overall, India's labour market shows gradual strengthening.

Indian stock markets, including NSE and BSE, will observe closures on March 31 for Mahavir Jayanti and April 3 for Good Friday. The year 2026 has 16 scheduled stock market holidays, with MCX and NCDEX also announcing partial or full trading suspensions on select occasions.

Hyundai Motor India shares fell amid weak market sentiment, extending their one-month decline to about 21%. Asit C Mehta initiated coverage with a Hold rating and limited upside, citing concerns over market share erosion, weak domestic performance, and lack of fuel mix diversification.

India's financial sector is changing fast. KV Kamath, a key figure, states disruption is happening now. Old banks and companies are falling behind. New technology allows startups to build services quickly. Areas like asset management and broking face rapid change. Even insurance is becoming more direct. Banks are losing deposits to investment products. Companies must adapt to survive.

The Indian rupee plunged to a record low on Friday, sliding past the 94-per-dollar mark, with mounting worries over the energy crisis sparked by the Middle East war putting the currency on track for its worst fiscal-year drop in more than a decade.

Fuel prices will now be reviewed every two weeks. This move comes as global crude oil prices surge due to the West Asia conflict. The government is closely monitoring the situation. Domestic LPG production has increased significantly. Supply decisions are being calibrated to prioritize Indian consumers. Key industries are receiving essential fuel supplies.

PSU bank stocks slumped sharply, with the index falling 16% over a month and individual stocks plunging up to 20% amid geopolitical tensions and weak macro cues. A broader market selloff wiped Rs 8 lakh crore in investor wealth, while a falling rupee and global uncertainty weighed heavily on sentiment.

Aditya Birla Real Estate Ltd (ABREL) will redevelop a housing society in Mumbai and expects a revenue of Rs 1,700 crore from free-saleable area

Japanese government bond yields rose across the curve on Friday, as recent hawkish central bank signals and the Middle East war heightened inflation concerns and prompted investors to reprice the path of rate hikes.