The Times of India

Stock market crash today: Continuing the down trend, Nifty50 and BSE Sensex, crashed in opening trade on Thursday with the US-Iran war showing no signs of stopping and oil prices climbing again.

Top stock market recommendations: INOX India, and Apollo Hospitals Enterprise are buy calls from Aakash K Hindocha, Deputy Vice President - WM Research of Nuvama Professional Clients Group. The analyst recommends selling TVS Motor Company. Below is his views on on Nifty, Bank Nifty and each of the three stocks:

Oil prices rose above 9% despite significant releases from strategic reserves by major economies. The United States and the International Energy Agency announced substantial crude oil withdrawals to stabilise markets. However, escalating tensions in the Middle East and the disruption of the Strait of Hormuz continue to fuel price volatility.

A crypto trader's viral tweet about needing a social media permit in Dubai has ignited debate. While framed as bureaucracy, experts clarify that the new UAE regulations target promotional content and influencer marketing, aiming for transparency and professionalisation. This reflects a global trend of governments regulating the burgeoning digital advertising landscape.

Indian equity markets experienced a significant downturn, with Sensex and Nifty shedding nearly 2% on Wednesday. A sharp rise in crude oil prices, fueled by escalating West Asian tensions, dampened investor sentiment. Persistent foreign fund outflows and selling in banking stocks further contributed to the market's decline.

Gold futures experienced a dip on Tuesday, with April 2026 and June contracts trading lower on the MCX. Meanwhile, retail bullion rates in major Indian cities like Delhi, Mumbai, and Chennai saw a slight increase. Market participants are observing a cautious sentiment amidst mild profit-taking at current elevated levels.

India has secured approximately 30 million barrels of Russian crude following a US waiver, with refiners like Indian Oil and Reliance Industries swiftly acquiring stranded cargoes. This move comes as Middle East disruptions impact traditional oil flows, pushing India to seek alternative supplies. The US clarified the waiver is temporary, aimed at stabilizing global energy markets.

The US envoy Sergio Gor has praised India as a great partner for its role in maintaining stable global oil prices, acknowledging New Delhi's ongoing purchases of Russian oil. This temporary waiver, aimed at easing pressure on energy supplies amid Middle East tensions, reflects India's past cooperation with Western sanctions on Russia.

Indian Railways is urging food vendors to switch to electric cooking methods like microwaves and induction, as liquefied natural gas (LNG) and LPG shortages, stemming from West Asia conflict, disrupt meal preparation. This impacts base kitchens supplying trains, prompting consideration of temporary suspension of cooked meal services and refunds for pre-booked meals.

Air India and Air India Express are operating 58 flights to West Asia on Wednesday. Other airlines like IndiGo, SpiceJet, and Akasa Air are also adjusting their schedules. The Directorate General of Civil Aviation has approved Muscat International Airport as an alternate route. Ticket prices are being monitored to prevent surges during this tense period

Union Minister Piyush Goyal assured India faces no fuel shortage despite global energy market volatility. The government has invoked the Essential Commodities Act, prioritizing domestic LPG and natural gas supply for households and vehicles. Measures are in place to manage supply disruptions linked to tensions around the Strait of Hormuz.

Escalating US-Iran tensions are causing sharp volatility in oil markets and significantly impacting the aviation industry. Airlines are raising fares and fuel surcharges due to surging jet fuel costs and airspace restrictions, leading to flight cancellations and passenger disruptions. Oil prices are whipsawing amid uncertainty, with potential emergency reserve releases being considered.

The International Energy Agency (IEA) is considering a record release of emergency oil reserves, potentially exceeding 182 million barrels, to stabilize global markets amid escalating Middle East conflict. This move follows oil prices surging above $100 per barrel due to disruptions in the Strait of Hormuz and production cuts by Gulf nations.

Karnataka has suspended online sales of its famed Mysore silk saris due to overwhelming demand exceeding production capacity. The state-owned Karnataka Silk Industries Corporation will now prioritize limited stock for in-person buyers at its outlets. Online sales will resume once production stabilizes, following efforts to secure premium cocoon supply and increase loom capacity.

India faces a nearly 40% hit to its LNG supply due to the West Asia conflict, prompting the government to devise an optimisation plan for industries. While fertiliser remains a priority, some supply reduction is possible, though the sector is currently buffered by high urea stocks and the agricultural lean season.