The Times of India

Precious metals are poised for a corrective phase this week, with Middle East developments and crucial US economic data, including Fed speeches, shaping investor sentiment. Domestic gold saw a slight dip, while silver gained, supported by a weaker rupee. Global gold declined, but silver rebounded, buoyed by safe-haven demand and strong Chinese imports.

Indian stock markets brace for a volatile, shortened week. Geopolitical tensions in the Middle East, crude oil price fluctuations, and the rupee's stability are key concerns. Foreign investors have pulled significant funds amid the ongoing conflict. Analysts anticipate continued sensitivity to global developments, with domestic economic data also under scrutiny.

The National Stock Exchange is launching Dated Brent Crude Oil futures on April 13, 2026, following SEBI approval. These contracts, based on the globally recognized Platts benchmark, aim to enhance price discovery and hedging for domestic participants. Trading will occur in 100-barrel units with initial daily price bands, and settlement will be in rupees based on monthly averages.

India's top companies faced a significant market capitalisation loss of Rs 1.75 lakh crore last week, with Reliance Industries bearing the brunt. Broader market indices also tumbled amid global uncertainties and Middle East tensions. While most major firms saw their valuations shrink, Larsen & Toubro, Bajaj Finance, and Infosys managed to post gains.

Global helium supplies face a critical shortage due to Middle East tensions disrupting production and shipping. This invisible gas, vital for MRIs, semiconductors, and advanced tech, is irreplaceable and lost forever once released. India, heavily reliant on imports, sees soaring prices and potential disruptions in healthcare and its burgeoning chip industry.

Global crude markets are strained as Middle East conflict escalates, pushing oil prices up and impacting fuel supplies worldwide. Countries like India, Nepal, Bhutan, Pakistan, Sri Lanka, Myanmar, and Bangladesh are implementing measures such as price adjustments, import increases, and conservation efforts to manage the crisis.

Saudi Arabia has fully operationalized its East-West pipeline, moving 7 million barrels of oil daily to the Red Sea port of Yanbu. This crucial alternative route aims to maintain export supplies following disruptions to the Strait of Hormuz. While not fully replacing Hormuz volumes, the pipeline's operation is mitigating significant price increases amid escalating regional tensions.

Global economies reel as Middle East conflict escalates, disrupting oil supplies via the Strait of Hormuz. Nations like Vietnam and India are cutting fuel taxes, while Japan and Germany consider increased coal use. Venezuela faces power cuts, and Pakistan grapples with soaring jet fuel prices. Sri Lanka implements strict fuel rationing, highlighting widespread energy challenges.

How Hormuz disruptions, benchmark volatility and refinery economics are testing India's energy resilience and why the government moved to shield every pump in the country

Prime Minister Narendra Modi inaugurated Phase I of the Noida International Airport, a significant addition to India's aviation infrastructure. Developed under a PPP model, this airport aims to enhance regional and international connectivity for the NCR, easing pressure on existing facilities and supporting India's global aviation ambitions.

Petrol and diesel prices remained largely stable across major Indian cities today, despite global crude oil surges due to the US-Iran conflict. The government's excise duty cuts and strategic measures aim to shield consumers from international price volatility and ensure uninterrupted fuel supply.

Traditionally, India has sourced most of its crude from the Middle East, particularly Iraq, Saudi Arabia and the UAE, owing to geographical proximity, established contracts and reliable shipping routes.

An overhaul of the 153-year-old Cattle Trespass Act will decriminalise key offences, replace jail terms with financial penalties and route collected fines to animal welfare. The definition of cattle, so far limited to bovines, is being expanded to include camels, buffaloes, horses, pigs, sheep and goats. Govt has proposed to reduce the jail term for interfering with seized items, such as food and vehicles, under the Food Safety and Standards Act, 2006, from a maximum of six months to three month

For the moment, it has managed to ensure that consumers are fully protected as the oil retailers and govt will split the burden of higher crude prices. For the oil marketing companies (OMCs), which will have to take a hit during the March quarter, the impact will not be significant if the Indian basket remains around the current level of $112 a barrel.

Credit growth outpaced deposit mobilisation through the current financial year, with incremental credit at Rs 25.3 lakh crore exceeding incremental deposits of Rs 24.3 lakh crore. As a result, the incremental credit-deposit ratio stood at 103.9%. Historically, an 80% credit-deposit ratio is seen as healthy as it factors in the 3% of bank deposits that have to be maintained as cash reserves (CRR) and 18% in liquid govt bonds (statutory liquidity ratio)

The sell-off left investors poorer by nearly Rs 9 lakh crore with BSEs market capitalisation now at Rs 422.2 lakh crore, exchange data showed.Foreign funds were again the main sellers of stocks with the net outflow figure at Rs 4,367 crore, BSE data showed. Since the war between the US-Israel and Iran started, the sensex has lost a little over 7,700 points or 9.5% while investors are poorer by about Rs 41.4 lakh crore.

Pankaj Chadha, chairman of engineering exports body EEPC India, said the measure will help steel mills, particularly smaller units, maintain production. Steel is a key segment of the engineering goods sector, and its shortage could severely impact the production chain. The additional LPG allocation should minimise supply bottlenecks and ensure steady output, he added.

Many analysts are forecasting that oil prices will remain above $100 per barrel for several weeks, pushing up the import bill and inflation. Dealers said that pressure on the rupee has been driven more by heavy foreign investor selloffs than by the West Asia conflict, with outflows crossing $13 billion this month, an all-time high.

Finance Minister Nirmala Sitharaman assured that India will maintain fiscal prudence while shielding citizens from rising global crude oil prices. She highlighted India's stable fuel prices compared to other nations, dismissing lockdown rumors as baseless and aimed at creating fear. The government has reduced excise duty on petrol and diesel to protect consumers.

The government has imposed export duties on diesel and turbine fuel to boost domestic availability and energy security, estimating Rs 1,500 crore in revenue. Simultaneously, special excise duties on petrol and diesel were reduced to shield consumers, keeping retail prices stable amid global oil supply concerns.

FTC allows individual taxpayers to claim a credit in India for taxes paid in a foreign jurisdiction on the same income, thereby reducing the tax payable in India.

Apart from crude oil disruptions, the supply of LPG and LNG have also been hit. India imports a big portion of its LPG and LNG needs and has been looking to step up procurement from alternative sources.

Amidst global energy supply concerns due to Middle East conflict, India has boosted commercial LPG allocation to 70% for industries like steel, auto, and textiles. This move aims to support labour-intensive sectors and those with specialized heating needs. The government also assured fuel security, refuting shortage claims and increasing refinery output.

The government has announced a reduction in excise duty on petrol and diesel. While excise duty on petrol has been cut, the levy on diesel has been removed altogether with an aim to cushion consumers from the surge in global crude oil prices.

Gold price prediction today: Gold prices are seeing a steady recovery and Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities recommends a buy on dip strategy.

Amidst the Middle East conflict impacting global oil supplies, India has implemented measures to ensure domestic fuel availability. The government has imposed export duties on diesel and aviation fuel while simultaneously reducing excise duties on petrol and diesel for local consumption, aiming to shield citizens from price hikes.