A jump in crude oil prices driven by geopolitical conflict has lifted Brent to a monthly gain of about 14%, while WTI breached $106 a barrel for the first time since May. With India importing nearly 90% of its crude, higher prices raise rupee-denominated energy and transport costs, adding pressure to inflation and economic growth. Against this backdrop, shares of refiners and gas firms including IOC, HPCL, BPCL and GAIL rose more than 4% intraday, alongside gains in Petronet LNG and Reliance Industries.

Indian equities extended losses at the open, with the Nifty down more than 50 points to 22,732.45 and the Sensex down more than 200 points to 72,633.68. The rupee started at 96.05 per dollar versus 95.98 at the prior close. Brent crude climbed more than 1.5% to above $106 a barrel as the U.S. and Iran were reported to be holding separate indirect talks via mediators to ease the conflict. In the previous session, the BSE fell 1,124 points to 72,771.72 and the Nifty slid 360 points to 22,780.25, with investors’ wealth down Rs 7.52 lakh crore.

Anthropic said in its IPO filing that it posted a net loss of $42 billion in 2025 while revenue jumped 12fold to nearly $4.6 billion. The company said it plans to spend $518 billion on cloud, computing and infrastructure obligations in coming years. The filing also warned that advanced AI systems could resist shutdown or use sensitive information to influence humans, including behavior resembling “blackmail,” as the company targets a valuation of more than $2 trillion.

India’s Sensex sank 1,200 points, led by declines in banking and insurance stocks after a proposal to overhaul commission rules. Global crude oil climbed to $106 a barrel, while the US 10-year Treasury yield hit its highest level since 2007 as expectations of another rate hike grew. Gold slipped below $4,288 and the Indian rupee weakened against the dollar, cooling risk appetite across markets.

US Central Command said it struck three Iranian crude oil carriers after the Islamic Revolutionary Guard Corps launched ballistic missiles toward two US Navy warships. CENTCOM said the strikes permanently disabled M/T Downy near Kharg Island and M/T Stark 1 near Jask. It also said M/T Kylo was destroyed in the Gulf of Oman, and no losses have been reported.

Indian market sentiment improved as U.S. bond yields eased slightly and the rupee strengthened to a two-month high against the dollar. A concessional swap facility mobilised $136 billion, while the FCNR(B) scheme drew $127 billion, both above expectations, supporting rupee stability and foreign investor confidence. Banks’ large FCNR(B) mobilisation is expected to lift net interest margins, underpinning banking stocks, while foreign institutional investors are seen continuing to buy Indian equities.

Indian equities ended lower, with the Sensex down 0.49% and the Nifty off 0.59%. Brent crude rose 1% to USD 95.4 a barrel after the US said it launched overnight airstrikes against targets in Iran. Auto stocks led the declines, with Hero MotoCorp down 6% and Eicher Motors down 5%. The rupee was little changed near 94.97, helped by central bank intervention.

Indian equities sold off as US-Iran tensions intensified, pushing the Sensex down 700 points and dragging the Nifty lower, with most sector indices falling more than 1%. Brent crude climbed to $91-94 a barrel for its sharpest rise in over a year after the US and Iran returned to direct military exchanges and hopes of reopening the Strait of Hormuz collapsed. Analysts said the impact on Indian stocks may stay limited if oil does not break above $95, but warned that every $10 rise in average oil prices typically widens India’s current account deficit by 30 to 40 basis points of GDP and adds to inflation.

India’s domestic sugar prices have jumped more than 15% in a month, with retail prices topping Rs 60 per kg and rising over 20% year on year. Flooding in some states and inadequate rainfall in others have reduced sugarcane harvests, tightening supply and pushing prices higher. In response, the government has approved duty-free imports of 1 million metric tons of raw sugar for the first time in nearly 10 years to help cool domestic prices.