Business

Sensex, Nifty Crash Over 3% to Near One-Year Lows as Oil Spike and West Asia Tensions Shake Markets Sharp Sell-Off Erases Recent Gains Mumbai, March 19: Benchmark equity indices Sensex and Nifty plunged more than 3 per cent on Thursday, closing near one-year lows as a surge in crude oil prices and weak global cues rattled investor sentiment. The sharp decline followed escalating attacks on energy infrastructure in West Asia, which triggered fears of prolonged supply disruptions.Breaking a three-day rally, the 30-share BSE Sensex tumbled 2,496.89 points or 3.26 per cent, marking its steepest single-day fall since June 2024, to settle at 74,207.24. This is its lowest closing level since April 7, 2025. During intraday trade, the index...

Indian Stock Market Crash: Sensex and Nifty See Steepest Fall in Nearly Two Years Amid Oil Price Surge Benchmark Indices Drop Over 3% Amid Global Tensions Mumbai, March 19: Indian stock markets witnessed a sharp decline on Thursday as escalating geopolitical tensions and a surge in crude oil prices weighed heavily on investor sentiment.The benchmark indices recorded their steepest single-day fall in nearly two years. The Nifty fell by 775.65 points, or 3.26 percent, to close at 23,002.15, while the Sensex declined by 2,496.89 points, also down 3.26 percent, to settle at 74,207.24.Crude Oil Spike Triggers Market Sell-Off The market downturn was primarily driven by a sharp rise in crude oil prices amid fears of supply disruptions...

India Stock Market Correction Opens Attractive Entry Point for Foreign Investors, SEBI Official Says Market Correction Creates Fresh Investment Opportunities Mumbai, March 19 – India’s stock market is emerging as an attractive destination for foreign investors following the recent correction, a senior official from the Securities and Exchange Board of India (SEBI) said on Thursday.Kamlesh Chandra Varshney, Whole-Time Member at SEBI, noted that equity valuations have turned “quite attractive” after markets declined over the past few months. The correction, driven by global volatility and the ongoing West Asia conflict, has created a favorable entry point for foreign portfolio investors (FPIs).“The correction has opened up a strong...

India’s Household Gold Reserves Power Surge in Gold Loans Market Over 34,000 Tonnes of Gold Driving Lending Shift New Delhi, March 19: India’s vast household gold reserves are emerging as a key force reshaping the country’s lending landscape, with gold-backed loans witnessing rapid growth, according to a report.Morgan Stanley estimates that Indian households collectively hold more than 34,000 tonnes of gold. Kotak Mahindra Bank values this stockpile at nearly $5 trillion, highlighting the immense financial potential locked within household assets.Despite this, around 90 per cent of the gold remains idle. However, a growing portion is now being leveraged as collateral for loans, unlocking liquidity for borrowers.Gold Loans Gain...

Oil Marketing Stocks Tumble as Crude Oil Prices Surge Amid Middle East Tensions OMC Shares Decline Sharply on Margin Pressure Concerns New Delhi, March 19: Shares of oil marketing companies (OMCs) witnessed a steep decline on Thursday as rising tensions in the Middle East pushed global crude oil prices significantly higher, triggering concerns over profitability.Market participants remained cautious as the surge in crude prices is expected to exert pressure on refining and marketing margins of OMCs, leading to a broad-based sell-off in the sector.Hindustan Petroleum Corporation Ltd (HPCL) led the losses, with its stock plunging 7.42 per cent to hit a 52-week low of Rs 323.35 on the BSE.Bharat Petroleum Corporation Ltd (BPCL)...

India’s Oilmeal Exports to China Surge Over 20 Times Amid Price Advantage, Future Risks Emerge Sharp Rise in Oilmeal Shipments to China in FY26 India’s oilmeal exports to China have recorded a dramatic surge in the current financial year, rising more than 20-fold during the first eleven months of FY26, driven by strong demand and competitive pricing.According to data released by the Solvent Extractors' Association of India (SEA), exports to China reached 7,79,016 tonnes during April 2025 to February 2026, compared to just 38,240 tonnes in the same period of the previous financial year.The bulk of these exports comprised rapeseed meal, highlighting China’s increased reliance on India to meet its feed requirements.Rapeseed Meal...

RBI Explores New Avenues for Use of Indian Rupee Held by Russian Trade Partners Central Bank Eyes Trade Settlement and Investment Options Mumbai, March 19: The Reserve Bank of India is working on expanding the usage of Indian rupee balances accumulated by Russian trade partners, a senior official said on Thursday, highlighting ongoing efforts to strengthen bilateral financial mechanisms.The central bank is evaluating multiple avenues that would allow these rupee holdings to be used more effectively. These include settling imports from India as well as facilitating capital investments within the country.RBI Focuses on Enhancing INR Utilisation N Senthil Kumar, Chief General Manager in the RBI’s Foreign Exchange Department, said the...

Government Launches RELIEF Scheme to Support Exporters Amid Middle East Crisis ₹500 Crore Initiative Aims to Stabilize Trade and Ease Logistics Disruptions New Delhi, March 19: The government on Thursday launched a new scheme titled Resilience & Logistics Intervention for Export Facilitation (RELIEF) to support Indian exporters facing disruptions due to the ongoing crisis in the Middle East. The initiative is aimed at ensuring continuity in trade flows and safeguarding India’s market share during a period of heightened global uncertainty.Commerce Secretary Rajesh Agrawal announced the scheme, stating that it forms part of the broader Export Promotion Mission. He described RELIEF as a structured support package designed to stabilize...

BharatPe Appoints Himanshu Verma as Head of POS Business to Drive Offline Payments Growth Leadership Move Aims to Strengthen Merchant Adoption and Distribution New Delhi, March 19: Fintech firm BharatPe on Thursday announced the appointment of Himanshu Verma as the Head of its Point-of-Sale (POS) Business, effective immediately.In his new role, Verma will focus on accelerating merchant adoption, strengthening the company’s distribution network, and scaling BharatPe’s offline payments ecosystem.Industry Veteran with Over Two Decades of Experience Himanshu Verma brings more than 20 years of experience across channel sales and distribution, go-to-market strategy, UPI payments, POS and EDC acquisitions, merchant acquisition, and the...

Gold Prices Plunge Over Rs 3,600 in Futures Trade Amid Strong Dollar and Global Pressure Weak Global Cues and Rising US Yields Weigh on Bullion Market New Delhi, March 19: Gold prices witnessed a sharp decline in futures trading on Thursday, falling by Rs 3,616 to Rs 1.49 lakh per 10 grams, as global market pressures and a strengthening US dollar dampened investor sentiment.On the Multi Commodity Exchange, gold contracts for April delivery dropped by Rs 3,616, or 2.36 percent, to Rs 1,49,409 per 10 grams. The decline was recorded with a trading volume of 7,387 lots, reflecting significant market activity during the session.Strong Dollar and Bond Yields Reduce Safe Haven Appeal Market analysts attributed the steep fall in gold prices...

Honda Motorcycle & Scooter India to Invest ₹1,500 Crore in Rajasthan Plant Expansion New Production Line at Tapukara to Boost Capacity by 2028 New Delhi, March 19: Honda Motorcycle & Scooter India (HMSI) on Thursday announced an investment of around ₹1,500 crore to set up a third production line at its manufacturing facility in Tapukara, Rajasthan.The new production line is scheduled to commence operations in 2028 and will add an annual production capacity of 6.7 lakh units. With this expansion, the total capacity of the Tapukara plant will increase to 2.01 million units per year.Employment Generation and Regional Development The expansion is expected to create employment opportunities for more than 2,000 people, contributing to...

PM Modi Invites Global Investors to Power India’s Energy Growth at Bharat Electricity Summit 2026 India Positioned as a Key Destination for Power Sector Investments New Delhi, March 19Prime Minister Narendra Modi on Thursday called on global investors to participate in India’s rapidly evolving power sector, urging them to “make, invest, innovate, and scale” in the country as it advances its energy transformation.In a written message delivered by Union Power Secretary Pankaj Aggarwal at the Bharat Electricity Summit 2026, the Prime Minister highlighted India’s position as the world’s fastest-growing major economy and emphasized the country’s readiness to expand its energy capabilities.“I invite the global community to make in...

PM-KISAN 22nd Installment: ₹18,640 Crore Disbursed to Over 9.32 Crore Farmers Women Farmers Account for Over 2.15 Crore Beneficiaries New Delhi, March 19: Prime Minister Narendra Modi has released more than ₹18,640 crore under the 22nd installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, benefiting over 9.32 crore farmers across the country. Among the recipients, 2.15 crore are women farmers, reflecting the scheme’s expanding outreach.Total Disbursement Crosses ₹4.27 Lakh Crore According to an official factsheet released on Thursday, the cumulative disbursement under PM-KISAN has now surpassed ₹4.27 lakh crore since its launch. This positions the scheme as one of the largest direct benefit transfer initiatives...

Tier-2 Cities Account for 29% of India’s Flex Workspace Centers, Ahmedabad Leads Growth Flex Space Expansion Gains Momentum in Emerging Cities New Delhi, March 19: Tier-2 cities in India are steadily strengthening their position in the flexible workspace segment, now hosting more than 575 flex centers with a total footprint of approximately 8.8 million square feet, according to a Vestian report released on Thursday.These cities account for nearly 29% of the country’s total flex centers and contribute over 9% to the overall pan-India flexible workspace stock, highlighting a notable shift beyond metropolitan markets.Ahmedabad Tops Tier-2 Flex Workspace Market Among Tier-2 cities, Ahmedabad emerged as the leading hub, contributing...

HSBC Job Cuts: Bank Weighs AI-Led Restructuring That Could Impact 20,000 Roles HSBC Considers Workforce Reduction Amid AI Push New Delhi, March 19: London-based investment bank HSBC is evaluating a major workforce restructuring as part of its strategy to integrate artificial intelligence into operations. The move, led by Chief Executive Officer Georges Elhedery, is expected to focus on improving efficiency, particularly across middle and back-office functions.Up to 20,000 Roles Could Be Affected According to reports, non-client-facing roles within global service centers are likely to face the greatest impact. Early discussions suggest that as many as 20,000 positions, representing nearly 10 per cent of HSBC’s global workforce, could...

Over 220 Passengers Return Safely After Technical Diversion New Delhi, March 19: Air India successfully operated a special flight to bring back passengers and crew who were stranded in Shannon, Ireland, after a technical issue forced a diversion earlier this week. The flight landed in Delhi early Thursday morning.According to an official, the special flight carried more than 220 passengers. As a gesture of goodwill, each passenger was offered ₹20,000 by the airline.Flight AI102 Diverted to Ireland Due to Technical Issue The incident began on Monday when Air India’s A350 aircraft, operating flight AI102 from New York to Delhi, was diverted to Shannon following a suspected technical issue.The airline confirmed that the aircraft made...

Lamborghini Sees No Immediate Gains from India EU FTA, Eyes Future Inclusion for Hybrid Models Plug In Hybrid Range Excluded from Current Trade Agreement New Delhi, March 19 Italian luxury sports car manufacturer Automobili Lamborghini has said it will not benefit from the recently signed India European Union free trade agreement, as the current framework excludes plug in hybrid vehicles.Chairman and CEO Stephan Winkelmann stated that while the agreement signals a positive step toward tariff reduction, it does not apply to Lamborghini’s portfolio, which is fully composed of plug in hybrid models.“There is good and bad news. The signing between India and the EU to reduce tariffs is a positive sign. But unfortunately, this is not...

Silver Prices Extend Losses for Seventh Session as Fed Signals and Crude Oil Surge Weigh on Market Silver Futures Drop Sharply on MCX Amid Weak Investor Sentiment New Delhi, March 19: Silver futures continued their downward trajectory on Thursday, falling by ₹9,031 to ₹2.39 lakh per kilogram on the Multi Commodity Exchange, marking the seventh straight session of losses.The May delivery contract declined by 3.64 percent to ₹2,39,163 per kilogram, with a trading volume of 6,372 lots, reflecting sustained pressure on the white metal.Hawkish US Federal Reserve Outlook Dampens Bullion Demand Investor sentiment remained subdued as concerns over inflation persisted, driven largely by elevated crude oil prices. Market participants are...

ArcelorMittal Nippon Steel India to Launch ₹70,000 Crore Steel Plant in Andhra Pradesh Work to Begin on India’s Largest Greenfield Steel Project Amaravathi, March 19 – ArcelorMittal Nippon Steel India (AM/NS India) is set to begin work next week on its proposed integrated steel plant in Andhra Pradesh, marking the launch of the country’s largest greenfield steel project.The joint venture between ArcelorMittal and Nippon Steel will invest approximately ₹70,000 crore in the first phase to develop an 8.2 million tonnes per annum capacity plant near Visakhapatnam.Land Allocation and Government Support Accelerate Project Timeline The Andhra Pradesh government has allocated around 2,200 acres for the project and provided support in...

RBI Reassures Stability at HDFC Bank After Chairman Resignation, Appoints Interim Leadership RBI Confirms Strong Governance and Financial Position New Delhi, March 19: The Reserve Bank of India on Thursday reaffirmed confidence in HDFC Bank, stating that the lender remains a Domestic Systemically Important Bank with strong financials, robust governance, and competent management. The statement follows the resignation of part-time chairman Atanu Chakraborty, who stepped down citing ethical differences.The central bank said it has taken note of the recent developments and emphasized that there are no material concerns regarding the bank’s conduct or governance based on its periodic assessment.Transition Plan Approved by RBI The RBI...