Iran Financial News

Q4 results this week: Investors can expect a bustling third week of April, with the stock market poised for action. Key events include the release of January-March quarter results for fiscal 2023-24 (Q4FY24), 2024 general elections, escalating tensions between Israel and Iran, economic data both at home and abroad, and fluctuations in crude oil prices.

Israel, Italy — which holds the rotating presidency of the group of developed nations — said. «The Italian presidency of the G7 has summoned G7 leaders for a video conference early this afternoon», the government said as Prime Minister Giorgia Meloni condemned the attack and said she feared «destabilisation of the region».

Iran on Sunday urged Israel not to retaliate militarily to an unprecedented attack overnight, which Tehran presented as a justified response to a strike that destroyed its consulate building in Damascus earlier this month. «The matter can be deemed concluded,» Iran's mission to the United Nations said in a post on X just a few hours after the start of the operation late Saturday. «However, should the Israeli regime make another mistake, Iran's response will be considerably more severe,» the Iranian mission warned.

Nifty could face knee-jerk reactions on Monday as equity investors are worried about the fallout of Iran's unprecedented full-scale military attack against Israel with more than 300 drones and missiles. On Friday, Sensex had fallen nearly 800 points as FPIs were net sellers to the tune of nearly $1 billion amid worries related to the tweak in the India-Mauritius tax treaty and hotter-than-expected US inflation data. Analysts say the sell-off could extend on Monday as well.

Israel has hailed the success of its defenses in the face of an unprecedented attack by Iran

Booms and air raid sirens have sounded across Israel after Iran launched hundreds of drones, ballistic missiles and cruise missiles in an unprecedented revenge mission that pushes the Middle East closer to a regionwide war

Read more here Prime Minister Narendra Modi released the Bharatiya Janata Party’s (BJP) manifesto ‘ Sankalp Patra’ for the upcoming Lok Sabha Elections 2024, on April 14 – the day marking the birth anniversary of BR Ambedkar, the architect of the Indian Constitution. Titled "Modi Ki Guarantee," the BJP’s manifesto for 2024 elections which has 14 promises focuses on the theme of cultural nationalism. Read more here Supreme Court on Wednesday pulled up the Uttarakhand government for not taking action against Patanjali Ayurved for violation of the law.

market valuation of seven out of the ten most valued companies surged by ₹59,404.85 crore during the holiday-shortened last week, with Bharti Airtel and ICICI Bank emerging as the biggest gainers, PTI reported. In the ranking of top-10 firms, Reliance Industries (RIL) maintained its position as the most valued company, followed by Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India (SBI), Infosys, Life Insurance Corporation of India (LIC), ITC, and Hindustan Unilever (HUL). Also Read | Bitcoin tumbles nearly 8%, settling at $63,000 from March-April highs amid the Israel-Iran crisis Stock markets remained closed on Thursday, April 11, due to Eid-Ul-Fitr celebrations.

Israel has a multilayered air-defense network that includes systems capable of intercepting a variety of threats including long-range missiles, cruise missiles, drones and short-range rockets. However, in a massive attack involving multiple drones and missiles, the likelihood of a strike making it through is higher.

Middle East closer to a regionwide war. More than 200 drones along with ballistic and cruise missiles were sent towards Israel. The US forces extended support to Israel by shooting down ‘nearly all’ drones and missiles, while pledging to convene G7 meeting to develop a unified response.

Salman Rushdie is set to release his memoir "Knife" on Tuesday, recounting the harrowing experience of being stabbed at a public event in 2022 and how he overcame the near-fatal ordeal. Rushdie lost sight in one eye after the attack by a knife-wielding assailant, who jumped on stage at an arts gathering in New York state.

Israel-Iran Tensions: Iran on April 13 launched a drone attack against Israel, which it blames for an attack on its embassy in Damascus (Syria). This marks the first wave of direct military assault amid high-strung tensions between Israel and Iran, raising alarms for a wider regional conflict.

Seriously concerned at escalation of hostilities between Israel and Iran: MEA US President Joe Biden promised "ironclad" support for Israel after holding an urgent meeting with top security officials. "I just met with my national security team for an update on Iran's attacks against Israel.

The White House says it will provide unspecified support for Israel’s defense against an ongoing airborne attack from Iran.

Another major concern is the surcharged geopolitical situation in the Middle East with heightened tensions between Iran and Israel. These will keep the markets on tenterhooks in the near-term, he added.

Iran launched attack drones and missiles against Israel in apparent retaliation for a strike in Syria that killed top Iranian military officers, taking the conflict in the region into a perilous new phase. Digital assets trade during the weekends, giving investors a window on the potential mood when traditional markets reopen on Monday — though much can change between now and the restart.

Iran rained 200 missiles and drones over Israel, the latter's Prime Minister Benjamin Netanyahu said that the first attacks were repelled and that the confrontation was not over. «More than 300 projectiles were fired by Iran at Israel overnight, and over 99 per cent of them were intercepted,» the Israeli military said in a statement.

Nifty 50 ended with weekly gains of 0.4% amid significant volatility and a sell-off in bluechip stocks on Friday after concerns of greater scrutiny on investments done from Mauritius soured D-Street sentiments. When markets resume trading on Monday, a host of important domestic and global events lined up during the holiday-truncated week are likely to impact them. Commenting on last week's action, Santosh Meena, Head of Research, at Swastika Investmart, said that Nifty surrendered most of its gains on Friday dragged by US inflation concerns, geopolitical tensions, and selling by Foreign Institutional Investors (FIIs).

Israel, in a significant development, has demanded 'terrorist' tag for Iran's revolutionary guards corps after drone strikes by the latter on its territory, reports said on April 14. According to the reports, Israel placed a request with the United Nations Security Council to hold a meeting to unequivocally condemn Iran. Designate its Islamic Revolutionary Guard Corps (IRGC) as a terrorist organisation.

Israel early Sunday after Iran launched hundreds of drones, ballistic missiles and cruise missiles in an unprecedented revenge mission that pushed the Middle East closer to a regionwide war. The attack marked the first time Iran has launched a direct military assault on Israel, despite decades of enmity dating back to the country's 1979 Islamic Revolution. Condemnation from the United Nations chief and others was swift, with France saying Iran «is risking a potential military escalation,» Britain calling the attack «reckless» and Germany saying Iran and its proxies «must stop it immediately.» The Israeli military's spokesman, Rear Adm. Daniel Hagari, said Iran fired scores of drones, cruise missiles and ballistic missiles — with the vast majority intercepted outside Israel's borders. He said warplanes intercepted over 10 cruise missiles alone, also outside Israeli airspace.

Iran's drone strike on Israel, India on April 14 issued a statement pushing for a scaledown in Iran-Israel face-off. India is concerned over the new emerging realities in the region, a statement by the External Affairs ministry said. «seriously concerned at the escalation of hostilities between Israel and Iran which threatens the peace and security in the region,» the statement read.