Iran Financial News

MUMBAI : Rich and retail investors have turned bearish on index futures, the first time in nearly three months, indicating stocks trading at record levels may be close to a peak for now as tensions rise in West Asia. On Wednesday, when the Nifty kissed a fresh high of 22775.70 points, retail and high networth individual investors (HNIs) initiated cumulative bearish bets on these index futures contracts, showed data from NSE, which groups both under the 'Client' category. The category turned cumulative net sellers of 16,088 Nifty and Bank Nifty futures contracts, marking a shift 84 days after remaining net buyers of these contracts.

New Delhi: Rising prices of raw materials for manufacturing plastic products could further burden the Indian economy lead to a hike in the prices of plastic goods in the near future, said Sribash Dasmohapatra, executive director of the Plastic Export Promotion Council (PLEXCONCIL), a body under the ministry of commerce. Raw materials used for manufacturing plastics, such as ethylene and propylene, are primarily sourced from countries with abundant petrochemical resources like Russia, Iran, the United Arab Emirates and Saudi Arabia.

Ei-ul-Fitr, while Gaza's Hamas leader Ismail Haniyeh mourned the loss of his three sons and four grandchildren in an Israeli airstrike. According to reports, an Israeli airstrike killed the sons and grandchildren of the Hamas leader on Eid. However, a Reuters report suggests that the airstrike was done without consulting Israeli Prime Minister Benjamin Netanyahu.

After Chabahar, India is reportedly on course to gain the rights to operate a second overseas port, Sittwe, located in the Rakhine state of Myanmar. There is though no official corroboration yet. Ports in the Indian Ocean have become hot property as China on one side and the India-US combine on the other race to invest in them.

WASHINGTON—U.S. intelligence reports show that an attack on Israeli assets by Iran or its proxies could be imminent, U.S. officials said Wednesday, as the top American military commander for the Middle East headed to Israel to coordinate a response.

Middle East crisis, potentially involving Iran, the third-largest oil producer in OPEC. Brent crude futures advanced by 4 cents to $90.52 a barrel by 0047 GMT, while U.S. West Texas Intermediate crude futures were up 2 cents at $86.24 a barrel.

Live: Eid-al-Fitr 2024 moon sighting Highlights: India to celebrate Eid on April 11 except THESE places Whereas Kerala, Ladakh, and Jammu & Kashmir, witnessed the crescent on April 9, due to this these states celebrated Eid on April 10 together with the Muslims in Saudi Arabia, UAE, Oman, Qatar, Kuwait, Bahrain, Egypt, Turkey, Iran, USA, United Kingdom and other countries in the Middle East and West. Also Read | Eid-al-Fitr 2024: Wish your friends and family 'Eid Mubarak' with these quotes, WhatsApp messages Banks closed for 14 days across states; check the state-wise list of bank holidays in April.

both Brent and WTI fell more than one per cent. Coming to domestic prices, crude oil futures last traded 0.18 per cent higher at ₹7,115 per barrel on the multi commodity exchange (MCX) platform.

Time of India, these properties are being reclaimed from warlords associated with the previous Western-backed regime. It is to be noted that this initiative represents an important stride in addressing the injustices experienced by religious minorities in Afghanistan, who have endured displacement and marginalization for an extended period, according to a Taliban official.

Brent crude futures were flat at $89.42 per barrel at 0010 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 2 cents to $85.25.

Reuters as saying that Russian Foreign Minister Sergei Lavrov's visit to Beijing could be seen as preparation for "upcoming contacts at the highest level." ALSO READ: China Providing Geospatial Intelligence to Russia, US Warns "Indeed, such contacts are planned and there is an understanding of their expediency and necessity, given the high level of friendly relations between the Russian Federation and China," Peskov told reporters. ALSO READ: Yellen Threatens Sanctions for China Banks That Aid Russia War "But we still consider it premature to specify any time frames.

The drone in the video, which is clearly modeled after Iran’s Ababil model — the workhorse of paramilitaries across the Middle East since it was developed in the 1990s — reflected a design tweak: Its two front tires, instead of the usual one, provided actual battlefield evidence that Sudan is modifying the Iranian drone into its own weapon, which it calls the Zagel-3. That revelation follows the emergence in the last two years of ramped-up Iranian drone production in at least five other countries, from South America to Central Asia. Most recently, Russia has started making Iranian drones for its war in Ukraine, bringing the number of countries using Iranian technology, assistance, or parts to at least a dozen.

Oil prices rose in early Asian trading after hopes diminished that negotiations between Israel and Hamas would lead to a ceasefire in Gaza and ease tension in the Middle East. Brent crude futures rose 40 cents to $90.78 a barrel by 0032 GMT. U.S. West Texas Intermediate (WTI) crude rose 35 cents to $86.78.

Why are gold and US dollar rates moving in same direction? — explained In March, China's central bank disclosed an addition of 160,000 troy ounces of gold to its reserves. Alongside, countries including Turkey, India, Kazakhstan, and various Eastern European nations have also engaged in gold purchases throughout the year. “The gold and silver market continues its relentless climb.

Gold set a fresh record above $2,350 an ounce before paring gains, as investors shifted focus to a key US inflation reading later this week. 

oil jumped above $90 a barrel just days ago, military tensions between Israel and Iran were the immediate trigger. But the rally’s foundations went deeper — to global supply shocks that are intensifying fears of a commodity-driven inflation resurgence. A recent move by Mexico to slash its crude exports is compounding a global squeeze, prompting refiners in the US — the world’s biggest oil producer — to consume more domestic barrels. American sanctions have stranded Russian cargoes at sea, with Venezuelan supply a potential next target. Houthi rebel attacks on tankers in the Red Sea have delayed crude shipments. And despite the turmoil, OPEC and its allies are sticking with their production cuts. It all adds up to a magnitude of supply disruption that has taken traders by surprise. The crunch is turbocharging an oil rally ahead of the US summer driving season, threatening to push Brent crude, the global benchmark, to $100 for the first time in almost two years. That’s amplifying the inflation concerns that are clouding US President Joe Biden’s reelection chances and complicating central banks’ rate-cut deliberations.

Israel's defence minister said on Sunday that the country was ready to handle any scenario after Iran threatened to retaliate for the killing of Iranian generals on April 1. An Iranian official said on Sunday that Israeli embassies were not safe, and a semi-official news agency published a graphic showing weapons that it said would be capable of striking Israel. Israeli Defence Minister Yoav Gallant's office made the statement about preparedness after he held an «operational situation assessment» with senior military officers.

Spot gold closed with a solid gain of 1.76% at $2330 Friday as the metal rallied for the third straight week. It hit a fresh record high just above $2330. It posted a whooping gain of nearly 4.50% on the week despite surging yields and a largely steady US Dollar. Part of the gains this week could be attributed to escalating Middle East tensions on possibility of a direct war between Israel and Iran. The ten-year US yields were up 2.14% Friday and were up around 4.70% on the week. The two-year US yields closed at 4.76%, up by 2.26% Friday and were up around 2.50% on the week. The US Dollar Index failed to capitalise on a stellar job report as healthy risk appetite weighed on it; however, it closed with a gain of 0.06% at 104.29 Friday and was down by roughly 0.20% on the week.

US on high alert as Iran-Israel shadow war spurs chance of wider Middle east row The bloodiest-ever Gaza war began on October 7 with an unprecedented attack by Hamas militants resulting in the death of 1,170 Israelis. Thereafter, Israel relentlessly bombarded Gaza by air, land, and sea, killing at least 33,137 people, mostly women and children so far. Israel says that around 250 of its citizens and foreigners were taken hostage by militants on October 7.

war that reaches the half-year mark on Sunday. The attempt comes after Israel made a rare admission of wrongdoing during its war against Hamas militants in Gaza. The military said it was firing two officers for the killing of seven aid workers — most of them Westerners — in the territory where humanitarians say famine is imminent.

As the Magnificent Seven are downgraded to the Fab Four, perhaps the list of leading tech stocks should include an old-school name: Exxon Mobil. The oil company’s shares would come in fourth in the septet this year with a rise of 21%, after Nvidia and Meta and very close to Amazon. Behind Exxon’s surge to a new high on Friday is an important shift in the market, a new narrative that investors would be wise to pay close attention to—in case it changes again.