Iran-Israel news: IndiGo issues fresh advisory amid Middle East crisis, flights resume in Qatar
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Published 24 Jun 2025, 07:32 AM IST Mint Image
Iran-Israel news: IndiGo issues fresh advisory amid Middle East crisis, flights resume in Qatar
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The Hindu
2 hours ago
- The Hindu
Too soon to sound the ‘all clear' on the risk of rising oil prices: Finance Ministry report
It is too soon to sound the 'all clear' on the risk of rising oil prices, even though the risk from the Israel-Iran conflict has receded following the ceasefire between the two countries, the Ministry of Finance said in a report. According to the Monthly Economic Report (MER) for May 2025 released by the Department of Economic Affairs on Friday (June 27, 2025), the Israel-Iran war could have threatened India's growth and fiscal outlook for the current financial year 2025-26. However, the two countries agreed to a ceasefire earlier this month and oil prices have since fallen by about 6-7%. Explained | Why oil prices are increasing amidst Iran-Israel tensions 'There is an ample global supply of oil, but insurance costs and the perceived risk of potential closure of choke points might cause the landed price to rise,' the report warned. 'Therein lies the risk to India. For now, the risk has receded.' 'But, it is too soon to sound the 'all clear' for the rest of the year,' it added. 'But, then, we have to get used to doing the balancing act or the high-wire act for some time to come. In this, India is on a better footing than many other nations.' The Department of Economic Affairs report said that the Indian economy may experience 'nervous but exciting times' in the days ahead. Also Read | The ongoing oil price tensions Overall, the report noted that with no major factors leading to an imbalance in the country's macroeconomic aggregates, a subdued inflation rate and a 'growth-supportive monetary policy stance', India's macroeconomic health is in a 'relative goldilocks situation'. While highlighting the 6.5% growth real GDP growth estimate 2024-25, the report said that the first two months of 2025-26 also point to resilience in economic activity. 'High-frequency indicators such as e-way bill generation, fuel consumption, and PMI indices point to continued resilience,' the report said. 'Rural demand has strengthened further, supported by a healthy rabi harvest and a positive monsoon outlook.' Explained | How will Israel-Iran conflict impact India? Urban consumption, it added, was being bolstered by increased leisure and business travel, as seen from the rise in air passenger traffic and hotel occupancy. However, it also pointed out that there are signs of softening of demand in areas like construction inputs and vehicle sales.
Mint
6 hours ago
- Mint
ACC to TVS Motor -Jay Thakkar suggests three stocks to buy for short-term in F&O segment
Stock market news: Indian stock indices maintained an upward trend for the fourth consecutive session, bolstered by favorable global cues, relative calm regarding the Israel-Iran conflict, and the potential extension of the tariff deadline set for July 9 by the US government. A spokesperson from the White House suggested on Thursday that the reciprocal tariff deadline might be postponed, but emphasized that the final decision rests with President Donald Trump. Meanwhile, President Trump indicated that a "great deal" involving India is forthcoming, which has improved investor confidence. The Indian negotiation team is currently in the United States working on a trade agreement. India's robust domestic fundamentals, an agile RBI, and favorable monsoon conditions are supporting the financial markets. With US markets reaching record highs and the US dollar weakening, emerging markets such as India are expected to gain. The Sensex concluded the day at 84,058 points, rising by 303 points, while the Nifty 50 finished at 25,637 points, up by 89 points. Nifty 50 has provided a clean breakout from the sideways consolidation; thus, the short-term trend is bullish. The June series ended on a positive note as Nifty 50 closed above 25,300 levels and the FIIs also reduced their short positions on the Index to quite an extent i.e. from over 1 lakh to merely 35,000 contracts , they also had bought huge in the equity cash segment of over 12,500 crores. So, the short covering coupled with strong buying in equity cash segment led to a clean breakout and thus the uptrend has been established. There was strong call writing in the range of 25,200-25,300 prior to the breakout, hence this range now becomes an immediate support, whereas, 26,000 to 26,300 are the short to medium term targets. The Bank Nifty has also provided a clean breakout above 56,500 levels, thus the supporting Nifty 50 to inch higher. Jay Thakkar of ICICI Securities recommends TVS Motor Futures, Mahanagar Gas Futures, and ACC Futures. TVS Motor has provided a breakout from the sideways consolidation with a clear long built up, indicating further uptrend in the stock. The stock has been one of the outperformers in the two-wheeler segment and hence the upside probability seems higher. There has been good put additions at the lower levels as well as call unwinding indicating good upside possibility. Currently, the stock is trading above its max pain and modified max pain level as well as its 20-day VWAP levels, hence the short-term trend appears bullish Mahanagar Gas had seen huge short built in the previous fall post which the stock managed to bounced back and consolidate. In the entire consolidation period, the stock had witnessed short covering and finally it has provided a breakout from the consolidation which is much positive in the near term. The stock has now moved above its 20-day VWAP as well as its max pain and modified max pain levels, so the upside potential is higher. The cements sector is witnessing good long built up overall and in the case of ACC short covering is expected in the short term as the stock has formed multiple bottoms as well as the sector is in overall uptrend. Although there is higher call base at 1900 and 2000 strikes, however, there is good unwinding of calls below 1900 strike, hence the uptrend has a higher probability in the near term. The stock is also trading well above its 20-day VWAP now as well as its above max pain level. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 27/06/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
Mint
6 hours ago
- Mint
Gold price outlook: MCX gold rate may hit ₹94,000 level as Israel-Iran ceasefire, trade talks dent safe-haven demand
Gold prices on Multi Commodity Exchange (MCX) fell sharply on Friday, tracking losses in the global bullion market, as signs of easing geopolitical tensions in the Middle East with the Israel-Iran ceasefire holding up, and global trade optimism dampened safe-haven demand for the precious metal. MCX gold rate for August futures ended lower by ₹ 1,563, or 1.61%, at ₹ 95,524 per 10 grams. During the session, gold prices hit a low of 94,951, falling by ₹ 2,136, or 2.2%, from its previous close of ₹ 97,087. For the week, MCX gold price slumped 3.61%. MCX silver prices for September futures also declined. The white metal ended down by ₹ 1,468, or 1.36%, at ₹ 1,06,429 per kg. It touched a low of ₹ 1,05,380 during the session. In the international market, comex gold fell over 1.5% to trade below $3,270 per ounce, marking a second straight weekly loss and a nearly 3% decline for the week. 'The slide in gold prices comes as geopolitical risks ease and global trade optimism strengthens, dampening safe-haven appetite. A tentative ceasefire between Israel and Iran held firm, while US Commerce Secretary Howard Lutnick indicated trade frameworks with China and others are nearing completion — fueling risk-on sentiment in markets,' said Jigar Trivedi, Senior Research Analyst at Reliance Securities. Meanwhile, the US dollar dropped over 1.5% to below 97.3, its lowest since February 2022, weighed down by rising expectations of interest rate cuts following US Federal Reserve Chair Jerome Powell's dovish congressional testimony. Gold price next week will be influenced by a slew of factors, including economic data release in the US and European region. 'Key focal points for the coming week include, the progress in US trade talks ahead of the July 9 tariff decision deadline, the ECB Central Bank Forum, with comments expected from top officials including Chair Powell, and US macro data such as Nonfarm Payrolls, ISM Manufacturing & Services PMIs, and trade figures,' Trivedi noted. Gold price is expected to remain under pressure with a bearish bias, according to Jigar Trivedi. 'Comex gold has key support at $3,230 – $3,200 per ounce, while resistance is placed at $3,350 level. MCX gold price for August futures is expected to decline towards ₹ 94,800 – ₹ 94,000 per 10 grams as momentum remains weak,' Trivedi said. Read all Commodity Market news here
