Indian markets closed higher amid easing geopolitical tensions in West Asia, with the BSE Sensex gaining around 500 points and the Indian rupee strengthening by 29 paise to 92.85 against the US dollar
Banking Q4 Earnings Surge
Major private banks reported strong March quarter results for FY26. HDFC Bank’s net profit rose 9.1% to Rs 19,221 crore, with a Rs 13 per share dividend declared, while ICICI Bank’s profit increased 9% to Rs 13,702 crore on lower provisions.
Yes Bank led with a 44-45% profit jump to Rs 1,068 crore, driven by 16% higher net interest income and improved asset quality.
Strait of Hormuz Tensions Impact Shipping
Iran reimposed controls on the Strait of Hormuz amid US naval blockade, forcing eight India-bound ships to turn back and causing LNG tankers to U-turn. The conflict has led to $50 billion in global oil losses over 50 days, raising freight costs and energy risks for India.
India launched a Rs 12,980 crore Bharat Maritime Insurance Pool with sovereign guarantee to shield vessels from such disruptions.
Market Outlook and Commodities
Aluminium prices hit record highs due to supply constraints and strong China demand, while Bitcoin reached a two-month peak near $78,000 on de-escalation hopes. Defence and metal stocks showed breakouts, but analysts advise buy-on-dips amid volatility.
Gold and silver prices surged ahead of Akshaya Tritiya, with silver up 160% year-over-year; experts favor diversified holdings like ETFs over physical assets.
Policy Boosts for Economy
The Union Cabinet approved a 2% DA hike for government employees from January 2026 and a Rs 13,800 crore Sovereign Maritime Fund for vessel insurance. Goldman Sachs forecasts global GDP growth at 2.8% for 2026, with US outperforming at 2.6%.