&w=3840&q=100)
How to trade HPCL, BPCL, ONGC as Crude Oil boils to 5-month high at $77/bbl
Rex Cano Mumbai
Listen to This Article
Shares of Crude oil-related companies were in focus on Friday following a near 12 per cent surge in the US WTI Crude Oil futures after Israel launched a pre-emptive strike on Iran. Israel's Defense Minister Israel Katz said on Friday that Israel launched a "pre-emptive strike" on Iran. According to reports, Israel launched an attack on nuclear sites in Iran, killing some of the top military officials and scientists. In response to the attack, Iran's Supreme Leader Ayatollah Ali Khamenei has warned that Israel will face "a severe punishment". READ MORE Reports suggested that the
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
a minute ago
- Mint
Indian benchmark shares rise for fifth straight session on IT, consumer gains
(Reuters) -India's equity benchmarks rose for a fifth straight session on Wednesday as tech stocks rallied ahead of the Federal Reserve's Jackson Hole symposium and as consumer shares gained on hopes of a demand boost from the proposed tax reforms. The Nifty 50 added 0.28% to 25,050.55, while the BSE Sensex rose 0.26% to 81,857.84. Both benchmarks have added about 2.3% and 2%, respectively, in five sessions. Optimism over the proposed goods and services tax (GST) reforms, easing India-China trade concerns, and S&P's upgrade of India's sovereign outlook have all buoyed market sentiment, said Gaurav Garg, analyst at Lemonn Markets Desk. On the day, nine out of 16 major sectors advanced. The broader small-cap and mid-cap indices rose 0.3% and 0.5%, respectively. IT stocks, which earn a significant share of revenue from the U.S., climbed 2.7% ahead of the Federal Reserve's Jackson Hole symposium on Aug. 21-23. Investors widely expect a 25-basis-point Fed rate cut next month, a move that is seen supporting U.S. growth and reviving client spending for Indian technology firms. "A dovish tone from Fed Chair Jerome Powell could provide a positive trigger for Nifty and offset negative sentiment surrounding tariff developments," said analysts led by Dharmesh Shah of ICICI Securities. Consumer shares rose 1.4%, taking their three-session gains to 3.7%, on expectations that lower GST rates will boost demand and earnings. Financials slipped 0.4%, limiting the benchmarks' advance. Gaming-linked firms Nazara Tech and Onmobile Global fell 12.9% and 3.4%, after Reuters reported India planned to ban online money-based games. Micro-irrigation stocks such as Jain Irrigation and Mahindra EPC climbed 2.4% and 17.8% on hopes of zero GST on farm equipment. Fertiliser makers Chambal Fertilisers, Rashtriya Chemicals and Paradeep Phosphates extended gains, jumping between 2.3% and 5.4%, on improved supply prospects from talks with China. Sula Vineyards gained 2.5% after CNBC-TV18 reported the winemaker is looking to enter the premium spirits market. (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sumana Nandy and Janane Venkatraman)
India Today
14 minutes ago
- India Today
If West criticises you...: Russia backs India amid US sanctions for oil imports
Russia has sent a clear message of support to India, asserting that Western criticism is often a sign of doing the right thing, and reaffirming that India is unlikely to halt its purchases of Russian oil despite US tariffs. Roman Babushkin, Charge d'Affaires of the Russian Embassy in India, said at a press briefing that India's strategic partnership with Moscow remains strong even amid pressures from the under challenging circumstances, we do not expect India to stop buying Russian oil," Babushkin said, referring to recent US measures that include a 25 percent tariff on Indian goods and an additional 25 percent levy on purchases of Russian added, "If the West criticises you, it means you are doing everything right." Babushkin noted that the positive outcomes of President Putin's recent visit to the US include reports that President Trump has decided not to impose additional tariffs on India. The Russian envoy also offered India an alternative market for its exports, noting that should Indian goods face difficulties entering the US, "the Russian market is welcoming Indian exports".He criticised the West for what he described as "neocolonial behaviour", saying unilateral sanctions and pressures risk disrupting supply chains, destabilising markets, and endangering energy security in developing emphasised that Russia is the largest producer of oil and India the largest consumer, adding that unilateral actions can imbalance pricing policies and global underscored that even a hypothetical refusal by India to buy Russian oil would not guarantee better cooperation with Western powers, which, he said, act primarily in self-interest."Hypothetically, if India refuses Russian oil, it will not lead to equal cooperation with the West because it is not in the Western nature," he said, highlighting that Western pressure on India is "unjustified and unilateral".The comments come amid rising tensions in India-US trade relations, with New Delhi describing the tariffs as "unjustified and unreasonable".Moscow, he said, has a "very, very special mechanism" in place to maintain consistent crude supplies to India, reflecting the depth of their bilateral envoy further highlighted that Russia and India have successfully expanded trade over recent years, with trade reportedly growing sevenfold despite sanctions, and that President Vladimir Putin values India highly, as evidenced by a recent phone call to Prime Minister Narendra Modi explaining developments in stressed that the relationship is a "true strategic partnership" and that Moscow is committed to resolving any challenges for mutual satisfaction. He confirmed that Putin is expected to visit India by the end of the year and also noted that India will receive the remaining S-400 missile system "according to the schedule".- EndsMust Watch
Time of India
31 minutes ago
- Time of India
Trump is pushing India to China but can it offset cost of friction with US?
Trump is pushing India to China but can it offset cost of friction with US? Team TOI Plus Updated: Aug 20, 2025, 15:41 IST IST With Washington's tariffs over Russian oil squeezing India, Modi is eyeing stability with Xi as trade flows restart. That's welcome news but at the same time it sharpens India's foreign policy dilemma With relations with the United States under strain, Prime Minister Narendra Modi has welcomed a fresh opening in India-China relations, calling them 'steady' and 'guided by respect for each other's interests'. This comes ahead of Modi's planned visit to China later this month — his first trip in seven years to attend a regional security summit meeting in the northeastern city of Tianjin. — where he will meet Chinese President Xi Jinping. Besides Xi, Russian President Vladimir Putin will also attend, bringing together three leaders at odds, to varying degrees, with the United States.
