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The Reserve Bank of India (RBI) has declared a key step amid the rupee’s weakening trend, planning a $5 billion USD/INR buy-sell swap auction scheduled for May 26. The 3-year tenor operation aims to inject durable liquidity into the banking system while stabilizing currency pressures. The key decision follows a review of evolving financial conditions.
BJP MP Sasmit Patra urged Finance Minister Nirmala Sitharaman to consider bringing petrol and diesel under the GST framework. He stated that uniform fuel taxation could reduce inflation, and operational costs for businesses and farmers. Patra also highlighted that varying state VAT structures affect market integration, emphasizing the need for a key reforms.
The weakening of the India rupee against the US dollar is highlighting deeper concerns beyond currency fluctuations. Global tensions in the Middle East and increasing crude oil prices have added pressure on India’s economy. Experts believe the falling rupee reflects broader economic and investment challenges rather than just a temporary market decline today.
Cognizant is planning layoffs of 7,000-15,000 employees under its “Project Leap” restructuring, aiming to shift toward an AI-driven business model. The initiative focuses on automation and streamlining operations. While reducing workforce layers, the company plans to invest more in AI and continue hiring talent aligned with digital transformation.
The government approved a 2% Dearness Allowance hike, raising it from 58% to 60%, effective January 2026. While it offers relief against inflation, the actual salary increase is modest-for example, about ₹600 on a ₹30,000 basic pay. Employees and pensioners will also receive arrears, with the hike based on inflation-linked calculations.
Indian markets ended lower, with the Sensex falling 253 points, settling at 77,017.79. While Nifty closed at 24,032.80. Banking, realty, and oil & gas stocks dragged indices amid rising West Asia tensions. US-Iran clashes near the Strait of Hormuz and attacks on regional ships heightened global risk fears, though auto and FMCG sectors outperformed.
Elon Musk has agreed to pay $1.5 million to settle an SEC case over delayed disclosure of his stake in Twitter. The settlement, pending court approval, includes a civil penalty and injunction. The SEC alleged the delay caused investor losses, while Musk’s side termed it a minor filing lapse. The case is separate from ongoing […]
Indian stock markets opened lower as the Sensex dropped 165 points and the Nifty fell near 24,050. These losses were fueled by Middle East tensions and rising oil prices. Meanwhile, the Indian rupee hit a record low of 95.46 against the dollar. Cautious global sentiment and mixed Asian markets further dampened the morning session’s performance.
Bitcoin crossed the $80,000 level on Monday, briefly touching a three-month high around $80,526 before slight profit-taking. The rally was driven by strong ETF inflows and improved investor sentiment. Analysts say institutional demand continues to support prices, with crypto markets gaining momentum and altcoins also rising alongside Bitcoin’s upward trend.
India’s LPG consumption fell 16% in April 2026 to about 2.2 million tonnes, driven by supply disruptions linked to the West Asia conflict affecting imports via the Strait of Hormuz. Household supply was prioritised over commercial users, while global instability also impacted fuel demand trends across diesel, petrol, and aviation sectors.
The Sensex gained 356 points, closing at 77,269.40 and Nifty crossed 24,100 but ended below intraday highs due to weakness in IT and banking stocks amid election volatility. BJP led in West Bengal and Assam, UDF in Kerala, while TVK surged in Tamil Nadu. Mid and small caps rose, realty and metal outperformed, and Brent […]
Here are the prices of 19-kg Commercial LPG cylinders today in top cities in India. ★Delhi: ₹3071, ★Gurgaon: ₹3088, ★Kolkata: ₹3071, ★Mumbai: ₹3150, ★Chennai: ₹3250, ★Bangalore: ₹3250, ★Bhubaneswar: ₹3150, ★Chandigarh: ₹3092, ★HYD: ₹3250, ★Jaipur: ₹3150, ★ Lucknow: ₹3180, ★Patna: ₹3131, ★Trivandrum: ₹3071, ★Nagpur: ₹3071, ★Tirupati: ₹3250, and ★Vizag: ₹3250.
The government has proposed rules to allow higher ethanol-blended fuels like E85 (85% ethanol) and E100 (nearly pure ethanol) in India. This move aims to cut oil imports and boost clean energy use. However, it will require flex-fuel vehicles and new infrastructure, as most current engines are not compatible with high ethanol blends.
The UAE’s exit from OPEC and OPEC+ is expected to reshape global oil trade amid Iran-related tensions and disruptions in the Strait of Hormuz. India may benefit as the UAE can raise output and supply more crude through the Fujairah port and Habshan pipeline, bypassing Hormuz and strengthening energy security and import flexibility.
Sensex rose 609 points and Nifty closed above 24,100, led by FMCG, auto, and realty stocks. ITC, Tech Mahindra, and Maruti were top gainers. Brent crude surged 3.11% to $114.72 per barrel amid US-Iran tensions and UAE’s OPEC exit. MidCap fell 0.13%, while SmallCap gained 0.71%, with Q4 earnings in focus.