Strait Talk: Crude Tops $93, LPG Prices Hiked, and Nifty Navigates the Fallout
Good morning, it’s March 9, 2026, and here’s your headstart to the day’s most important update.
Top Domestic News
Forex Reserves: Jumped to record $728.49 billion, largely driven by a sharp rise in gold reserves by $4.14 billion. Read
Fuel: Domestic LPG price hiked by Rs 60, commercial LPG cylinder up Rs 115 amid Iran tensions. Read
RBI: Proposed new rules to protect customers from digital banking fraud starting from July 1. Read
Stocks in Focus
Positive
Reliance Industries: Shares rose almost 2.5% after the US gave India a 30-day waiver to purchase Russian oil. Read
IRCON International & RVNL: Shares jumped over 12% and 6.5% respectively after reports of a merger consideration. Read
Radico Khaitan: Globus, United Spirits, UB and other liquor stocks rose up to 8% after the Karnataka government announced an overhaul of its 60-year-old excise policy. Read
Fractal Analytics: Shares rose nearly 7% after Q3 net profit rose 8.5% to Rs 100 cr. Read
SBI: Launched a $500 million social loan facility to boost women’s economic empowerment. Read
Negative
Meesho: Received a Rs 1,500 cr income tax demand for FY24, the company to challenge order. Read
Source: Trading Economics & Yahoo Finance
(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)
Top Global News
US: Non-farm payrolls unexpectedly fell by 92,000 in February, unemployment rate rose to 4.4%. Read
Crude Oil: Prices topped $93 a barrel, highest level in more than years, after Qatar warned all Gulf production could stop within days. Read
US: Announced a $20 billion reinsurance program for oil tankers, aimed at reviving shipping in the Strait of Hormuz. Read
Daily FII/ DII - Previous 20 Sessions
Source: Moneycontrol,NSE
IPOs This Week
Startup Talks
Flipkart: Laid off around 300 employees as part of its annual performance review cycle. Read
Bonkers Corner: The clothing brand raised Rs 95 cr in Series A round led by India SME Investment Fund. Read
Rozana: Rural commerce startup has raised Rs 290 cr in Series B round led by Bertelsmann India Investments. Read
Other News
BARC: TV rating agency has been directed to suspend news channels’ TRPs for four weeks, citing concerns over “sensationalism” of ongoing conflict. Read
Karnataka: First Indian state to ban social media for children under 16, joining international push to limit minors’ digital exposure. Read
Vanguard: To rollback partnership with Infosys and reabsorb employees who were part of the collaboration arrangement. Read
BlackRock: Limited withdrawals from its $26 billion debt fund after a surge in redemption requests, shares fell almost 7%. Read
“Now over to you! What was your biggest takeaway? Let’s discuss in the comments. Don’t forget to share this with anyone else who needs to hear it!”