#west_asia

MCX gold prices rise 2% to ₹147,978/10 grams; silver rebounds more than ₹7,000 amid mixed cues over West Asia conflict Gold and silver prices surged on the Multi Commodity Exchange (MCX) on Friday, March 20, 2026, following a two-day market-wide selloff driven by geopolitical tensions in West Asia. The rally came as investors shifted focus from the Middle East conflict to U.S. monetary policy and global economic indicators. Gold and silver prices climbed sharply in the early trading hours, with gold rising 2.09% and silver rebounding over ₹7,000 per kilogram. As of 9:18 a.m., MCX gold prices increased by ₹3,024 to ₹147,978 per 10 grams, up from ₹144,954 at the previous day’s close. Silver prices surged ₹7,085 to ₹238,545 per kilogram, compared to ₹231,460 at the prior market close. Analysts attributed the rebound to renewed investor interest in safe-haven assets amid escalating tensions in the Middle East, which had previously triggered a selloff in precious metals. The global gold market also saw gains, with COMEX gold prices rising 2.59% to $4,725.10 per ounce, following a dip to $4,635.80 during Thursday’s trading. The U.S. dollar’s mixed performance further influenced gold’s trajectory. The Bloomberg US Dollar Spot Index edged up 0.20% to 99.4260, though it had previously traded near the 100 mark. Analysts noted that the dollar’s inverse relationship with gold meant a slight decline in U.S. currency could boost demand for the metal. The conflict in West Asia, particularly the U.S.-Iran tensions, played a pivotal role in shaping investor sentiment. Crude oil prices also fluctuated, cooling to $105 per barrel after Israeli Prime Minister Benjamin Netanyahu clarified that the U.S. was not involved in recent attacks on Iran’s natural gas reserves.#iran #benjamin_netanyahu #multi_commodity_exchange #u_s #west_asia

Adani Total Gas Shares Drop After Price Cut for Industrial Users Adani Total Gas (ATGL.NS) shares fell sharply on March 17 as the company reduced its excess gas price for industrial users to ₹82.95 per standard cubic meter (SCM), down from ₹119.90. The price cut, which represents a 30% reduction, followed softer upstream pricing amid supply constraints in West Asia. The stock closed at ₹522.05, down 7.75%, extending a two-day decline of about 13% after a previous rally. Analysts suggest the move aims to stabilize allocations while maintaining industrial demand. The price adjustment aligns with declining upstream costs and tighter global supply conditions in the region. While the cut may support volumes in sectors like Morbi ceramics and Surat textiles, it could also compress near-term industrial margins. Allocations appear more stable, potentially reducing reliance on spot markets and mitigating volatility. However, the stock’s sharp decline reflects cautious sentiment, with traders closely monitoring further price changes or supply-related news. Technical indicators show the stock trading near key levels. The intraday low reached ₹514.10, while the high hit ₹604.30. The relative strength index (RSI) at 49.18 indicates a neutral stance, with resistance near the 50-day moving average at ₹531.35 and the 200-day moving average at ₹598.68. Bollinger mid-band near ₹518.23 acts as a pivot, with support levels around ₹518 and ₹505. The stock’s high trading volume—1.83 crore shares versus an average of 23.11 lakh—signals strong participation, though elevated daily swings and a strong ADX reading of 30.75 suggest continued volatility. Fundamentally, the company’s trailing twelve months (TTM) earnings per share (EPS) stand at ₹5.83, with a price-to-earnings (P/E) ratio of 89.55. Net margins are at 11.#west_asia #adani_total_gas #morbi_ceramics #surat_textiles #industrial_users

Shipping Firms Halt Rate Quotations for Large Vessels Amid LPG Shortage Nagpur: The ongoing West Asia crisis has led to a significant disruption in the shipping industry, with major firms ceasing to provide rate quotations for large vessels transporting crude oil and liquefied petroleum gas (LPG). Industry insiders indicate that this shortage of vessels is exacerbating the challenges of securing reliable supply chains for essential commodities like cooking gas. Even for companies seeking to source LPG from regions outside West Asia, the scarcity of available ships is creating logistical hurdles. Under time charter agreements, which typically involve long-term rentals of ships for periods ranging from a year to several years, the availability of vessels has become increasingly constrained. Some companies are now offering ships on a voyage basis, but the associated costs have surged dramatically. This has delayed efforts to diversify LPG supply routes, according to industry sources. Currently, over 3,000 ships are reportedly stranded at the Strait of Hormuz, further complicating the situation. The US has emerged as a potential alternative source for LPG, but the logistics of sourcing from there present significant challenges. A single ship from the US would not suffice, as companies require at least four vessels operating simultaneously to maintain monthly supply levels. The transit time for a ship to reach India is approximately 28 days, a source noted. While around 40 large ships are currently en route to the US, their final destinations will determine whether they can contribute to India’s LPG needs. The financial burden of securing ships has also escalated. Time charter rates, which typically range from $35,000 to $37,000 per day, have now surged to as high as $100,000.#us #strait_of_hormuz #west_asia #lpg #shipping_firms

LPG shortage affects the commercial sector, Sonam Wangchuk released from Jodhpur jail, and more: The week in 5 charts The LPG shortage in India, triggered by the ongoing conflict in West Asia, has severely impacted the commercial sector, disrupting operations for hotels, restaurants, and other businesses. Reports indicate that many establishments have reduced their menus or temporarily closed due to the scarcity of cooking gas. Non-domestic LPG consumption has grown significantly, with a 29.1% increase in the packed segment (19 kg cylinders) between January 2025 and January 2026, driven by price reductions. Commercial LPG accounts for 10-13% of total domestic consumption, highlighting its critical role in the economy. The price of a 14.2 kg LPG cylinder rose by ₹60 in major cities as oil companies adjusted for higher energy costs linked to the West Asia crisis. Despite the shortage, commercial LPG distribution has resumed across all states and union territories, with authorities intensifying raids and inspections to combat hoarding and black-market activities. Two Indian vessels carrying LPG from Gulf countries successfully navigated the Strait of Hormuz on March 14, 2026, marking the third such safe passage through the war-torn waterway. Climate activist Sonam Wangchuk was released from Jodhpur Central Jail on March 14, 2026, after the Union Ministry of Home Affairs revoked his 170-day detention under the National Security Act (NSA). Wangchuk, who had been held since September 26, 2025, was detained following police action on protests in Leh that resulted in four civilian deaths and over 90 injuries. The NSA allows for detention without trial, citing threats to national security or public order.#strait_of_hormuz #west_asia #union_ministry_of_home_affairs #jodhpur_jail #national_security_act

Benchmark Indices Slip 2% as Crude Oil Prices Remain High The benchmark indices fell by 2% on Friday, March 13, 2026, amid sustained high crude oil prices. The Nifty 50 declined to 23,151.10, while the Sensex dropped to 74,563.92, marking a broad-based decline across all sectoral indices. The Nifty opened at 23,462.50, briefly reaching 23,492.40 before slipping to 23,112.00 by the day’s close. Sectoral indices fell as much as 4.8%, with Nifty Metal and Nifty PSU leading the decline at 4.8% and 3.7%, respectively. The drop was driven by rising crude oil prices, which remained elevated, alongside the rupee hitting a fresh low of 92.3 against the U.S. dollar. Foreign institutional investors (FII) also sold ₹52,704 crore worth of equities in a single day, the highest such outflow since January 2025, when the monthly sell-off totaled ₹78,027 crore. Analysts attributed the market volatility to ongoing geopolitical tensions in West Asia, which continue to disrupt the energy sector and push crude oil prices higher. Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services Ltd., noted that market volatility is expected to persist in the near term. He highlighted that developments in West Asia, fluctuations in crude oil prices, and trends in foreign fund flows will remain critical factors influencing the market. The uncertainty surrounding shipping routes through the Strait of Hormuz further heightened risk sentiment, keeping investors cautious. The decline in indices reflects the interconnected challenges facing the market, including energy price pressures, currency weakness, and capital outflows. These factors underscore the sensitivity of financial markets to global economic and geopolitical dynamics, particularly in the context of a fragile recovery.#strait_of_hormuz #sensex #nifty_50 #west_asia #motilal_oswal_financial_services_ltd

Adani-Total Gas cuts price for certain industrial users Adani Total Gas Ltd has reduced the price of excess natural gas supplied to specific industrial customers, lowering the rate from Rs 119.90 per standard cubic metre (SCM) to Rs 82.95 per SCM. The adjustment, effective from 0600 hours on March 16, 2026, follows a decline in upstream gas prices amid ongoing supply disruptions. The company stated the change aims to pass on cost savings to customers while ensuring system stability and equitable gas distribution during current supply constraints. The price cut comes after India’s liquefied natural gas (LNG) supplies faced disruptions due to the halt in ship movements through the Strait of Hormuz, a consequence of the war in West Asia. This led to requests for commercial and industrial users to reduce consumption to 40 per cent of their contracted volumes. While the revised pricing applies to excess gas, rates for the standard segment remain unchanged. In a communication to users, Adani Total Gas noted the revised excess gas price, which was previously announced on March 3, 2026. The company emphasized its commitment to balancing cost reductions with maintaining operational stability. The decision reflects the broader impact of global supply chain challenges on energy pricing and distribution in India. The move underscores the company’s efforts to mitigate the effects of upstream cost reductions while addressing the immediate challenges posed by LNG supply constraints. It also highlights the interconnectedness of regional geopolitical events with energy markets, as disruptions in key shipping routes directly influence pricing and availability for industrial consumers.#india #natural_gas #strait_of_hormuz #west_asia #adani_total_gas

Stock markets tumble for 3rd day as West Asia turmoil, rising oil prices weigh heavily on sentiments Stock market benchmark indices Sensex and Nifty ended sharply lower on Friday, driven by escalating tensions in West Asia and a surge in oil prices. The decline marked the third consecutive day of losses, with investor sentiment further dented by heavy global selling, persistent outflows of foreign capital, and a weak rupee. The 30-share BSE Sensex fell 1,579.82 points, or 2%, to 74,454.60 during intraday trading before closing at 74,563.92, a drop of 1,470.50 points, or 1.93%. The 50-share NSE Nifty declined 488.05 points, or 2.06%, to 23,151.10. Hindustan Unilever and Bharti Airtel were among the few gainers. Brent crude, the global oil benchmark, rose 0.25% to $100.7 per barrel, adding pressure on equity markets. Asian indices such as South Korea’s Kospi, Japan’s Nikkei 225, China’s SSE Composite, and Hong Kong’s Hang Seng all closed lower. European markets were also in negative territory. Foreign Institutional Investors (FIIs) sold equities worth ₹7,049.87 crore on March 12, while Domestic Institutional Investors (DIIs) bought stocks worth ₹7,449.77 crore. The Sensex had already dropped 829.29 points, or 1.08%, to 76,034.42 on March 12, and the Nifty fell 227.70 points, or 0.95%, to 23,639.15. The ongoing geopolitical tensions in West Asia, coupled with rising energy costs, have created uncertainty, prompting investors to retreat from riskier assets. Analysts noted that the combination of these factors, along with weak domestic currency performance, has exacerbated market volatility.#nifty #brent_crude #sensex #west_asia #fiis

Menus shrink, queues grow: How LPG shortage worry is taking over Delhi, Mumbai, Bengaluru, other Indian cities The shortage is linked to the escalating conflict in West Asia, which has disrupted energy supply routes globally, sparking worry in India amid an LPG crunch. The situation has led to visible shortages in major cities, with households and businesses facing difficulties in accessing liquefied petroleum gas. Reports indicate that the crisis has forced many families to ration their gas usage, leading to longer wait times at distribution centers and reduced availability of cooking fuel. In Delhi, Mumbai, and Bengaluru, residents have reported standing in long queues at LPG refill points, with some unable to secure their monthly quotas. The shortage has also impacted small businesses reliant on gas for operations, further straining the local economy. Analysts warn that the ongoing geopolitical tensions in the region could prolong the crisis, compounding existing challenges in meeting domestic energy demands. The Indian government has acknowledged the issue, but experts suggest that immediate measures are needed to stabilize supply chains and prevent further disruptions.#delhi #mumbai #bengaluru #indian_government #west_asia

LPG shortage: Bought a Rs 9,000 commercial induction cooktop for Rs 23,000, says Mumbai restaurateur The ongoing conflict in West Asia has disrupted India’s LPG supply chain, forcing many households and businesses to switch to induction cooking. However, even this alternative is becoming increasingly difficult to access as shortages escalate. Retailers and online platforms are reporting a surge in demand, with stock of induction cooktops disappearing rapidly. The crisis has driven prices to unprecedented levels, with some customers paying nearly three times the original cost for basic models. The Strait of Hormuz, a critical chokepoint for global oil trade, has been a focal point of the conflict, disrupting the flow of LPG imports to India. Approximately 85-90% of the country’s LPG supply passes through this region, leading to severe shortages. As a result, many consumers are turning to the black market, where prices for LPG cylinders have skyrocketed. Meanwhile, those connected to the PNG (Piped Natural Gas) network have remained unaffected, relying on a stable supply. The situation has prompted panic buying and hoarding, with reports of individuals purchasing multiple induction cooktops in a single transaction. A Mumbai-based restaurateur, Omkar Kandharkar, shared his experience of paying Rs 23,000 for a commercial induction cooktop that was originally priced at Rs 9,000. “I thought the shortage would be temporary, but the situation has worsened. When I went to buy the cooktop, it was already priced at Rs 23,000,” he said. Delhi NCR resident Shreya Wadhwani described the frustration of trying to secure an induction cooktop during the crisis. “I panicked and checked quick commerce platforms, but the product was out of stock on multiple sites,” she said.#strait_of_hormuz #west_asia #omkar_kandharkar #shreya_wadhwani #hardeep_puri

Amid West Asia scare, induction cooktop sales surge online Sales of induction cooktops have spiked on e-commerce platforms as consumers seek alternatives to cooking gas amid fears of supply disruptions in West Asia. Walmart-controlled Flipkart reported a tripling of sales over the past four to five days compared to the previous three to four weeks, while Amazon saw demand surge by up to 20 times in the last 24 hours, according to company spokespersons. The surge has been driven by concerns over potential shortages of liquefied petroleum gas (LPG) and liquefied natural gas (LNG), with many households treating induction cooktops as a survival necessity rather than a luxury. Flipkart noted that areas like Delhi, Kolkata, and Uttar Pradesh experienced particularly sharp increases in demand. “The prevailing global conditions have transformed induction cooktops from a kitchen upgrade into a survival necessity for many households,” the company stated, highlighting rising costs and physical shortages of LPG as key factors. Quick commerce platforms such as Swiggy Instamart, Blinkit, and Zepto also reported significant spikes, with one executive noting a 10-fold increase in sales over the past week. Tata Group’s BigBasket saw a fivefold rise in induction cooktop sales since Monday, prompting the company to revise its monthly forecast to three times the original estimate. The demand surge has had a noticeable impact on stock markets, with Borosil Ltd shares rising 11%, Hawkins Cookers closing 4.2% higher, and TTK Prestige ending nearly 7% up. Analysts and industry players have pointed to the growing reliance on induction cooktops as a direct response to the uncertainty surrounding gas supplies, particularly in light of geopolitical tensions in the region.#kolkata #delhi #flipkart #amazon #west_asia

LPG Shortage Crisis in India: Hotels and Restaurants Struggle Amid Global Supply Disruptions The ongoing conflict in West Asia has triggered a severe shortage of commercial LPG cylinders, causing significant challenges for hotels and restaurants across India. On March 11, 2026, many establishments reported difficulties in obtaining supplies as oil marketing companies rationed gas amid disrupted supply chains. The government has prioritized domestic cooking gas for households, leaving commercial users like restaurants and hotels facing a critical shortage. State hotel associations have urged governments to ensure uninterrupted supply of LPG cylinders, citing the impact on the hospitality sector. The crisis has been exacerbated by the war between Iran and the U.S.-Israel alliance, which has disrupted global fuel supplies, including India’s LPG imports. To address the issue, the government formed a three-member committee to tackle grievances and prioritize domestic LPG distribution. Reliance Industries announced plans to boost cooking gas production at its Jamnagar refinery and divert gas from the Bay of Bengal KG-D6 fields to the priority sector. This move aims to mitigate the effects of the West Asia conflict on India’s energy infrastructure. Meanwhile, panic buying of LPG cylinders occurred in Lakhimpur Kheri, Uttar Pradesh, as rumors of supply disruptions spread. Despite assurances from officials that supplies remain adequate, customers rushed to distribution centers to secure cylinders. In Mumbai, the shortage has forced 20% of eateries to shut down, with fears of further closures as tensions with Iran and Israel escalate. The situation has also affected Goa’s tourism industry, where restaurants face closure threats.#iran #mumbai #us_israel_alliance #west_asia #lakhimpur_kheri

West Asia conflict raises fears of LPG shortage among Bengaluru auto drivers The ongoing conflict in West Asia has sparked concerns among Bengaluru autorickshaw drivers about potential shortages and price hikes of liquefied petroleum gas (LPG), which is the primary fuel for the majority of the city’s autorickshaws. Drivers’ unions have warned that disruptions in global supply chains could soon affect fuel availability, leading to operational challenges and inconvenience for commuters. According to T.M. Rudramurthy, general secretary of the Auto Rickshaw Drivers Union (ARDU), the city’s reliance on LPG makes drivers particularly vulnerable to any fluctuations in supply or pricing. He noted that while a small number of autorickshaws use compressed natural gas (CNG) and a few have transitioned to electric vehicles, the vast majority still depend on LPG. Rudramurthy highlighted that if the conflict disrupts fuel imports, it could directly impact auto services across Bengaluru. Drivers are already paying nearly ₹79 per litre at some fuel stations, with prices varying between outlets. He warned that if supply becomes uncertain, hundreds of drivers could face operational difficulties, further complicating daily commutes for passengers. Rajendra Kumar, an autorickshaw driver from Kamakshipalya, echoed these concerns. He stated that drivers have little room for error if supplies tighten. “Unlike petrol or diesel, we cannot stock up on LPG. I have barely two litres left in my vehicle and it will run out by today,” Kumar said on March 10. He added that queues are already forming at some fuel stations, and rising prices have added to the strain. Kumar urged the government to intervene promptly to ensure uninterrupted fuel supply.#bengaluru #west_asia #auto_rickshaw_drivers_union #tm_rudramurthy #rajendra_kumar

India Has 50 Days of Fuel Reserves Amid West Asia Crisis India currently has sufficient crude oil and petroleum product stocks for around 50 days, according to government sources, as tensions in West Asia disrupt global energy routes. The statement comes amid growing concerns over the stability of energy supply chains in the region, which have been further complicated by geopolitical conflicts and logistical challenges. Officials emphasized that the country’s strategic reserves are designed to mitigate the impact of such disruptions, ensuring continuity in energy supply for both industrial and domestic needs. The government’s assertion highlights the importance of maintaining robust stockpiles in the face of regional instability. Analysts note that while India’s domestic production has increased in recent years, reliance on imported crude oil remains significant. The 50-day reserve is intended to provide a buffer against potential short-term supply shocks, though long-term vulnerabilities persist. Experts caution that the situation underscores the need for diversifying energy sources and strengthening infrastructure to reduce dependency on volatile international markets. The context of the statement is tied to ongoing tensions in West Asia, where conflicts have disrupted key shipping lanes and raised fears of prolonged supply chain disruptions. India, as a major importer of crude oil, has been closely monitoring developments in the region. The government’s emphasis on stockpiles reflects a proactive approach to safeguarding energy security, particularly as global energy prices remain volatile. While the 50-day reserve provides temporary relief, officials acknowledge that challenges such as the LPG (liquefied petroleum gas) supply issue continue to pose concerns.#government #india #west_asia #energy_supply #lpg

Paras Defence shares jump 13% amid West Asia tensions; co announces semiconductor foray Shares of Paras Defence and Space Technologies surged as much as 13% on Monday, March 2, amid heightened geopolitical tensions in West Asia that have escalated into a broader regional conflict. The rise in stock prices coincided with increased investor interest in defence-related stocks, driven by concerns over regional instability and the potential for higher demand for military equipment and its components. The latest escalation in tensions involved exchanges between Israel and Hezbollah following reports of retaliatory strikes linked to Iran's Supreme Leader. This development has amplified fears of further conflict, prompting investors to seek opportunities in sectors perceived as benefiting from such scenarios. Defence stocks often experience heightened activity during periods of geopolitical uncertainty, as demand for critical military technologies and infrastructure is expected to rise. In a separate development, Paras Defence announced its entry into the semiconductor industry by establishing a new subsidiary, Paras Semiconductors Pvt Ltd. The company will hold a 70% equity stake in the unit, which plans to set up an advanced facility specializing in heterogeneous packaging and 3D packaging OSAT. OSAT, or outsourced semiconductor assembly and testing, is a key segment of the chip manufacturing process. The subsidiary aims to focus on applications in artificial intelligence, high-performance computing, networking, and data centres. The combination of geopolitical factors supporting defence stocks and the company's strategic move into high-tech semiconductor packaging has kept the stock in focus.#hezbollah #west_asia #paras_defence #paras_defence_and_space_technologies #paras_semi_conductors_pvt_ltd