Tensions in West Asia continue to dominate market concerns as Iran has labeled the US response to its proposal for reopening the Strait of Hormuz as “insufficient.” This raises doubts about efforts to restore normal shipping through the vital oil route. Iran’s security chief, Mohsen Rezaei, was quoted by state media stating that the US reply, conveyed through Qatari intermediaries, did not meet their expectations.
Crude oil prices remain volatile amid ongoing attacks on Saudi Arabia and commercial vessels. Brent crude is currently trading around $103.50 a barrel after giving up early gains. Traders are closely monitoring the situation for any signs of a broader escalation in the conflict, which could further disrupt oil supplies.
Meanwhile, Apple is preparing a significant push into smart-home technology. The company is set to unveil a new smart home hub, an updated HomePod mini, and a new Apple TV at an upcoming event. This move marks Apple’s long-awaited entry into the smart home market.
In Indian equities, Motilal Oswal has forecasted a 73% upside for Suzlon Energy, while IRB Infrastructure has raised its FY27 toll collection growth guidance to 22%-24%, sparking renewed investor interest. Additionally, gold and silver prices have edged higher as investors await US inflation data and further signals from the Federal Reserve. Kotak Securities predicts the rupee could strengthen to ₹94.50 against the dollar in the near term.