Oil prices fell nearly 15% after Iran stated that the Strait of Hormuz is 'completely open,' removing a key risk premium that had been embedded in global crude markets. The Strait of Hormuz is the world's most critical oil chokepoint, carrying roughly 20% of global petroleum supply daily, and any credible threat to its transit had pushed prices sharply higher in preceding sessions. Iran's declaration directly deflated the geopolitical fear driving that premium, triggering a rapid repricing across Brent and WTI futures. The sell-off signals that traders view the closure threat as materially diminished for now, though the underlying tensions between Iran and Western powers that generated the risk premium have not been formally resolved. Energy equities, inflation expectations, and central bank rate calculus all carry sensitivity to sustained oil moves of this magnitude. Observers will watch whether Iran's posture holds and whether physical flows through the Strait confirm the stated openness before markets stabilize at a new baseline.
Nayara Energy has reduced petrol prices by ₹5 per litre and diesel by ₹3 per litre after global crude costs fell on easing West Asia tensions and the reopening of a key maritime shipping route. The move raises pressure on state-owned fuel retailers to follow with their own price cuts.
Indian startups raised $5.2 billion across 501 deals in H1 2026, down 9% in value but up 7% in deal count year-on-year, per the Inc42 Indian Tech Startup Funding Report. The drop is driven by fewer mega-rounds, while AI funding surged 317% and growth-stage deal activity hit a multi-year high.
The BSE Sensex fell 893 points and the Nifty 50 shed 279 points on June 30, 2026, wiping out roughly Rs 6 lakh crore in investor wealth in a single session. Both indices dropped 1.16%, closing at 76,200.68 and 23,824.10 respectively.
Kotak Mahindra Bank shares fell nearly 3% to Rs 397.6 after CEO Ashok Vaswani announced plans to exit the bank. Investor concern now centres on succession timing and whether the bank's ongoing digital and deposit-growth strategy will stay on track.
