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The Nifty 50 fell 1.49% and the Sensex dropped 1.7% on Monday, their steepest single-day losses since 30 March, after PM Modi urged citizens to cut fuel use and gold buying. Markets read the remarks as a possible policy signal that could hit energy and jewellery sectors.
Prime Minister Modi has urged Indians to reduce fuel use, overseas travel, and gold purchases as the Middle East conflict threatens India's heavily import-dependent energy supply. A broader war involving Iran could pressure the rupee, widen the trade deficit, and push up domestic fuel prices.
India has authorised 15 banks, including State Bank of India, HDFC Bank, and Bank of India, to import gold and silver through March 2029. The multi-year window provides supply chain certainty for the bullion market while keeping import flows within a regulated, monitored channel.
India's central government has authorized 15 banks, including SBI, HDFC Bank, Axis Bank, and Bank of India, to import gold and silver from April 1, 2026 through March 31, 2029. The multi-year license window provides import continuity for the country's dominant bullion supply channel, directly affecting domestic pricing
Tag
The Nifty 50 fell 1.49% and the Sensex dropped 1.7% on Monday, their steepest single-day losses since 30 March, after PM Modi urged citizens to cut fuel use and gold buying. Markets read the remarks as a possible policy signal that could hit energy and jewellery sectors.
1mo ago · 2 min · Markets
Prime Minister Modi has urged Indians to reduce fuel use, overseas travel, and gold purchases as the Middle East conflict threatens India's heavily import-dependent energy supply. A broader war involving Iran could pressure the rupee, widen the trade deficit, and push up domestic fuel prices.
1mo ago · 2 min · Big Stories
India has authorised 15 banks, including State Bank of India, HDFC Bank, and Bank of India, to import gold and silver through March 2029. The multi-year window provides supply chain certainty for the bullion market while keeping import flows within a regulated, monitored channel.
2mo ago · 1 min · Business
India's central government has authorized 15 banks, including SBI, HDFC Bank, Axis Bank, and Bank of India, to import gold and silver from April 1, 2026 through March 31, 2029. The multi-year license window provides import continuity for the country's dominant bullion supply channel, directly affecting domestic pricing
2mo ago · 1 min · Policy & Government
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