Oil prices rose to their highest level since January this year on Monday after the US strikes on nuclear facilities in Iran, with the country threatening to shut Strait of Hormuz, through which around 20 per cent of global crude supply flows.

Brent crude futures was up $1.92 or 2.49 per cent at $78.93 a barrel early on Monday. US West Texas Intermediate crude increased $1.89 or 2.56 per cent to $75.73.

Brent crude prices surged as much as 5 per cent. However, prices could not sustain at those levels and pared the early advance almost immediately.

Crude oil prices extended gains for a third straight week amid rising geopolitical tensions and a sharper-than-expected drawdown in US inventories.

The Indian benchmark indices opened in the red on Monday amid weak global cues due to rising Middle East tensions, as selling was seen in the IT and auto sectors in the early trade.

At around 9.30 am, Sensex was trading 677.10 points or 0.82 per cent down at 81,731.07 while the Nifty declined 204.6 point or 0.81 per cent at 24,907.75

Nifty Bank was down 387.75 points or 0.69 per cent at 55,865.10 The Nifty Midcap 100 index was trading at 57,776.05 after dropping 219.45 points or 0.38 per cent. Nifty Smallcap 100 index was at 18,148.95 after declining 45.25 points or 0.25 per cent.

According to analysts, even though the US bombing of Iran’s three nuclear facilities has worsened the crisis, the impact on the market is likely to be limited. The uncertain factor now is the timing and nature of the Iranian response.

Celebrating the International Yoga Day, Isha Foundation conducted free Yoga sessions for over 10,000 defence personnel across the country.

In total, more than 2,500 free sessions were held nationwide, witnessing enthusiastic participation from defence personnel, corporate professionals, students, and civilians alike, Isha Foundation said in an official statement on Saturday.

This large-scale initiative was made possible through the training of over 11,000 Yoga Veeras, who led sessions in both online and offline formats across a wide range of locations, including defence facilities, schools, colleges, office premises, gyms, and prisons. Additionally, more than 2,000 youth ambassadors actively promoted the importance of mental well-being while introducing Miracle of Mind, a simple yet powerful 7-minute guided meditation designed by Sadhguru to help users take charge of their mental health, the Isha Foundation stated.

Government-run Oil and Natural Gas Corporation (ONGC) on Saturday said it has made significant headway in its well control operations in Assam, with the flow rate of gas having reduced substantially, marking a critical step forward in containment efforts.

The international expert team from CUDD Pressure Control, US, who arrived on the site, has conducted a preliminary assessment of the situation and reviewed all actions undertaken by ONGC teams so far.

“The experts have expressed their agreement with the strategy and execution carried out to date, reaffirming the effectiveness of ONGC’s approach to safely managing the well,” ONGC said in a statement.

Based on the forward plan jointly developed, extensive site preparations are underway to facilitate the next phase of action.

The trend of foreign portfolio investment (FPI) experienced a reversal in April and demonstrated considerable strengthening in May, characterised by positive inflows, which continues as June progresses, analysts said on Saturday.

On June 20, the FPI inflows in equity stood at Rs 7,940.70 crore, as per the NSE’s latest data.

According to market experts, the inflows recorded in May represented the highest level observed in eight months, signifying a resurgence of interest from foreign investors in the Indian markets.

“Nonetheless, geopolitical tensions, including the conflict between Israel and Iran, alongside global uncertainties, fostered a cautiously optimistic pattern in June,” said Vipul Bhowar, Senior Director-Listed Investments, Waterfield Advisors.

Government-run Oil and Natural Gas Corporation (ONGC) has dug 578 wells in the year 2024-25, which is the highest in 35 years, Union Petroleum Minister Hardeep Singh Puri said on Saturday.

According to the minister, the bold decision taken by Prime Minister Narendra Modi on the 'No Go' area is giving new impetus to India's journey towards energy self-reliance.

“Giving new strength and direction to the exploration of oil and natural gas in India under the leadership of PM Modi, ONGC has dug 578 wells in the year 2024-25, which is the highest in 35 years,” Puri posted on X social media platform.

“Just like a strong foundation is required to build a building, similarly, to make India self-reliant in the field of energy, it is necessary to strengthen the exploration and production sector,” the Union Minister added.

After the Directorate General of Civil Aviation (DGCA) launched stringent action against Air India over serious lapses in crew scheduling protocols, directing it to remove three senior officials from rostering department without delay, the airline said on Saturday it has acknowledged the regulator’s directive and have implemented the order.

DGCA ordered Air India to remove the three officials from all roles and responsibilities related to crew scheduling and rostering.

According to a formal directive issued by the aviation regulator, it identified the trio as being directly responsible for multiple violations, including unauthorised and non-compliant crew pairings, breaches of mandatory licensing requirements, and a failure to adhere to flight crew recency norms.

The DGCA described the situation as a "systemic failure" in both scheduling procedures and supervisory oversight.

The gross direct tax collection (corporate tax, non-corporate tax, securities transaction tax and other levies) in the current fiscal (2025-26) rose by 4.86 per cent to Rs 5.45 lakh crore (as of June 19), according to the latest figures released by the Income Tax (I-T) department.

However, net collections saw a marginal decline due to a rise in refunds. Net direct tax collection saw a marginal decline of 1.39 per cent to Rs 4,58,822 crore from Rs 4,65,275 crore in the previous year.

The government issued direct tax refunds of Rs 86,385 crore till June 19 — an increase of 58.04 per cent as compared to the corresponding period of 2024-25, as per the official data.

According to the Central Board of Direct Taxes (CBDT), net direct tax collection includes corporate tax at Rs 1.72 lakh crore (net of refund), non-corporate tax at Rs 2.72 lakh crore and securities transaction tax at Rs 13,013 crore (net of refund).

The Indian equity benchmarks wrapped up the session on a robust note last week, decisively breaking through critical resistance level, propelled by sustained institutional accumulation, analysts said on Saturday.

The Nifty 50 convincingly closed above the psychologically significant 25,000 mark on Friday, underscoring bullish momentum. At the closing bell, the Sensex rallied 1,046.30 points, or 1.29 per cent, to settle at a fresh high of 82,408.17, while the Nifty 50 advanced 319.15 points, or 1.29 per cent, to end at 25,112.40.

“Relentless inflows from institutional investors — both Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs)—acted as key tailwinds, offsetting headwinds from prevailing geopolitical uncertainties and reinforcing positive sentiment across the street,” according to a note by Bajaj Broking Research.

The house price index (HPI) across India increased by 3.1 per cent in the January-March period (Q4 FY25), maintaining the same pace as the previous quarter (Q3).

The Reserve Bank released its quarterly HPI data for Q4, based on transaction-level data received from the registration authorities in 10 major cities.

“All-India HPI increased by 3.1 per cent (YoY) in Q4 2024-25 as compared with 3.1 per cent growth in the previous quarter and 4.1 per cent growth a year ago; annual HPI growth varied widely across the cities - ranging from a high growth of 8.8 per cent (Kolkata) to a contraction of 2.3 per cent (Kochi),” according to a RBI statement.

On a sequential basis, all-India HPI increased by 0.9 per cent in Q4.

Bengaluru, Jaipur, Kolkata and Chennai are the major cities recording a sequential rise in house prices during the latest quarter, the data showed.