The Indian rupee plunged to a record low, closing at 93.76 against the US dollar as the Indian crude basket surged to a historic high of $156 per barrel. In response to squeezed margins, oil marketing companies HPCL, BPCL, and IOC hiked premium petrol prices by ₹2.09 to ₹2.35 per litre, the first increase since the West Asia conflict began, though regular petrol and diesel prices remain unchanged. Market analysts warn of significant inflationary pressures and challenges for sectors dependent on raw material imports, such as paints, chemicals, and lubricants. Amid these economic shifts, the Indian sugar industry has proposed expanding ethanol use as a clean cooking fuel to reduce LPG import dependency. This news prompted a rally in sugar stocks. Meanwhile, Indian equity markets saw a rebound, with the Sensex and Nifty gaining, led by a rally in IT stocks supported by a depreciating rupee and strong guidance from Accenture.
#PetrolPriceHike #RupeeRecordLow #IOCPriceIncrease #HPCLPetrolPriceHike #BPCLFuelPrices #CrudeOilPrices #IndianCrudeBasket #RupeeDepreciation #MiddleEastTensions #IranWarImpact #OilMarketingCompanies #PetrolPriceHike #FuelPricesIndia #InflationIndia #SensexRally #NiftyUp #ZomatoPlatformFee #ITStocksRally #BusinessToday #SakshiBatra #AvinashGorakshakar #OilAndGas #GeopoliticalTensions #PetroleumMinistry #MarketVolatility #IndianEconomy #RupeeAt9376 #OMCPriceIncrease #BPCL #HPCL #IOC #IndianRupee #InflationImpact #EthanolCookingFuel #SugarIndustry #LPGImports #EnergySecurityIndia #NiftyClosing #ITStocks #PSUBanks #FuelPrices #TradeDeficit #MarketNews #StockMarket #EthanolBlending #CleanCookingFuel #SugarStocks #SriRenukaSugar #DwarakeshSugar
Subscribe to India Today for NEW VIDEOS EVERY DAY and make sure to enable Push Notifications so you’ll never miss a new video.
All you need to do is PRESS THE BELL ICON next to the Subscribe button!
India Today TV is India’s leading English News Channel. India Today YouTube channel offers latest news videos on Politics, Business, Cricket, Bollywood, Lifestyle, Auto, Technology, Travel, Entertainment and a lot more.
Stay tuned for latest updates and in-depth analysis of news from India and around the world!
WhatsApp Channel: https://whatsapp.com/channel/0029Va2AnW3JENxxg7OuJv00
Download App: https://indiatoday.link/wHaj
Follow us: Official website: https://www.indiatoday.in/
Twitter: https://twitter.com/IndiaToday
Facebook: https://www.facebook.com/IndiaToday
