Crude oil eases to ₹9,127/barrel in futures trade despite global market upheaval

by Hansraj Agrawal | Apr 24, 2026 | Business

Crude oil prices traded marginally lower at ₹9,127 per barrel in futures trade on Friday, even as global benchmarks moved higher amid escalating tensions in West Asia.

On the Multi Commodity Exchange, crude oil for May delivery slipped ₹48, or 0.52 per cent, to Rs 9,127 per barrel in 12,549 lots.

Analysts said domestic oil prices edged lower due to profit-booking, while global markets remained firm on supply concerns.

In international markets, Brent Crude futures for the June contract rose $2.18, or 2.07 per cent, to $107.25 per barrel, while West Texas Intermediate for the same month delivery gained $1.90, or 2 per cent, to $97.75 per barrel in New York.

“Crude oil futures moved higher as Middle East tensions intensified, with the Strait of Hormuz remaining closed and ceasefire talks showing no clear progress,” Kaveri More, Commodity Analyst – Technical Research at Choice Broking, said.

She added that fresh military activity around Tehran and continued US naval action in the region have kept supply concerns elevated, while President Donald Trump’s order to target vessels laying mines in the Strait of Hormuz has added to fears of prolonged disruption.

“With Iran showing no immediate willingness to negotiate under continued naval restrictions, the standoff continues to tighten global supply, while stronger demand for US exports and falling domestic fuel inventories are providing additional support to prices,” More said.

Published on April 24, 2026

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Sachin Tendulkar turns 53, celebrates birthday with family and fans

by Hansraj Agrawal | Apr 24, 2026 | Business

Sachin Tendulkar celebrated his 53rd birthday with family and fans at his Mumbai residence, as admirers gathered in large numbers, marking the occasion of one of cricket’s greatest legends. (a file photo)
| Photo Credit:
ANI

Master Blaster’ Sachin Tendulkar turned 53 on Friday and celebrated his birthday with his family members and fans at his Mumbai residence.

Tendulkar shared a post on X with a photo of his wife, mother and pet dog and wrote, “Perfect start to my day with Aai, Anjali and the trouble maker! What more could a man ask for?”

Earlier, a huge number of fans gathered outside his residence and he cut cake in front of them and clicked selfies and signed autographs with many of them.

A legendary career defined by unmatched records

Born on 24 April 1973, Tendulkar was the most complete batter of his time, the most prolific run-maker of all time, and arguably the biggest cricket icon the game has ever known.

He holds the record for the most centuries in both Tests and ODIs, a remarkable feat, especially considering he didn’t register his first ODI hundred until his 79th match.

With a staggering 34,357 international runs, Sachin Tendulkar stands as the most prolific batter in cricket history. Throughout his illustrious international career, he rewrote the record books time and again, setting milestones that remain unchallenged to this day.

Dominance across formats and longevity

With his unwavering patience and resilience, the ‘Master Blaster’ has 200 Test appearances to his name, the most by any player in the format.

Tendulkar, who turned 53 years old on Friday, amassed 15,921 runs, 51 centuries, and 2,058 fours — the most by any player in red-ball cricket. Revered as India’s “God of Cricket,” he also became the fastest to 15,000 Test runs, reaching the milestone in just 300 innings, a distinction he holds exclusively.

With a career that spanned over 22 years and 91 days, the 53-year-old has the longest career in ODIs. With a staggering 1,894 runs and nine centuries in 1998, Tendulkar holds the record for the most runs and centuries scored in a single calendar year in the format, a feat that still stands unrivalled.

Unmatched achievements across formats

Tendulkar holds the highest number of Player of the Match awards (76), the most runs in a career (34,357), the most fifties (264), the most nineties (28), and the most fours (4,076) across all formats.

Published on April 24, 2026

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No change in Bt cottonseed MRP for 2026-27

by Hansraj Agrawal | Apr 24, 2026 | Business

The MRP was introduced in 2016 and the need for it was felt after farmers were sold Bt cottonseeds at much higher rates.
| Photo Credit:
MURALI KUMAR K

The Union Agriculture Ministry has not changed the maximum retail price (MRP) of Bt cottonseed price for Bolgard I and II varieties for the upcoming kharif season, keeping those same as in 2025-26.

Last year, the government fixed the MRP of Bolgard II at ₹900/packet (of 450 gram), up from ₹864/packet in 2024-25. The MRP of Bolgard I remains at ₹635/packet since price control of Bt cotton seed was introduced in 2016.

In a late night gazette notification on April 23, the agriculture ministry said that after taking into consideration the recommendations made by the concerned ‘Committee’, the maximum sale price of Bacillus thuringiensis (Bt) cotton seeds for a packet (475 grams Refugia-in-Bag seeds containing minimum 5 per cent and maximum 10 per cent non-Bt Cotton) shall be same as notified on March 27, 2025 for the financial year 2026-27.

businessline had reported last month that taking a cue from past instances, there might not be an increase in the maximum retail price this year.

There was a precedence in 2019-20 when the MRP of Bolgard II was kept unchanged at ₹710/packe. Since the last year’s MRP saw a hike of over 4 per cent compared with only 1 per cent hike in 2024-25, non-increase in price may not impact the industry much. But the seed industry was said to have requested for a proportionate hike as per general inflation, sources said.

The government held stakeholders meeting on the issue of Bt cotton MRP in March as it is a legal obligation under the Cotton Seeds Price (Control) Order, 2015 to notify the MRP each year whether there is an increase or not.

The RSS affiliate Bharatiya Kisan Sangh had opposed fixing MRP for Bt cotton, saying due to the price fixation of Bt cotton seeds the non-GM cotton is getting sold at very low rates of ₹300-400/packet. It said that since the pest resistance capacity to Pink Bollworm (PBW) of Bt cotton is questionable, there was no need to declare price for Bt cotton.

The MRP was introduced in 2016 and the need for it was felt after farmers were sold Bt cottonseeds at much higher rates. Official sources said that if prices were not fixed, farmers might again be charged higher and this Order is the maximum cap and not a floor price.

Pesticide use

In a written reply in the Lok Sabha in February, Union Minister of State for Agriculture Ramnath Thakur said that about 95 per cent area under cotton cultivation is occupied by Bt cotton.

However, he also said that PBW has developed resistance against Bt protein and is becoming a major pest in all cotton-growing areas. At the same time the minister admitted that Bt cotton has continued to control one major cotton pest [American bollworm (Helicoverpa armigera)].

Sucking pests are also surging in the cotton ecosystem over the years, he said adding farmers now spend more on pesticides than during initial period of Bt-cotton introduction.

Bt-cotton adoption is shown to be a poor indicator of yield trends, he said and added that it was a strong indicator of initial reductions in pesticide use.

Published on April 24, 2026

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India approves ₹3,000 crore for Maldives under SAARC currency swap

by Hansraj Agrawal | Apr 24, 2026 | Business

India has approved withdrawal of ₹3,000 crore for the Maldives under the SAARC Currency Swap Framework, the Indian High Commission in Male said on Thursday, reaffirming New Delhi’s role as a key financial partner for its island neighbour.

The drawdown comes on the same day that Maldives settled a $400 million swap facility availed in October 2024 under the US Dollar/Euro Swap Window of the bilateral agreement between the Reserve Bank of India and the Maldives Monetary Authority.

The settlement reflects the Maldives government’s commitment to meeting its financial obligations, the Maldives Foreign Ministry said.

The ₹3,000 crore facility has been released under the INR Swap Window of the ‘Framework on Currency Swap Arrangement for SAARC Countries, 2024-2027’. The agreement was signed between the RBI and the MMA during President Mohamed Muizzu’s state visit to New Delhi in October 2024.

According to the Maldives Foreign Ministry, the facility will support the government’s broader strategy to reinforce economic stability amid the evolving situation in West Asia. The INR Swap Window under the framework includes favourable terms aimed at improving accessibility and effectiveness for the recipient country.

Since the inception of the SAARC Swap Framework in 2012, the RBI has extended aggregate swap support worth $1.1 billion to the Maldives. The Indian High Commission noted that the currency swap arrangement has become an important element in ensuring financial stability for the Maldives, particularly during periods of external economic pressure.

The Indian High Commission reiterated that the Maldives remains a vital partner under India’s ‘Neighbourhood First’ policy and Vision MAHASAGAR. “India, as a friendly neighbour, has always been the ‘first responder’ for the Maldives,” the statement said.The Maldives Foreign Ministry welcomed India’s continued support, calling the approval of the ₹3,000 crore swap facility a testament to the enduring partnership between the two countries.

It also underscored New Delhi’s commitment to regional financial cooperation through the SAARC framework.The currency swap arrangement allows the Maldives to access foreign exchange in times of liquidity stress without relying solely on commercial borrowings, helping it manage balance-of-payment pressures and maintain macroeconomic stability.

For India, the facility is part of a broader strategy to strengthen economic ties with South Asian neighbours and counterbalance growing external influence in the region. Officials in Male said the latest swap will provide immediate relief to the country’s foreign exchange reserves and support its efforts to stabilise the economy as global uncertainties persist.

With West Asia facing renewed geopolitical volatility, the timely assistance is seen as crucial for maintaining investor confidence and ensuring smooth external payments.

Published on April 24, 2026

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Nifty slips below 24,200 as crude tops 6 on Hormuz fears

Nifty slips below 24,200 as crude tops $106 on Hormuz fears

by Hansraj Agrawal | Apr 24, 2026 | Business

On the Nifty 50, pharma and aviation names led gains.

Markets opened cautiously on Friday, with the Nifty 50 trading at 24,130.75, down 42.30 points (0.17 per cent) from its previous close of 24,173.05, while the Sensex opened at 77,483.80 against its previous close of 77,664.00, and was seen trading at 77,523.55, down 140.45 points (0.18 per cent) at 9.16 am.

Thursday’s session ended with the Nifty falling 205 points, forming what analysts described as a Gravestone Doji-like candlestick pattern — a sign of selling pressure at higher levels. India VIX, the market’s fear gauge, rose 1.58 per cent to 18.59, indicating heightened uncertainty.

Brent crude oil surged to around $106 per barrel, up nearly 18 per cent this week alone, as a naval blockade of the Strait of Hormuz continued to disrupt supply. The spike has rattled markets from Tokyo to Mumbai, with Asia’s refining activity already hit by crude shortages. “Market has been continuously responding to bad news and hopes emanating from a potential deal on the West Asia conflict,” said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments. “A mid to long-term market direction will emerge only from clarity on the conflict resolution, particularly on the opening of the Hormuz Strait.”

Gainers and losers

On the Nifty 50, pharma and aviation names led gains. Max Healthcare opened at ₹1,009.95 and was trading at ₹1,017.00, up 1.02 per cent. IndiGo rose 0.92 per cent to ₹4,597.90 from a previous close of ₹4,556.00. Grasim Industries gained 0.88 per cent to ₹2,759.20, Bajaj Auto climbed 0.83 per cent to ₹9,630.00, and Jio Financial Services added 0.77 per cent to trade at ₹250.57.

IT and pharma heavyweights were the session’s biggest drag. Infosys fell 2.93 per cent to ₹1,204.30 from a previous close of ₹1,240.60 on over 21 lakh shares changing hands. Cipla dropped 2.35 per cent to ₹1,275.20, Sun Pharma slipped 1.74 per cent to ₹1,650.90, Dr. Reddy’s Laboratories declined 1.66 per cent to ₹1,308.90, and TCS fell 1.06 per cent to ₹2,495.00. “Poor guidance from IT majors indicate that large cap IT stocks will continue to be weak despite the low valuations,” Vijayakumar added.

Foreign institutional investors extended their selling streak to a fourth consecutive session on April 23, offloading equities worth ₹3,254 crore. Domestic institutional investors provided partial cover, buying equities worth ₹941 crore. The pressure pushed the rupee down 32 paise against the dollar to its weakest level this April, last seen at 94.11.

Global markets

Globally, US stocks closed lower on Thursday. The Nasdaq fell 0.89 per cent, while the S&P 500 and the Dow each declined around 0.4 per cent, with technology stocks leading losses. ServiceNow and IBM posted disappointing guidance. However, Intel surged over 20 per cent in after-hours trade on strong data centre and AI-driven demand. In a rare bright spot, the Israel-Lebanon ceasefire was extended by three weeks. “The extension is being viewed as a temporary relief rather than a structural resolution,” noted Hariprasad K, Founder of Livelong Wealth.

Across global economies, the US Federal Reserve is widely expected to hold rates as oil-driven inflation complicates its path. The European Central Bank is expected to hold now but likely hike in June, with eurozone inflation running at 2.7–3 per cent. The Bank of England is also on hold as UK inflation climbed to 3.3 per cent.

Domestically, the earnings calendar will drive stock-specific action. Reliance Industries reports after market close today, with IndusInd Bank and Shriram Finance also in focus. “Nifty is expected to open slightly higher around 24,250… but the structure remains cautious unless important resistances are reclaimed,” said Gaurav Udani, Founder of ThinCredBlu Securities. “Any move towards resistance may face selling pressure, making a sell on rise approach more relevant.”

Analysts broadly agree the market is in a wait-and-watch mode. “Fresh long positions should ideally be initiated only after the Nifty decisively breaks above and sustains the 24,500 level,” said Hitesh Tailor, Research Analyst at Choice Equity Broking.

Published on April 24, 2026

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Indian travellers get visa-free transit through France from April 2026

by Hansraj Agrawal | Apr 24, 2026 | Business

France has removed the transit visa requirement for Indian nationals travelling exclusively by air through its airports, effective April 10, 2026.

Indians transiting through France exclusively by air will no longer require a transit visa, as the French government has operationalised an agreement to remove such a requirement, the Ministry of External Affairs (MEA) said.

MEA spokesperson Randhir Jaiswal made the announcement at his weekly media briefing here, saying India welcomes the move.

Later in a statement, the MEA said the visa-free transit for Indian nationals transiting through the European territory of France has now been operationalised by the French government.

The decision showcases deep commitment by Prime Minister Narendra Modi and President Emmanuel Macron to strengthen bilateral relations, the MEA said.

At the media briefing, Jaiswal said the decision reflects the enduring partnership between India and France, elevated to the level of a ‘Special Global Strategic Partnership’ during the recent visit of President Macron to India, as also further facilitation of smoother movement of people, and enhancing of people-to-people ties.

“The government of France has now operationalised this agreement, and Indian nationals transiting through mainland France exclusively by air will no longer need a transit visa, with effect from 10th April, 2026,” Jaiswal said.

“We welcome the announcement on the operationalisation of visa-free transit for Indian nationals transiting through French airports. As you may recall, the removal of the requirement of transit visas for Indian passport holders was agreed between the prime minister and President Macron during their meeting in Mumbai in February this year,” he said.

In response to a query on the number of Indians ships which are still to pass the Strait of Hormuz, Jaiswal said, “We have ten Indian ships which have exited Strait of Hormuz safely in the last few weeks. We have 14 Indian ships which are still in the Persian Gulf.” On reported incidents of some vessels being fired on, he said, the two ships which were fired on, they are “foreign owned”.

“There are some Indian nationals on them, on board these ships. They are safe. As far as our ships are concerned in the Persian Gulf, we continue to remain in close conversation with Iranian authorities so that they can safely exit Persian Gulf and reach India,” he added.

On a query on whether during the visit of MEA’s Secretary (West) visit to the US, the issue of designating TRF outfit was raised, the MEA spokesperson said Secretary (West) travelled to New York, and he made several statements there including, in the ECOSOC.

He also met the Secretary General and several issues that are part of our agenda at the UN were discussed.

“In regard to TRF, I can say that the monitoring team is considering this, and we continue to push hard because we want to strengthen global fight against terrorism and in that regard it’s important that UN member states are on board with how we take, how we approach fighting terrorism globally speaking,” he added.

Published on April 24, 2026

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