Gold fell, pressured by a stronger US dollar and concerns over higher interest rates, as the war in the Middle East extended into a second week and oil surged toward $120 a barrel.

Bullion tumbled as much as 3% to $5,015 an ounce, following its first weekly decline in more than a month, before paring some losses. Major oil and gas producers in the Persian Gulf region curbed output as the US-Israeli war with Iran showed no sign of resolution, while the dollar strengthened against all of its major peers. A gauge of the US currency jumped as much as 0.7%.

Gold has come under pressure as spiking crude prices stoke inflation fears in the US, raising the likelihood that the Federal Reserve will leave interest rates unchanged for longer, or even raise them. Higher borrowing costs, as well a stronger dollar, are typically negative for precious metals. Bullion has also served as a source of liquidity during a deepening rout in global equities.

While trading has been choppy and upward momentum has stalled, gold has still gained around 18% so far this year. US President Donald Trump’s upheaval of global trade and geopolitics, as well as threats to the Fed’s independence, has supported safer assets. Elevated central-bank buying has also underpinned growth, and the People’s Bank of China bought more gold in February, extending its purchasing streak to 16 months.

A relatively swift end to the conflict would likely see the dollar weaken and gold rally, while a prolonged war would see the US currency and Treasury yields rise in anticipation of higher inflation — in turn, diminishing the likelihood of a rate cut, Ed Meir, metals analyst at Marex Capital Markets Inc., said in a note released March 7. “There is a time to buy, a time to sell and a time to simply wait,” he said. “The latter is the preferred course of action for the moment.”

The war in the Middle East has now entered its 10th day. Over the weekend, Tehran picked a new supreme leader and kept up attacks in the Persian Gulf region, while Israel struck fuel depots in the Iranian capital and threatened the Islamic Republic’s power grid. Attacks on energy infrastructure and a halt to shipping through the Strait of Hormuz, which normally handles a fifth of the world’s oil, have driven up prices of crude and natural gas.

Spot gold fell 1.5% to $5,093.39 an ounce as of 10:44 a.m. in Singapore. Silver dropped 2.2% to $82.66. Platinum declined 3% and palladium lost 0.6%. The Bloomberg Dollar Spot Index rose 0.5% after adding 1.3% last week.

More stories like this are available on bloomberg.com

Published on March 9, 2026

The board of Samhi Hotels has approved a significant investment to acquire 70 per cent partnership interest and equivalent profit share in Rare India for ₹47.39 crore. Rare India is a New Delhi-based partnership firm specialising in conscious luxury travel aggregation. The transaction comprises a primary capital contribution of ₹23.39 crore and acquisition of existing partnership interests worth ₹24 crore, structured in two successive tranches.

Tata Power has announced its collaboration with Salesforce to digitally transform its rapidly expanding rooftop solar (RTS), EV charging, and smart home solutions businesses. The collaboration reinforces Tata Power’s long-term clean energy roadmap aligned with India’s net-zero ambitions by establishing a secure, intelligent, and fully integrated clean energy ecosystem powered by AI, automation, and data-driven insights. The platform will enable scalable growth, deeper partner and customer engagement, and operational excellence across the renewable energy value chain.

Tax disputes: Meesho, Go Digit

Meesho Ltd has received an assessment order from the Assessment Unit of the Income Tax Department raising a tax demand of ₹1,499.73 crore for the assessment year 2023–24, including applicable interest.

Go Digit General Insurance Ltd informed the exchanges that it has received an order from Chennai GST authorities re-affirming a demand of ₹154.81 crore plus penalty of ₹15.48 lakh for the period July 2017 to March 2022. The demand relates to non-payment of GST on co-insurance premium and reinsurance commission, which the company describes as an industry-wide issue. This follows the Bombay High Court’s earlier direction in July 2025 to re-adjudicate the matter. The company plans to pursue an appeal and evaluate other legal actions against the order.

Cement players: Niraj Cement, UltraTech

Niraj Cement Structurals Ltd has received three major EPC contracts totalling ₹179.65 crore (including GST) from government infrastructure authorities. The Ministry of Road Transport and Highways (MoRTH) awarded a ₹80.12 crore order for constructing vehicular underpasses at Zarap Sawantwadi Junction in Sindhudurg District, Maharashtra, with a 12-month execution period. The National Highways Authority of India (NHAI) granted ₹91.33 crore to the company’s JV for three vehicular underpasses in Odisha, executable in 18 months. Additionally, Odisha’s Public Works Department (PWD) issued a ₹8.20 crore order for a new minor bridge across Jeriguda Nallah at Km 297.520 (NH-326) including approaches, also on 18-month EPC terms.

UltraTech Cement Ltd has informed the exchanges that it has entered into an energy supply agreement and a share subscription and shareholders agreement to acquire a 26.20 per cent equity stake in Sunsure Solarpark Thirty Eight Pvt Ltd. The cash transaction involves an equity investment of up to ₹6.72 crore. According to the cement major, this strategic acquisition is aimed at meeting its green energy needs, optimising energy costs, and ensuring compliance with regulatory requirements for captive power consumption under electricity laws.

Order wins: RailTel, RITES, United Drilling, 3C IT Solutions

Sun Drops Energia Ltd, subsidiary of KPI Green Energy, has executed a battery energy storage purchase agreement (BESPA) with Gujarat Urja Vikas Nigam Ltd (GUVNL) following a Letter of Intent received on January 3, for developing self-owned Independent Power Producer (IPP) standalone Battery Energy Storage System (BESS) projects totalling 445 MW/890 MWh capacity at multiple Gujarat locations. The projects emerged from GUVNL’s tariff-based competitive bidding under Phase-VII, supported by Viability Gap Funding (VGF) via the Power System Development Fund (PSDF).

RailTel Corporation of India Ltd has received a Letter of Acceptance (LoA) worth ₹26.73 crore from South East Central Railway for a comprehensive optical fiber cable (OFC) infrastructure project. The order encompasses supply, transportation, trenching, laying, backfilling, horizontal directional drilling, HDPE pipe insertion, blowing, jointing, and termination of OFC and has to be executed by March 5, 2027.

RITES Ltd has received a major work order worth ₹45.19 crore from Public Works (Roads) Directorate, Government of West Bengal, for consultancy services as Project Management Consultant. The contract covers entire design and construction supervision as Authority Engineer for a proposed 4-lane extra dosed bridge over river Muriganga including approaches, connecting Kachuberia (Sagar Island) with Kakdwip in South 24 Parganas district. The domestic order carries a 48-month execution period.

United Drilling Tools Ltd, a leading oil drilling equipment manufacturer and services provider, has received a domestic commercial order worth ₹3.73 crore from Oil and Natural Gas Corporation Ltd (ONGC). The order involves the supply of large OD casing pipes executable within 5-6 months.

3C IT Solutions & Telecoms (India) Ltd has received a purchase order of ₹3.21 crore for supply of Lenovo laptops. The order has been received in the ordinary course of business and reflects the growing demand for products/services and reaffirms our commitment to providing high-quality solutions to organisations.

Pharma stocks: Lupin, Cipla, Neogen Chem, IOL Chem

The board of Kabra Drugs Ltd, which proposes to change its name to ‘Aanjaay Industries Ltd’ and thus marking a strategic pivot towards defence technology, has approved a Bilateral Strategic Comprehensive Joint Venture Agreement with PT. Bhinneka Dwi Persada, an Indonesian firm specialising in strategic defence equipment including Rajawali 330 UAV, Rajawali Cargo Drone, Hovercraft Rajawali TD1000, and MCCV. PT. Bhinneka holds intellectual property rights over these technologies.

Lupin informed the exchanges that the USFDA has concluded an inspection at its manufacturing facility in Ankleshwar from March 2 to 7 and closed with the issuance of a Form-483 with two observations. The company will address the observations and respond to the USFDA within the stipulated timeframe. The company is committed to being compliant with CGMP standards across all our facilities.

A US-based subsidiary of Cipla is recalling over 400 cartons of generic anti-cancer medication due to a manufacturing issue, according to the US Food and Drug Administration (USFDA). Warren (New Jersey)-based Cipla USA, Inc is recalling Nilotinib Capsules in two strengths (150 mg and 200 mg), the US health regulator said in its latest Enforcement Report. The company is recalling the affected lot (271 and 164 cartons) due to “failed tablet/capsule specifications”, it stated.

The board of Neogen Chemicals approved the issuance of 10,00,000 equity shares of ₹10 face value each at ₹1,610 a share (including ₹1,600 premium), aggregating ₹161 crore, through preferential allotment to Cadamba Solutions Private Limited (promoter group entity). Post-allotment, Cadamba’s holding rises from zero to 3.65 per cent, with shares locked-in for 18 months per Regulation 167 of SEBI ICDR Regulations, 2018.

The European Directorate for the Quality of Medicines & Health Care (EDQM) has granted a Certificate of Suitability (CEP) for IOL Chemicals and Pharmaceuticals Limited’s API product “Metformin Hydrochloride Process-II” on March 5 in addition to the existing valid CEP already held by the company. Metformin Hydrochloride is an anti-diabetic drug which is used to manage high blood sugar levels in diabetes patients.

Banks: Kotak Mahindra Bank, YES Bank, AU Small Finance

AU Small Finance Bank has informed the exchanges that the Reserve Bank of India has modified its in-principle approval to become a universal bank. Previously, RBI stipulated that promoters/promoter group shareholding in the transitioned Universal Bank must be held through a Non-Operative Financial Holding Company (NOFHC). This NOFHC requirement is now deferred and will only apply if the Bank or its promoter group establishes any new group entity in the future.

Kotak Mahindra Bank has informed the bourses that the Reserve Bank of India (RBI) has approved the appointment of Anup Kumar Saha to the board as a Whole-time Director (Executive Director) and Key Managerial Personnel. Following the approval, Saha’s appointment took effect immediately.

YES Bank has appointed veteran Vinay Muralidhar Tonse as its managing director and chief executive officer (designate) following the receipt of approval of the Reserve Bank of India. Tonse would serve in the designated role from March 12, 2026, until April 5, 2026. He is slated to officially take the helm as the full-time MD and CEO on April 6, 2026, YES Bank said.

Coromandel, Maruti, GAIL

Coromandel International Ltd had announced regarding setting up of Phosphoric acid (PA) and Sulphuric acid (SA) plants at Kakinada, Andhra Pradesh. In line with our earlier indication to commission the PA and SA plants in Quarter 4 of FY 2025-26, the Company has commenced trial production at the new facilities. Operations are currently being stabilised and will be progressively ramped up in a phased manner to achieve the rated capacities of 650 Tonnes Per Day (TPD) for PA and 2,000 TPD for SA.

Maruti Interior Products has announced that its Rights Issue Committee approved key terms for a rights issue aggregating up to ₹45.30 crore following BSE in-principle approval. The issue comprises 4,53,00,000 fully paid-up equity shares of ₹10 face value each at ₹10 per share (no premium), offered at a 3:1 rights entitlement ratio to eligible equity shareholders as of the record date, March 12, 2026. Assuming full subscription, post-issue outstanding equity shares will rise to 6,04,00,000 from the current 1,51,00,000.

The ongoing war in West Asia has adversely impacted the supply of Liquefied Natural Gas (LNG). In this regard, GAIL (India) Limited (GAIL), the Company’s supplier of Re-gasified Liquefied Natural Gas (RLNG), has received a Force Majeure Notice from its upstream supplier, Petronet LNG Limited (PLL), citing transit constraints affecting the supply of LNG. Since the supply of RLNG to Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) under its agreement with GAIL is dependent upon the receipt of RLNG by GAIL from PLL, GAIL has consequently issued a Force Majeure Notice to GNFC.

Flomic Global Logistics Ltd has executed the shipment of critical industrial machinery for a steel melting plant from India to Nigeria. The project highlights Flomic’s growing capabilities in handling specialised project cargo and heavy industrial logistics across international routes. The complex project cargo operation involved the transportation of equipment forming a complete production line for a 500 TPD DRI (Sponge Iron) plant, demonstrating Flomic’s expertise in handling heavy and high-value industrial cargo.

Published on March 9, 2026

India beat ‌New Zealand by ​96 ⁠runs in the final ‌at the ‌Narendra ‌Modi ⁠Stadium on ⁠Sunday to become the ​first ‌team to retain the men’s Twenty20 ‌World ​Cup title.

Put into ⁠bat, India posted a ‌commanding total of 255-5 and restricted ‌their opponents ​to 159 in 19 ⁠overs.

Led by Sanju Samson’s 46-ball 89 and equally destructive half-centuries from Abhishek Shamra (52 off 21 balls) and Ishan Kishan (54 off 25 balls), defending champions India put on a powerful batting show to post a massive 255 for five.

In reply, New Zealand lost all their top batters by the time the innings entered the halfway stage.

Opener Tim Seifert smashed 52 off 26 balls, but the rest of the top-order disappointed in the stiff chase.

Axar Patel dismissed the dangerous Finn Allen (9) and Glenn Phillips (5) while Jasprit Bumrah removed Rachin Ravindra (1) in the powerplay. Then, Hardik Pandya and Varun Varun Chakravarthy picked up a wicket each, while Axar returned to send back Daryl Mitchell (17).

Earlier, New Zealand bowlers were all at sea after inviting India to bat in the winners-take-all contest with Samson and Abhishek going berserk from the word go, lashing the ground with sixes and fours.

They raised a quick-fire 98-run stand in just 7.1 overs to provide a great platform, and Kishan carried forward the good work with his brisk knock.

Scoreboard at Close of Play of Final Between India and New Zealand on Sunday at Ahmedabad, India

India Win by 96 Runs

India – 1st Innings

– Sanju Samson c (Sub) b James Neesham 89

– Abhishek Sharma c Tim Seifert b Rachin Ravindra 52

– Ishan Kishan c Mark Chapman b James Neesham 54

– Hardik Pandya c Mitchell Santner b Matt Henry 18

– Suryakumar Yadav c Rachin Ravindra b James Neesham 0

– Tilak Varma Not Out 8

– Shivam Dube Not Out 26

– Extras 0b 0lb 0nb 0pen 8w 8

– Total (20.0 overs) 255-5

Fall of Wickets: 1-98 (Sharma), 2-203 (Samson), 3-204 (Kishan), 4-204 (Yadav), 5-226 (Pandya)

Did Not Bat: Patel, Vinod, Bumrah, Singh

Bowling

| Bowler | Ov | Md | Rn | Wk | Econ | Ex |

|———————|—-|—-|—-|—-|——-|—-|

| Matt Henry | 4 | 0 | 49 | 1 | 12.25 | 4w |

| Glenn Phillips | 1 | 0 | 5 | 0 | 5.00 | |

| Jacob Duffy | 3 | 0 | 42 | 0 | 14.00 | 1w |

| Lockie Ferguson | 2 | 0 | 48 | 0 | 24.00 | 3w |

| Mitchell Santner | 4 | 0 | 33 | 0 | 8.25 | |

| Rachin Ravindra | 2 | 0 | 32 | 1 | 16.00 | |

| James Neesham | 4 | 0 | 46 | 3 | 11.50 | |

—

New Zealand – 1st Innings

– Tim Seifert c Ishan Kishan b Varun Chakaravarthy 52

– Finn Allen c Tilak Varma b Axar Patel 9

– Rachin Ravindra c Ishan Kishan b Jasprit Bumrah 1

– Glenn Phillips b Axar Patel 5

– Mark Chapman b Hardik Pandya 3

– Daryl Mitchell c Ishan Kishan b Axar Patel 17

– Mitchell Santner b Jasprit Bumrah 43

– James Neesham b Jasprit Bumrah 8

– Matt Henry b Jasprit Bumrah 0

– Lockie Ferguson Not Out 6

– Jacob Duffy c Tilak Varma b Abhishek Sharma 3

– Extras 4b 1lb 0nb 0pen 7w 12

– Total (19.0 overs) 159 all out

Fall of Wickets: 1-31 (Allen), 2-32 (Ravindra), 3-47 (Phillips), 4-70 (Chapman), 5-72 (Seifert), 6-124 (Mitchell), 7-141 (Neesham), 8-141 (Henry), 9-152 (Santner), 10-159 (Duffy)

Bowling

| Bowler | Ov | Md | Rn | Wk | Econ | Ex |

|———————|—-|—-|—-|—-|——-|—-|

| Arshdeep Singh | 4 | 0 | 32 | 0 | 8.00 | 5w |

| Hardik Pandya | 4 | 0 | 36 | 1 | 9.00 | 1w |

| Axar Patel | 3 | 0 | 27 | 3 | 9.00 | |

| Jasprit Bumrah | 4 | 0 | 15 | 4 | 3.75 | 1w |

| Varun Chakaravarthy | 3 | 0 | 39 | 1 | 13.00 | |

| Abhishek Sharma | 1 | 0 | 5 | 1 | 5.00 | |

Published on March 8, 2026