The combined market valuation of eight of the top-10 most-valued firms eroded by ₹2,81,581.53 crore last week, with the State Bank of India taking the biggest hit, in tandem with a weak trend in equities.

Last week, the BSE benchmark tanked 2,368.29 points, or 2.91 per cent.

“Markets ended the holiday-shortened week with steep losses as escalating geopolitical tensions in West Asia and a sharp spike in crude oil prices weighed heavily on investor sentiment,” Ajit Mishra, SVP, Research, Religare Broking Ltd, said.

From the top-10 pack, Reliance Industries and Infosys were the only gainers.

The market valuation of State Bank of India tumbled ₹53,952.96 crore to ₹10,55,567.27 crore.

ICICI Bank’s valuation eroded by ₹46,936.82 crore to ₹9,40,049.82 crore and that of HDFC Bank dived ₹46,552.3 crore to ₹13,19,107.08 crore.

The valuation of Larsen & Toubro tanked ₹45,629.03 crore to ₹5,43,208.36 crore.

The market capitalisation (mcap) of Bajaj Finance dropped by ₹28,934.56 crore to ₹5,91,136.03 crore and that of Tata Consultancy Services (TCS) diminished by ₹28,492.44 crore to ₹9,25,380.15 crore.

Hindustan Unilever‘s mcap declined by 26,350.67 crore to Rs 5,23,042.51 crore and that of Bharti Airtel edged lower by ₹4,732.75 crore to ₹10,67,120.50 crore.

However, the market valuation of Reliance Industries jumped ₹14,750.39 crore to ₹19,01,583.05 crore.

The mcap of Infosys climbed ₹3,459.99 crore to ₹5,30,546.54 crore.

Reliance Industries remained the most valued domestic firm followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Infosys, and Hindustan Unilever.

Published on March 8, 2026

For decades, diamonds in India have been deeply intertwined with tradition. They symbolised weddings, family milestones and generational wealth, with purchasing decisions often guided by customs passed down through families. The act of buying a diamond was rarely a purely personal decision; it was rooted in cultural expectations and legacy.

But the Indian diamond buyer today looks very different.

A new generation of consumers, largely millennials and Gen Z, is reshaping the market with a mindset that prioritises choice over convention. While tradition continues to hold emotional significance, today’s buyers are far more independent in how they approach luxury purchases. They are informed, digitally aware, and increasingly guided by their own values rather than inherited norms.

So what does today’s diamond buyer really want?

First and foremost, they want transparency. Modern consumers are no longer satisfied with simply admiring the sparkle of a diamond; they want to understand its journey. Questions about origin, production processes, and certification are becoming integral to the buying process. In a world where information is readily accessible, consumers expect clarity and credibility from the brands and retailers they engage with.

Second, today’s buyers value accessibility and flexibility in the category. Diamonds were once perceived as a once-in-a-lifetime purchase tied almost exclusively to weddings or family celebrations. That perception is gradually changing. Younger consumers are approaching diamonds with a more lifestyle-oriented perspective, viewing them not just as heirlooms but as a form of self-expression.

This shift has expanded the reasons people buy diamonds. Increasingly, they are being purchased to celebrate personal achievements, career milestones, or simply as an indulgence that reflects individual style. The concept of “everyday luxury” is gaining traction, with consumers looking for jewellery that fits seamlessly into their daily lives rather than being reserved for rare occasions.

Value consciousness

Design trends are evolving accordingly. Lightweight pieces, versatile designs, and contemporary aesthetics are becoming more popular as buyers seek jewellery that can transition effortlessly from professional settings to social occasions.

Another important factor shaping the modern diamond buyer is value consciousness. This does not necessarily mean choosing the cheapest option; rather, it reflects a desire for greater value and relevance in luxury purchases. Consumers today want their spending to feel meaningful and justified, whether through superior craftsmanship, ethical considerations, or innovation.

In this context, lab-grown diamonds are increasingly entering the conversation.

Created using advanced technological processes that replicate the natural conditions under which diamonds form, lab-grown diamonds are chemically, physically, and optically identical to mined diamonds. They exhibit the same brilliance, hardness, and durability, and are certified and graded using internationally recognised standards.

Affordability an appeal

For many modern buyers, lab-grown diamonds represent a compelling combination of innovation, transparency, and accessibility. Because they can be produced in controlled environments, they offer a level of traceability that aligns with the expectations of a generation that values clarity around sourcing and production.

Another factor contributing to their growing appeal is affordability. Lab-grown diamonds often allow consumers to access larger or higher-quality stones within a similar budget, enabling them to explore diamond jewellery in a way that feels more attainable. This has opened the category to first-time buyers who may previously have viewed diamonds as financially out of reach.

Beyond affordability, however, the rise of lab-grown diamonds reflects a broader cultural shift. Today’s consumers are comfortable embracing technology-driven innovation across sectors, from electric vehicles to plant-based foods and digital finance. In that context, diamonds created through advanced technology feel like a natural extension of this mindset.

Increasing awareness

India itself occupies a unique position in this evolving landscape. As one of the world’s largest centres for diamond cutting and polishing, the country has long played a central role in the global diamond ecosystem. With growing expertise in lab-grown diamond manufacturing and increasing consumer awareness, India also has the opportunity to lead the next phase of innovation in the industry.

At the same time, education will remain critical. While awareness of lab-grown diamonds is steadily increasing, misconceptions about the category still exist. Providing clear information, credible certification, and transparent communication will be essential in helping consumers make informed choices.

Ultimately, the modern diamond buyer is not abandoning tradition, they are redefining it.

Diamonds continue to hold emotional significance, but the reasons for purchasing them are becoming more diverse. Today’s buyers want jewellery that reflects their personal values, their lifestyles, and their sense of identity.

In that sense, the future of the diamond industry will be shaped not just by heritage, but by the power of choice. And as consumers increasingly prioritise transparency, innovation, and accessibility, lab-grown diamonds are likely to play an important role in shaping how the next generation experiences and engages with the timeless allure of diamonds.

The author is Founder at Akoirah by Augmont

Published on March 8, 2026

US President Donald Trump said he is ​not interested in negotiating
with Iran and raised the possibility that the Iran war would
only end once Tehran no longer has a functioning military or any
remaining leadership in power.

Speaking ‌to reporters aboard Air Force One on Saturday,
Trump said the air campaign could make negotiations a moot point
if all potential ​leaders of Iran are killed and the Iranian
military is destroyed.

“At some point, I don’t think there will be anybody left
maybe to ⁠say ‘We surrender,'” Trump said.

IRAN PRESIDENT’S APOLOGY CAUSES STIR

Israel and Iran traded numerous attacks on Saturday as the
U.S.-Israeli war against Iran entered a second week. Iran’s
president apologized to neighboring states for its attacks on
U.S. facilities in those countries, in an attempt to cool anger
across the Gulf, but stirred criticism from hardliners at home.

“I personally apologize to neighboring countries ‌that were
affected by Iran’s actions,” Iranian President Masoud Pezeshkian
said, urging them not to join U.S.-Israeli attacks on Iran.

He dismissed Trump’s demand for the Islamic Republic’s
unconditional surrender as “a dream,” but said its temporary
leadership council had agreed to suspend attacks on nearby
states unless strikes on ‌Iran originated from their territory.

Amid possible divisions within Iran’s leadership over
Pezeshkian’s remarks, Israeli Prime Minister Benjamin Netanyahu,
in a televised address, said any members of ‌Iran’s ⁠Islamic
Revolutionary Guard Corps who laid down their arms would be
unharmed.

Ali Larijani, Iran’s secretary of the Supreme National
Security Council, said on ⁠state television there was no rift
among Iranian officials over its handling of the war.

In Oslo, the U.S. embassy was hit by an explosion early on
Sunday, causing minor damage but no injuries, Norwegian police
said. Smoke was seen rising from the area around the embassy
compound, eyewitnesses told Norwegian daily Verdens Gang. It was
not immediately clear what caused the blast or who was involved.

The U.S. State ​Department did not immediately respond to a
request for comment.

Saudi Arabia ‌has told Tehran that continued Iranian attacks
on the kingdom and its energy sector could push Riyadh to
respond in kind, four people familiar with the matter told
Reuters.

Saudi Arabia foiled a drone attack on Riyadh’s diplomatic
quarter, the Saudi defense ministry said early on Sunday. No
injuries were reported.

Pezeshkian’s comments caused a political stir in Iran,
prompting his office to reiterate Iran’s military would respond
firmly to attacks from U.S. bases in the region.

Hours later, the president repeated ‌his statement on social
media but left out the apology from his speech that had angered
hardliners, including the powerful Revolutionary Guards.

The judiciary chief, ​Mohseni-Ejei, a hardline member of the
three-man council temporarily holding the powers of supreme
leader, said the territory of some regional countries was being
used for attacks against Iran and retaliatory strikes would
continue.

Hours after Pezeshkian’s announcement, the Revolutionary
Guards said their drones struck a U.S. ⁠air combat center near
Abu Dhabi, capital of the United Arab Emirates. Reuters could
not independently verify that report.

ISRAEL WARNS LEBANON TO REIN IN HEZBOLLAH

The Kuwaiti army said on Saturday that fuel storage tanks
belonging to Kuwait International Airport were targeted in a
drone attack.

In Iran, local news agencies, citing an Iranian Oil Ministry
source, said its fuel ‌depots were hit by strikes in three areas,
including Karaj, west of Tehran.

The Revolutionary Guards also targeted U.S. forces at a base
in Bahrain, Iranian state media said, and blasts were heard in
Doha.

Tehran has responded to the U.S.-Israeli war on Iran by
hitting Israel and Gulf Arab states hosting U.S. military
installations. Israel has launched fresh attacks in Lebanon
after the Iran-aligned militia Hezbollah fired across the
border.

With the conflict spreading, Israel warned Lebanon of a
“very heavy price” if it did not rein in Iran-allied Hezbollah
militants, as it pounded the group’s strongholds with airstrikes
and mounted a deadly airborne raid in the east.

On Saturday morning, more buildings in the
Hezbollah-controlled southern suburbs of Beirut had been reduced
to mounds of smoking rubble, dust and tangled wires, Reuters
video showed.

The death toll from Israel’s attacks on Lebanon since Monday
rose ‌to around 300, after at least four people were killed when
an Israeli strike hit an apartment in the Ramada hotel building
in central Beirut, Lebanon’s health ministry said. It was the
first ​strike to hit the heart of the capital since
Israel-Hezbollah hostilities resumed last week.

The U.S.-Israeli attacks have killed at least 1,332 Iranian
civilians and wounded thousands, according to Iran’s U.N.
ambassador, Amir Saeid Iravani. Huge explosions were heard in
parts of Tehran, state media reported, while ⁠Israel said it had
struck Iranian missile sites and command centers.

Iranian attacks have killed 10 people in Israel. At least
six U.S. service members have been killed. Their ⁠remains arrived
on Saturday at an Air Force base in Delaware.

Iran’s apparent strategy of maximum chaos has driven up the
costs of the conflict by raising energy prices and hurting
global business and logistics links.

Kuwait’s national oil company began cutting output on
Saturday, adding to earlier oil and gas cuts ‌from Iraq and
Qatar.

The war has roiled global markets and oil prices have hit
multi-year highs with the Strait of Hormuz effectively shut.

Hardline clerics have called for the swift selection of a
new supreme leader, Iranian media reported on Saturday, with
meetings occurring as soon as Sunday.

Published on March 8, 2026

India on Saturday raised the price of cooking gas by ₹60 per cylinder for both PMUY and non-PMUY users as the world’s third largest liquefied petroleum gas (LPG) consumer navigates a complex scenario of rising prices coupled with lack of cargoes from its main suppliers in West Asia, a region on the brink of a full blown war.

The price hike—second in the current financial year—comes at a time when when the world’s second largest LPG importer is scrambling to secure cargoes from the US and Canada, while invoking emergency powers back home directing refiners to maximise production of the critical cooking fuel used by more than 33 crore consumers, including over 10 crore PM Ujjwala Yojna (PMUY) beneficiaries.

Effective Saturday, non-PMUY consumers will have to shell out ₹913 for a 14.2-kg cylinder in Delhi. PMUY consumers will have to pay ₹613 per cylinder.

Breaking down the ₹60 per cylinder price hike for both PMUY and non-PMUY consumers, a top source said it translates to roughly 80 paise per family per day for cooking, or around 20 paise per person per day (for a family of four).

Besides, commercial LPG prices largely reflect prevailing international market conditions. They act as a market indicator of the global LPG price trend, the same source added.

The government also raised the price of commercial LPG—used by hotels and restaurants—by ₹114.5 per 19-kg cylinder to Rs 1,883 in Delhi.

Halt at Hormuz

Government sources said the price rise reflects the conflict in West Asia, which led to the closure of the Strait of Hormuz. India consumed more than 33 million tonne of LPG in FY25, of which over half was imported. Of this, 85-90 per cent came from West Asia with most cargo transiting the Strait.

Middle East Gulf (MEG), excluding Iran, is India’s largest supplier of LPG, covering 92 per cent (around 720,000 barrels per day) imports as of 2025, as per Vortexa. Maritime consultancy Drewry pegs that nearly 40 per cent of the global LPG supply passes through the 34 km narrow passage annually.

The government is exploiting all possible sources to get fresh supplies, some of which are expected by March-end. Besides buying 10 per cent of its LPG imports from the US, India is also in touch with Canada to procure LPG. Africa is another region that India can exploit for additional cargoes.

Shielding consumers

On rationale behind the price hike, sources said that it is important to view it in context of the current geopolitical scenario and the resultant LPG price movements, as well as the sustained efforts of the government to shield households from international volatility.

For instance, the average Saudi CP was around $575 per tonne from March 2024 to March 2026 (fluctuating from $636/tonne in March 2024, falling to $466 in November 2025, and then rising to $542 in March 2026). However, the domestic LPG (PMUY) prices have largely remained at ₹503-553 level.

Domestic LPG prices continue to remain below market-linked levels. For example, the market-determined price of a 14.2 kg cylinder in Delhi in March 2026 was around ₹987, while it was being sold to consumers at ₹853, roughly ₹134 lower than market price. Pricing calculations indicate that the required increase should be around ₹134 per cylinder, yet the government approved only ₹60.

For PMUY beneficiaries, the impact on household cooking expenses remains modest. The estimated cost of cooking per day per household increased from about ₹7.31 to ₹8.11, an increase of less than ₹1 per day.

While the average Saudi CP rose by 41 per cent from $385/tonne in July 2023 to $542 in March 2026, the effective price for domestic LPG (PMUY) has been reduced by about 32 per cent, from ₹903 per cylinder (14.2 kg) in August 2023 to ₹613 in March 2026.

Published on March 7, 2026