Petrol & Diesel Prices hiked | More Restrictions on Gold Imports | Oil prices remain elevated
Global markets remained upbeat as the Dow Jones Industrial Average crossed 50,000 and the S&P 500 moved above 7,000, while rising US 10-year yields above 4.5% and a stronger US Dollar Index above 99 kept Asian markets cautious amid elevated inflation concerns; meanwhile, Brent Crude surged above $107 after reports that China and the US may cooperate to keep the Strait of Hormuz open, easing supply disruption fears, while Indian markets extended gains for a second session with the NIFTY 50 trading above 23,650 supported by net buying from FIIs worth ₹187.46 crore and DIIs worth ₹684.33 crore; oil & gas stocks such as Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum are expected to remain in focus after fuel prices were hiked by ₹3, while the government tightened gold import norms by capping advance authorisation imports at 100 kg, mandating factory inspections for first-time applicants and linking future approvals to 50% export obligation fulfilment to curb misuse and improve compliance in the bullion trade.