The National Stock Exchange (NSE) has announced that launching Dated Brent Crude Oil (Platts) futures contracts in its commodity derivatives segment after receiving approval from Sebi. Trading in these contracts will begin on April 13, 2026.According to an NSE circular, the contracts will be introduced with monthly expiries extending up to 2027. They will be based on the S&P Global Energy (Platts) Dated Brent assessment and will trade under the symbol “BRCRUDEOIL”.The exchange said that the launch is aimed at expanding its commodity derivatives offerings and giving market participants a tool linked to a global crude oil benchmark. The Platts Dated Brent assessment tracks international crude oil prices, and the contracts are expected to help improve price discovery and support hedging in line with global markets.Each contract will have a trading unit of 100 barrels, with a maximum limit of 10,000 barrels. A 6% daily price limit will apply at first. If this limit is crossed, trading will pause for 15 minutes, after which the limit can be widened to 9%.“In case price movement in international markets is more than the maximum daily price limit (currently 9%), or if the international price is beyond the maximum daily price limit range (after appropriate currency conversion) when compared with the previous day’s closing price on the domestic exchange, the same may be further relaxed in steps of 3% beyond the maximum permitted limit, by giving appropriate notice to the market,” the circular noted.The contracts will be cash-settled. The final settlement price will be based on the monthly simple average of the Platts Dated Brent assessments in rupee terms.The NSE circular states, “Final Settlement Price shall be the monthly simple average price, in Indian rupees, of the S&P Global Energy’s (Platts) Dated Brent assessments (midpoint of the high and low) for the respective contract month. The monthly simple average RBI USD/INR reference rate of the respective contract month will be used for conversion. The price so arrived at will be rounded off to the nearest tick.”The NSE said the move will help Indian market participants access global crude benchmarks, improve hedging for refiners, importers and institutional traders, and strengthen price discovery by linking domestic markets with international prices. It is also expected to increase liquidity and participation in the segment.Further details on risk management, clearing and settlement will be issued separately by NSE Clearing Ltd.

The war in Iran has inflicted significant damage on US military assets, with losses and repairs estimated between $1.4 billion and $2.9 billion within the first three weeks, according to a report by The Wall Street Journal.The bulk of the damage has been attributed to Iranian ballistic missiles and drone strikes targeting US and allied infrastructure across the Middle East. The Pentagon is expected to account for these losses in a proposed $200 billion supplemental spending request sent to the White House.

Fighter aircraft losses

Among the most high-value losses are advanced fighter jets. Three F-15E Strike Eagle aircraft were mistakenly shot down by a Kuwaiti F/A-18 on March 1, though all six crew members ejected safely. Each jet is estimated to cost around $100 million.A F-35A Lightning II also made an emergency landing on March 19, with Iran claiming it had targeted the aircraft. Each F-35A is valued at approximately $82.5 million.

Tankers and personnel losses

The conflict has also affected aerial refuelling operations. A KC-135 Stratotanker crashed over Iraq after colliding mid-air with another tanker, killing six crew members.In addition, five KC-135 aircraft were damaged during an Iranian missile strike on Prince Sultan Air Base in Saudi Arabia. As the aircraft is no longer manufactured, replacements are likely to be the KC-46 Pegasus, each costing about $165 million.

Drone fleet hit

Unmanned aerial systems have suffered repeated losses. More than a dozen MQ-9 Reaper drones have been lost since the conflict began.This includes at least eight shot down by Iranian missiles, three destroyed on the ground and one downed by a Persian Gulf nation. Each MQ-9 costs at least $16 million, while newer MQ-9B variants are priced at around $30 million.

Missile defence and radar damage

Key surveillance and missile defence systems have also been targeted. An AN/TPY-2 radar in Jordan, part of a THAAD battery, was struck, with an estimated cost of over $300 million.In Qatar, damage was reported to an AN/FPS-132 radar at Al-Udeid Air Base, a high-value system capable of tracking multiple threats simultaneously and costing around $1 billion.Additional attacks have reportedly impacted radar, communications and air-defence systems in countries including the UAE, Bahrain, Kuwait and Saudi Arabia.

Naval setback

Apart from combat-related damage, operational incidents have also added to the overall cost. A fire broke out aboard the USS Gerald R Ford on March 12, affecting multiple sections of the vessel, including living quarters. The carrier is currently undergoing repairs in Greece.

Cost of escalation

The early financial toll reflects the scale of material losses in the conflict, even without a full-scale ground war. With high-value platforms, surveillance systems and drones affected, the overall cost is expected to rise further as operations continue.

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The holiday-shortened trading week took a toll on the country’s top companies, with seven of the ten most valued firms collectively losing Rs 1.75 lakh crore in market capitalisation. Reliance Industries saw the largest share of the erosion, mirroring the broader weakness in equities. The downturn in stocks was reflected in the benchmark indices, with the BSE Sensex falling 949.74 points, or 1.27%, and the NSE Nifty slipping 294.9 points, also down 1.27% over the week. According to Ajit Mishra, SVP, Research, Religare Broking Ltd, the market witnessed significant fluctuations throughout the period. “Markets ended the week on a weaker note, reflecting heightened volatility amid fluctuating global cues and escalating geopolitical tensions in the Middle East. The week was marked by sharp swings, with early losses driven by concerns over energy supply disruptions, a weakening rupee, which touched a record low, and rising volatility,” he said. He added that sentiment briefly improved mid-week on expectations of a temporary easing in tensions between the US and Iran. “However, renewed selling pressure on Friday erased the gains, dragging indices lower,” Mishra said. Reliance Industries saw its valuation shrink by Rs 89,720.3 crore to Rs 18,24,515.62 crore. HDFC Bank also posted a steep decline, with its market capitalisation dropping by Rs 37,248.59 crore to Rs 11,64,018.69 crore. State Bank of India followed with a loss of Rs 35,399.42 crore, bringing its valuation to Rs 9,41,569.15 crore. ICICI Bank’s market cap fell by Rs 8,121.76 crore to Rs 8,83,551.30 crore, while Bharti Airtel declined by Rs 2,480.42 crore to Rs 10,50,413.33 crore. Hindustan Unilever registered a fall of Rs 2,091.13 crore, taking its valuation to Rs 4,87,540.19 crore, and Tata Consultancy Services saw a marginal dip of Rs 271.35 crore to Rs 8,64,668.65 crore. On the other hand, Larsen & Toubro recorded gains of Rs 18,051.68 crore, lifting its market capitalisation to Rs 4,90,536.19 crore. Bajaj Finance added Rs 8,680.36 crore to reach Rs 5,25,395.48 crore, while Infosys rose by Rs 6,245.3 crore to Rs 5,15,034.67 crore. Reliance Industries remained the most valued company during the week, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, Tata Consultancy Services, Bajaj Finance, Infosys, Larsen & Toubro and Hindustan Unilever.

Dia Mirza recently addressed the wave of criticism faced by ‘IC 814: The Kandahar Hijack.’ In an interaction, when a comparison between ‘IC 814: The Kandahar Hijack’ and ‘Dhurandhar’ was drawn, Dia pointed out how the show’s attempt to humanise every character sparked discomfort among viewers. She also highlighted that at this time in point, jingoism is widely celebrated.

Dia Mirza on ‘IC 814’ criticism

Dia opened up on The Namrata Zakaria Show about the criticism her IC 814 team endured for their Kandahar hijack series. ‘Dhurandhar’ got tagged as a “chest thumping film,” while IC 814 faced heat for taking a different path. She shared, “The show was called out for humanising all the characters, including the terrorists. I guess it is because we are celebrating jingoism too much now. We adore it. There is a trend to enjoy and celebrate jingoism, which our show is not. I don’t regret it. It has such a balanced view and gives people the opportunity to see each side the way it was.”