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Amid US-Iran war, Nayara plans 35-day shutdown for maintenance; 8% of India’s refining capacity may take a hit
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Amid US-Iran war, Nayara plans 35-day shutdown for maintenance; 8% of India’s refining capacity may take a hit

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Amid US-Iran war, Nayara plans 35-day shutdown for maintenance; 8% of India's refining capacity may take a hit
The company had postponed maintenance work at its 20 million tonnes-per-year Vadinar refinery in Gujarat. (AI image)

Russia’s Rosneft-backed Nayara Energy is planning to halt operations for around 35 days starting early April, a move that could temporarily take nearly 8% of India’s refining capacity offline and tighten domestic fuel availability, according to people familiar with the matter. The maintenance work comes at a time when the US-Iran war and Middle East conflict has reduced oil and gas availability. Imports of crude oil, natural gas and LPG are already under pressure due to the Iran conflict.The company had postponed maintenance work at its 20 million tonnes-per-year Vadinar refinery in Gujarat, the country’s second-largest, last year following European Union sanctions. Key European vendors, including suppliers of chemicals and catalysts, had declined to support the refinery after the sanctions were imposed. Having now completed most of the preparatory work for the turnaround, Nayara is set to move ahead with the shutdown, sources told ET.

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Oil, War, And A Phone Call: PM Modi Draws India’s Red Line At Strait Of Hormuz In Talks With Trump

Also Read | After Trump’s sanction waiver, Reliance Industries procures 5 million barrels of Iran crude oil: ReportA large portion of the refinery’s output is sold within the domestic market, with exports having declined after the sanctions last year. A considerable share of production is supplied to state-run refiners that market more fuel than they produce, while the remaining volumes are distributed through Nayara’s network of nearly 7,000 fuel retail outlets.A person familiar with the matter said the company has sufficient buffer and product reserves during the shutdown period to ensure that fuel stations remain adequately supplied without any disruption.While refinery shutdowns are routine and other refiners typically adjust operations to maintain supply, the current situation could be more challenging. An industry executive noted that with crude imports down by about one-fifth and LPG supplies described as “worrisome,” the temporary closure of a large refinery may put pressure on domestic availability.At the same time, global prices of refined products such as aviation turbine fuel (ATF), petrol and diesel have increased, even as retail fuel prices in India have remained unchanged. This has resulted in losses for both state-run and private refiners, which are facing higher crude procurement costs.Also Read | Fragile footing: How India, China face sizeable economic damage prospects from US-Iran war; outlook has grown more daunting

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$20 billion bet: ONGC eyes its oil exploration programme with deep-water drilling rigs; eye on energy security
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$20 billion bet: ONGC eyes its oil exploration programme with deep-water drilling rigs; eye on energy security

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$20 billion bet: ONGC eyes its oil exploration programme with deep-water drilling rigs; eye on energy security
ONGC floated a tender for these rigs as it looks to accelerate hydrocarbon exploration under the government’s Samudra Manthan mission. (AI image)

Oil and Natural Gas Corporation or ONGC is expected to spend about $18–20 billion on hiring deep-water drilling rigs for what could become its largest-ever oil exploration programme, according to people familiar with the development.Last month, ONGC floated a tender for these rigs as it looks to accelerate hydrocarbon exploration under the government’s Samudra Manthan mission, which is aimed at strengthening the country’s energy security. Around a dozen domestic and global drilling firms took part in a pre-bid meeting held in Mumbai on March 20, sources said.“The tender seeks a mix of drill ships and semi-submersible rigs for up to five years. This programme will cost ONGC around $18-20 billion,” a senior industry official whose company attended the meeting told ET.“ONGC is seeking mobilisation of the rigs within 80 days, which highlights ONGC’s urgency to scale up deep-water activity,” the industry official added.Apart from operations in the KG Basin along the east coast, ONGC has also initiated ultra-deep-water drilling in the Andaman region. The company is also exploring partnerships with global energy majors such as BP, ExxonMobil, TotalEnergies and Petrobras as part of its strategy to reduce risks that are associated with exploration in capital-intensive frontier areas. The tender that was issued in February invites bids from experienced offshore drilling contractors. This tender invites bids through an international competitive bidding process.Though the tender was issued in February, the news assumes significance at a time when India’s energy is particularly in focus with the Middle East conflict and the US-Iran war disrupting flows of crude oil, LPG, and LNG.

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‘Adequate stock available’: Govt issues clarification on LPG refill booking timeline amid confusion
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‘Adequate stock available’: Govt issues clarification on LPG refill booking timeline amid confusion

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'Adequate stock available': Govt issues clarification on LPG refill booking timeline amid confusion

The government on Wednesday dismissed reports suggesting a change in LPG refill booking timelines, stating that the information being shared is incorrect and misleading. The Centre reaffirmed that the existing timelines “remain unchanged and continue to” function under the current time limit.The ministry of petroleum & natural gas clarified that reports circulating on social media claiming changes to LPG refill booking timelines are false, stating that the suggested revised intervals: 45 days for PMUY connections, 25 days for single non-PMUY connections and 35 days for double cylinder non-PMUY connections, have no basis. It further added that the country has adequate LPG supplies and assured citizens that there is no need to panic.

Here’s what the government said:

The ministry stated that “no such changes have been made. The existing refill booking timelines remain unchanged and continue to be under the existing system.” Presently, LPG refill bookings follow a uniform structure:

  • 25 days in urban areas, and
  • 45 days in rural areas, irrespective of connection type

It also urged citizens not to believe or “circulate such misinformation” and to avoid unnecessary or panic-driven LPG refill bookings.“It is reiterated that adequate LPG stocks are available in the country, and there is no cause for concern,” the ministry added.Meanwhile, Indian Oil Corp Ltd has also soothed concerns about the timeline change reports. The oil firm stated that “reports claiming changes in LPG refill booking timelines are incorrect. There is no change in the existing timelines (25 days in urban areas / 45 days in rural areas), and LPG supplies remain adequate across the country. Please rely only on official sources and avoid panic.”In its statement, the ministry also cautioned the public against spreading or believing such misinformation. It also advised consumers to refrain from unnecessary or panic-driven refill bookings, reiterating that LPG stocks remain sufficient across the country and there is no cause for concern.

Fuel supply concerns arise amid Middle East crisis

As ongoing tensions in the Middle East region stretch through their fourth week, concerns are rising over fuel supply and prices in the country. Earlier, this week, Sujata Sharma, joint secretary, ministry of petroleum and natural gas said that the country continues to have adequate reserves of petroleum products. She noted that refineries are functioning at high operational levels with sufficient crude inventories.“All the refineries are operating at high capacity with adequate crude inventories. We have sufficient stock of petrol and diesel. The domestic production of LPG has been stepped up in the refineries,” she said.Sharma acknowledged that isolated instances of misinformation had led to confusion in certain areas, resulting in panic buying. She said such rumours had come to the notice of the ministry and were promptly addressed.She further added that around 7,500 domestic and commercial PNG connections were provided in a single day across 110 geographical areas. Highlighting potential reach, she noted that about “60 lakh such households where PNG connection can be provided” have been identified and encouraged eligible users to adopt PNG connections at the earliest.

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Jensen Huang: Nvidia CEO Jensen Huang has a solution for AI job loss fears: Become a … |
gbussiness702118@gmail.com Politics
Jensen Huang: Nvidia CEO Jensen Huang has a solution for AI job loss fears: Become a … |

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Nvidia CEO Jensen Huang has a solution for AI job loss fears: Become a ...

Nvidia CEO Jensen Huang, whose company is at the center of the AI revolution, says workers in every profession from farming to carpentry should embrace artificial intelligence to future-proof their jobs. According to a report by Business Insider, speaking on the Lex Fridman Podcast, Huang argued that AI is not just coming for office jobs, but blue-collar workers should also pay attention. “If I were a farmer, I would absolutely use AI. If I were a pharmacist, I would use AI,” Huang said. “I want to see what it could do to elevate my job so that I could be the innovator to revolutionize this industry myself.”

Jensen Huang believes AI is transforming traditional roles

Huang also shared the examples of how AI can transform traditional roles. For carpenters, Huang said that coding represents big opportunity, adding,“A carpenter with AI is also an architect. Their artistry just elevated tremendously.” By learning to integrate AI into their work, he suggested, workers can expand their value and creativity rather than be replaced.Previously, Huang said that he is “certain 100% of everybody’s jobs will be changed” by AI. While Nvidia CEO acknowledged that some roles will be lost as tasks are automated, he also stressed on the fact that many new opportunities will also be created by AI. The key, he said, is for workers to learn how to use AI to automate repetitive tasks and focus on higher-value contributions.With anxiety about AI-driven layoffs growing, Huang’s advice is straightforward: become an expert in AI, no matter your job function. He noted that in hiring decisions, he would always prefer candidates who understand AI over those who don’t. “Every college student should graduate and be an expert in AI,” he said, adding that this knowledge could be the difference between landing a job and ending up unemployed.Huang also touched on the arrival of artificial general intelligence (AGI), saying the age of AGI is already here. Even his own role as CEO of one of the world’s most successful tech companies, he admitted, isn’t immune to AI disruption.

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Gold price prediction today: Where is gold headed on March 25, 2026 & in the near-term?
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Gold price prediction today: Where is gold headed on March 25, 2026 & in the near-term?

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Gold price prediction today: Where is gold headed on March 25, 2026 & in the near-term?
Gold recorded one of the sharpest weekly losses in recent years in the last week. (AI image)

Gold price prediction today: Gold prices are likely to see movement based on inflation projections and rate cut expectations, says Maneesh Sharma, AVP – Commodities & Currencies at Anand Rathi Shares and Stock Brokers.Gold recorded one of the sharpest weekly losses in recent years in the last week while prices plunged to four month lows at around $4099/Oz in spot yesterday.

Reasons for fall in gold prices since last week

  • Higher oil prices led to inflationary fears leading to expectations of rate hikes by central banks.
  • US Treasury yields remain elevated – US 10Y yields 3.93% on 3rd Mar. to 4.37 % today)
  • A steady US Dollar (USD) trading above 99 continues to cap the upside for the commodity.

The International Monetary Fund (IMF) Managing Director Kristalina Georgieva had warned earlier in March that a sustained 10% rise in Oil prices for a year would push global inflation by 40 basis pointsGlobal central banks continued to buy gold in the month of January (net 5 tonnes), but momentum has eased at the start of the year, with a monthly average of 27t seen in 2025.The recent weakness in bullions has also been exacerbated by forced selling, as investors liquidate gold positions to cover losses elsewhere in their portfolios rather than a deterioration in gold’s longer term fundamentalsA prolonged conflict meanwhile creates a risk for emerging market central banks to allocate less funds to buy gold during the current year as the same could be used to fund elevated oil purchases & injecting liquidity through tools like quantitative easing to boost economic growth.Geopolitical Developments

  • Iran denied that it had held talks with the US to end the war, contradicting US President Donald Trump’s remarks on Monday that a deal could be reached soon.
  • Moreover, Mohsen Rezaei, the senior military adviser to Iranian Supreme Leader Mojtaba Khamenei, said – war to continue until Iran receives full compensation for the damage.
  • Adding to this, energy infrastructure in Iran has reportedly come under renewed pressure, which, along with the effective closure of the Strait of Hormuz, assists Crude Oil prices.

Gold Price Broad Outlook (International markets)

  • Weekly View: Spot Gold (CMP 4,410/Oz) – Volatile for current week, Downside Bias for 1 – 2 weeks
  • Spot Silver (CMP $70.10/Oz): Bounce towards $ 73 – 74/Oz, remains a selling opportunity for 1 – 2 week

Currently gold & silver have reversed the upside trend seen since the start of the year.

  • Spot Gold (CMP 4410/oz) bounced seen since yesterday from a four-month low, below $4,100 looks unsustainable on a weekly basis. Upside resistance zone $ 4520 – 4570/Oz.
  • A 10 – 15 % fall in Spot prices towards $ 3800 – 3750/Oz in next 1 – 2 weeks cannot be ruled out in case Oil continues to rise on prolonged geopolitical tensions.
  • Support for Silver pegged at around $ 56 – 58/Oz in Spot while resistance remains at around 73 – 74/Oz in spot.

Gold has now fallen every week since the conflict began on 28 February as elevated energy prices and geopolitical risks are increasingly being offset by higher real yields and a firmer dollar Hence gold’s direction will depend less on geopolitical headlines alone and more on how those events shape inflation, monetary policy expectations and real interest rates.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

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Closure of American bases in Gulf, reparation for attacks: What Iran is demanding in potential truce deal with US
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Closure of American bases in Gulf, reparation for attacks: What Iran is demanding in potential truce deal with US

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Iran’s $800 Million Blow: How U.S. Military Bases Damaged Across Middle East

Is there an end in sight to the chaos in the Middle East? Iran has set a high bar for a possible ceasefire with the United States, as tensions have been escalating since February 28. The ongoing military exchanges between the US-Israel coalition and Iran have created a constantly evolving situation. Meanwhile, apart from Tehran’s demands, the US has offered a 15-point proposal aimed at ending the ongoing conflict.What began as a targeted mission against then-Supreme Leader Ayatollah Ali Khamenei, who was killed on the first day of Donald Trump’s Operation Epic Fury, in coordination with Benjamin Netanyahu’s Operation Roaring Lion, has now escalated into daily, large-scale bombings across the region, including the cities like Dubai and Abu Dhabi.

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Iran’s $800 Million Blow: How U.S. Military Bases Damaged Across Middle East

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Despite losing its longest-serving leader, the Tehran regime has consolidated power within the Iranian government and the IRGC, according to the Wall Street Journal. The report also detailed the demands of the regime now under Supreme Leader Mojtaba Khamenei.

What Iran is demanding

According to the report, Tehran has asked the Trump administration to close all American bases in the Gulf region and provide reparations for attacks on Iranian territory. Additionally, Iran seeks to collect fees for ships transiting the Strait of Hormuz, similar to how Egypt charges for passage through the Suez Canal.The demand included the lifting of all US-imposed sanctions.The regime also wants guarantees that the war will not resume and an end to Israeli strikes on Iran-aligned militias, including Hezbollah in Lebanon. Allowing Iran to maintain its missile program without any negotiations to limit it remains a major sticking point.However, the Trump administration appears unwilling to entertain Tehran’s demands. A US official described them as “ridiculous and unrealistic.” Arab and US officials warned that such posturing could make reaching a deal with Tehran even harder than before Trump launched the war.The officials added that the first signals of the new diplomatic round came through Middle Eastern intermediaries late last week, and that there has been no direct contact between the US and Iran.

US offers 15-point proposal to Iran

US President Donald Trump has shared a 15-point proposal with Iran aimed at ending the ongoing conflict in the Middle East. “All starts with, they cannot have a nuclear weapon,” Trump said, signalling a renewed diplomatic push even as military operations continue, according to a New York Times report citing officials familiar with the matter.

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‘Come Closer’: Iran To Kick Off ‘CRUSH AMERICA’ Mission As Trump Plans US Boots On Ground

Pakistan initiated the conveyance of proposal that addressed the key issues including Iran’s ballistic missile and nuclear programmes, as Washington seeks an “offramp” from a war now in its fourth week, which has widened to involve multiple countries.Israel’s Channel 12 reported that Trump is proposing a one-month ceasefire, during which the sides would discuss a plan including the handover of Iran’s enriched uranium and a ban on further enrichment. The New York Times noted it had not reviewed the document directly but was told it also addresses maritime security concerns. Since the conflict began on February 28, Iran has effectively restricted Western shipping through the Strait of Hormuz, disrupting global oil and gas supplies and driving up prices.Following compliance with the plan, Iran would see an end to all sanctions, which have been in place in various forms for years, the Israeli report said. Iran would also receive assistance in developing civil nuclear energy at Bushehr, a key site that predates the 1979 Islamic revolution.It remains unclear how widely the proposal has been circulated within Iran’s leadership or whether Tehran is willing to engage on its basis. There is also no clarity on whether Israel supports the initiative. Despite the diplomatic outreach, hostilities show no immediate signs of easing. Israeli officials have indicated that military operations could continue for weeks.Acknowledging parallel diplomatic efforts, White House press secretary Karoline Leavitt said, “As President Trump and his negotiators explore this newfound possibility of diplomacy, Operation Epic Fury continues unabated to achieve the military objectives laid out by the commander in chief and the Pentagon.”

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‘Negotiations With Bombs’: Trump’s HUGE Iran Announcement Amid Strikes On US Bases | Watch

Pakistan’s de facto head and army chief Asim Munir, have positioned themselves as possible intermediaries, leveraging reported ties with Iran’s Islamic Revolutionary Guards Corps to facilitate communication. Officials said Egypt and Turkey are also encouraging Tehran to engage constructively.Munir has reached out to Iranian parliament speaker Mohammad Bagher Ghalibaf, proposing that Pakistan host talks between the two sides, the report says. Supporting the initiative, Pakistan Prime Minister Shehbaz Sharif said his country “fully supports ongoing efforts to pursue dialogue to end” the conflict. “Subject to concurrence by the US and Iran, Pakistan stands ready and honoured to be the host to facilitate meaningful and conclusive talks for a comprehensive settlement of the ongoing conflict,” he added.

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Rupee inches closer to 94: Currency falls 20 paise to 93.96 per US dollar in early trade
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Rupee inches closer to 94: Currency falls 20 paise to 93.96 per US dollar in early trade

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Rupee inches closer to 94: Currency falls 20 paise to 93.96 per US dollar in early trade

Rupee on Wednesday took another fall towards the 94 per US dollar mark, tumbling 20 paise in early trade to reach 93.96 against the greenback. This follows a weak run for the currency this month. Earlier on Tuesday, the currency had already slipped by 23 paise to settle at 93.76, pressured by a stronger US dollar against major currencies and elevated global crude oil prices, which weighed on investor sentiment.Rupee has been facing pressure due to foreign fund outflows, with forex traders citing uncertainty linked to the West Asia crisis as a key factor behind the sustained weakness. The currency had already shown signs of strain earlier in the week, inching closer to the psychological 94-level against the US dollar for the first time on Monday, before recovering to close flat at 93.53.“Persistent FPI outflows continue to pressure INR. A strong US dollar is keeping emerging market currencies weak, and the INR has weakened by about 4.5 per cent during the month. The rupee range for Wednesday is expected to be 93.65 to 94.25,” Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP, said. Meanwhile, Dalal Street remained strong with benchmark indices jumping by over 1% each. As of 9:40 am IST, NSE Nifty50 was trading at 23,212.55, up 300.15 or 1.31%. BSE Sensex was also trading in green, gaining almost 900 points or 1.22% to trade at 74,969.91.Uncertainity around the Middle East tensions have also triggered volitality in financial markets. The plunge comes after the United States had put forward a 15-point proposal to Iran aimed at ending the ongoing conflict. US President Donald Trump said Washington and Tehran are “currently in negotiations” and suggested that Iran is eager to strike a peace deal, even as the Islamic Republic has denied holding any direct talks with the United States.

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Rahul Gandhi Warns Of Inflation Wave Amid Rupee Fall, Slams Modi Govt Over Strategy

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Sora Video App: OpenAI is shutting down Sora video platform, less than a year after launch that CEO Sam Altman said will ‘teach’ company to think ambitiously about its product road map |
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Sora Video App: OpenAI is shutting down Sora video platform, less than a year after launch that CEO Sam Altman said will ‘teach’ company to think ambitiously about its product road map |

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OpenAI is shutting down Sora video platform, less than a year after launch that CEO Sam Altman said will 'teach' company to think ambitiously about its product road map

ChatGPT-maker OpenAI has is now shutting down its Sora video platform less than a year after its high-profile launch. According to a report by Wall Street Journal, OpenAI CEO Sam Altman informed the staff that the company will discontinue products that use its video models, including the consumer app, developer version and video functionality inside ChatGPT. This move is part of a broader strategy to refocus resources on business and coding tools as OpenAI is gearing up for a potential IPO later this year.

OpenAI Sora’s journey: From ambitious launch to quite exit

OpenAI launched Sora video platform in September last year. The tool was designed as a TikTok-style feed for sharing AI-generated videos. Altman also encouraged the users to splice him into famous cultural scenes, positioning the app as a bold experiment to push OpenAI’s product roadmap. However, despite the fanfare, Sora struggled to gain the desired traction and the employees also questioned the heavy computing resources which were devoted to it.

Copyright battles and Disney deal collapse

The rollout of Sora was marred by copyright concerns, as it initially lacked the guardrails to protect the content owners. However, OpenAI later added controls, but it was too late as the damage was already done. In December, Disney accounted a $1 billion investment tied to licensing over 200 characters for Sora, enabling users to create videos with various popular icons such as Luke Skywalker or Toy Story’s Woody. This deal has now collapsed as Disney said it respects OpenAI’s decision to exit video generation.

OpenAI to focus on productivity and robotics

With the shut down of Sora video platform, OpenAI CEO Sam Altman also said that Sora team will pivot to longer-term bets such as robotics, while OpenAI consolidates its consumer offerings into a single “superapp” combining ChatGPT, Codex, and its browser. The OpenAI executives have also stressed on the need to avoid “side quests” and instead build agentic AI systems capable of autonomously writing software, analyzing data, and supporting enterprise users.

OpenAI working on Superapp

OpenAI is combining its ChatGPT app, Codex coding agent, and Atlas browser into a single desktop ‘superapp,’ the company confirmed—a consolidation move that signals a sharp pivot away from last year’s sprawling, launch-everything strategy. Fidji Simo, OpenAI’s CEO of Applications, will lead the effort alongside President Greg Brockman, with the stated goal of cutting down on fragmentation that, in Simo’s own words, has been “slowing us down and making it harder to hit the quality bar we want.“The move was first reported by the Wall Street Journal, with CNBC independently confirming the details shortly after.The new unified app will be built around Codex, which has grown to over two million weekly active users—nearly four times its figure from January, per Simo’s own posts on X. OpenAI plans to add agentic features to Codex first, so the app can handle productivity tasks beyond coding, before folding in ChatGPT and Atlas. The mobile ChatGPT app will remain separate and unchanged.

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Stock market today (March 25, 2026): Nifty50 opens above 23,100; BSE Sensex rises over 700 points as oil goes below $100
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Stock market today (March 25, 2026): Nifty50 opens above 23,100; BSE Sensex rises over 700 points as oil goes below $100

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Stock market today (March 25, 2026): Nifty50 opens above 23,100; BSE Sensex rises over 700 points as oil goes below $100
Stock market today (AI image)

Stock market today: Nifty50 and BSE Sensex continued their rally on Wednesday rising almost 1% in opening trade. While Nifty50 went above 23,100, BSE Sensex rose over 700 points. At 9:16 AM, Nifty50 was trading at 23,126.65, up 214 points or 0.94%. BSE Sensex was at 74,775.22, up 707 points or 0.95%.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “Hope is returning to the market with indications of deescalation in the conflict. Remarks from President Trump and from the Iranian regime indicate that the conflict might end soon. Particularly the reiteration from Iran that “non-hostile ships can transit the Strait of Hormuz” is good news that will mitigate India’s energy concerns. These positive geopolitical developments have reflected a sharp decline in Brent crude to around $98. The US 10-year yield also has declined. Gold has recovered. If this positive development sustains, there is room for a sharp rebound in the market. But if the recovery is to sustain FIIs should stop their big sustained selling, which, in turn, will require stability in the rupee. Yesterday’s 399 point recovery in the Nifty was caused more by short covering. In the near-term, mid and small caps can rebound more than large caps since there is no worry of significant FII selling in this segment.”Asian equities moved higher as optimism grew around Washington’s efforts to resolve the nearly month-long conflict in the Middle East. The dollar also weakened.US markets, however, saw choppy trading during Tuesday’s session, as investors weighed concerns over rising oil prices against hopes for a resolution to the conflict. This came even as reports indicated that additional American troops could be deployed to the region despite signs of diplomatic progress.Oil prices fell more than 5% on Wednesday on expectations that a potential ceasefire could ease supply disruptions from the key Middle East producing region, following reports that the US had presented Iran with a 15-point proposal to end the conflict.On the domestic front, foreign institutional investors remained net sellers, offloading shares worth Rs 8,009.56 crore on Tuesday, while domestic institutional investors provided some support by purchasing equities worth Rs 5,867.15 crore.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

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Gold, Silver Rate Today Live Updates: Gold, silver prices up, precious metals rally strongly after crash as worries on US-Iran war ease; what should investors do?
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Gold, Silver Rate Today Live Updates: Gold, silver prices up, precious metals rally strongly after crash as worries on US-Iran war ease; what should investors do?

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Gold and silver prices rebounded sharply on Wednesday on the Multi Commodity Exchange of India after witnessing heavy selling in the previous two sessions. The recovery was aided by a softer dollar, while easing oil prices helped reduce concerns over inflation and the trajectory of global interest rates.

US President Donald Trump said that Washington and Tehran are “currently in negotiations” and indicated that Iran is keen to reach a peace agreement, although the country has denied engaging in any direct talks with the United States.

On the MCX, silver futures for May 2026 delivery rose by Rs 12,196, or 5.4%, to Rs 2,36,137 per kilogram. Gold futures for April 2026 delivery also advanced, gaining Rs 5,522, or 4%, to Rs 1,44,434 per 10 grams.

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