Financial Summary: Tuesday, September 1, 2026

Tanker Attacks in Strait of Hormuz Spike Crude, Nifty Holds 24,000

Fresh attacks on oil tankers in the Strait of Hormuz have pushed up crude prices, bolstering energy stocks such as ONGC and Oil India. The Nifty closed at 24,055, holding above 24,000 despite a weak market, while the rupee reached a two-month high amid geopolitical tensions.

Trump vows to strike Iran hard as tanker hit in Hormuz, oil tops $91

Brent crude rose 0.6% to $91.05 a barrel as tensions escalated in the Strait of Hormuz, following a tanker strike and Trump's threats against Iran.

Trump seals 100-year Venezuela oil deal, $200B in royalties

The Trump administration has secured U.S.-backed NABEP a 100-year concession on 17 Venezuelan oil fields, committing to $200 billion in royalties and taxes over the first 25 years. Despite significant infrastructure challenges and legal uncertainties, the deal represents a major economic endeavor.

Rupee hits two-month high at 94.94 on RBI intervention, FCNR inflows

The Indian rupee strengthened to a two-month high of 94.94 per US dollar, bolstered by robust FCNR (B) deposit inflows and RBI intervention, while Nifty held above 24,000 after a volatile session, following an FII buying spree of ₹1,143 crore.

Oil surge pushes 10-year Treasury yield to 4.8%, stocks slide

The 10-year US Treasury yield reached its highest level since January 2025 at 4.8%, driven by rising oil prices and inflation concerns, leading to a broad stock market selloff. Uncertainty over the Fed's policy outlook adds to market volatility.

Rupee hits 2-month high at 94.96 as RBI intervention, GDP boost

The Indian rupee strengthened to a two-month high, opening at 94.96 against the US dollar, up 26 paise, driven by robust GDP growth and RBI intervention, despite pressures from rising oil prices and US Treasury yields.

ITC Infotech buys 22.1% stake in Happiest Minds; shares jump 4%

ITC Infotech, a subsidiary of ITC Ltd., acquired a 22.1% stake in Happiest Minds Technologies, leading to a 4% rally in ITC shares and an 8% drop in Happiest Minds shares.

GRT Jewellers to buy 74.12% TBZ stake; shares hit 20% upper circuit

GRT Jewellers has agreed to acquire a 74.12% stake in TBZ, triggering a mandatory open offer at a steep discount. TBZ shares rose 19.99% to Rs 366.80 on the NSE.

Milky Mist Dairy Q1 profit jumps 890% to Rs 64.68 crore, stock zooms 9.5%

Milky Mist Dairy Food reported a consolidated net profit of Rs 64.68 crore for Q1 June 2026, up 890.51% year-on-year, boosting shares by 9.5%.

India raises petrol export duty to ₹1.5/litre, hikes jet fuel 5.6%

India has revised its windfall tax on fuel exports effective September 1, raising the petrol export duty from zero to ₹1.5 per litre and diesel to ₹1 per litre, while cutting the ATF levy by ₹0.5 per litre. Concurrently, jet fuel prices have been hiked by 5.6% and commercial LPG by ₹10 per cylinder, reflecting broader energy price adjustments. The fortnightly revision marks a shift from the previous zero-duty stance on petrol, signaling tighter export taxation.

India's current account deficit widens to $4.2 bn in Q1FY27

India's current account deficit (CAD) widened to $4.2 billion (0.5% of GDP) in Q1FY27, up from $3.4 billion in the same quarter last year, driven by higher trade deficit and portfolio outflows. FPI outflows reached $9.6 billion during the quarter, adding pressure on the external account. The deficit remains manageable but signals growing external vulnerabilities.

NCLT larger bench stays Subhash Chandra's ₹6.5 crore repayment plan

A five-member NCLT bench has stayed the earlier approval of Subhash Chandra's ₹6.5 crore repayment plan, ruling that the previous order was not a majority view. The stay halts the plan's implementation, and lenders' appeal before NCLAT has been deferred. The case now hinges on the larger bench's final decision on the plan's validity.

New Apple CEO John Ternus faces AI, memory crunch in first week

Apple has officially transitioned to a new era under CEO John Ternus, who steps in amid intensifying AI competition and a memory-supply crunch that could impact product timelines. Ternus, previously Apple's hardware chief, brings deep engineering experience but faces immediate pressure to navigate AI strategy and component shortages. His personal background, including net worth and education, has also drawn public attention as investors assess his leadership style.