{"id":516,"date":"2026-05-11T05:50:04","date_gmt":"2026-05-11T05:50:04","guid":{"rendered":"https:\/\/dailypakistannews.com\/?p=516"},"modified":"2026-05-11T05:50:04","modified_gmt":"2026-05-11T05:50:04","slug":"india-stocks-rupee-fall-as-modi-urges-fuel-saving-amid-crude-spike","status":"publish","type":"post","link":"https:\/\/dailypakistannews.com\/?p=516","title":{"rendered":"India stocks, rupee fall as Modi urges fuel saving amid crude spike"},"content":{"rendered":"<p><a href=\"https:\/\/www.brecorder.com\/news\/40420237\"><strong>Indian shares<\/strong><\/a> <strong>and rupee declined on Monday, a day after Prime Minister Narendra Modi urged a spate of measures including fuel conservation, fewer imports and gold purchases as a surge in energy prices pressures the country\u2019s foreign exchange reserves.<\/strong><\/p>\n<p>India, the world\u2019s third-biggest oil importer and consumer, late last month said there was no proposal to raise pump prices for diesel and gasoline, leaving it among the countries yet to raise prices despite the global surge.<\/p>\n<p>\u201cPM\u2019s appeal to the nation is a crisis management response to the current account deficit problem due to high crude price and has slightly negative implications for economic growth in fiscal year 2027,\u201d said VK Vijayakumar, chief investment strategist at Geojit Investments.<\/p>\n<p>\u201cIndustries related to the austerity call like petroleum, chemical fertilisers, gold, air travel, hotel and related sectors are sentimentally impacted,\u201d Vijayakumar said.<\/p>\n<p>The Nifty 50 fell 1.16% to 23,894.60 as of 9:55 a.m. IST, while the BSE Sensex shed 1.28% to 76,331.84. The rupee declined 0.7% to below 95 per dollar, with the central bank likely stepping in to curb losses.<\/p>\n<p>Indian markets fell more sharply than their Asian peers.<\/p>\n<p>Brent crude jumped more than 4.5% to about $106 a barrel after U.S. President Donald Trump on Sunday dismissed the Iranian response to Washington\u2019s proposal for peace talks as \u201cunacceptable.\u201d<\/p>\n<p>All 16 major sectors logged losses. The broader small-caps and mid-caps declined 1.4% each.<\/p>\n<p>Oil marketing companies Indian Oil, BPCL and HPCL fell about 2.6%.<\/p>\n<p>Travel-linked stocks such as Indian Hotels, Lemon Tree, Chalet Hotels, Thomas Cook and Yatra Online dropped between 1.2% and 5.3%. Carrier IndiGo lost 4%.<\/p>\n<p>Shares of jewellers also fell. Titan, Senco Gold and Kalyan Jewellers lost between 7.6% and 11%.<\/p>\n<p>Bucking the broader trend, Hyundai Motor India rose 2.6% after reporting a smaller-than-expected fall in quarterly profit, aided by strong domestic and overseas demand. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian shares and rupee declined on Monday, a day after Prime Minister Narendra Modi urged a spate of measures including fuel conservation, fewer imports and gold purchases as a surge in energy prices pressures the country\u2019s foreign exchange reserves. India, the world\u2019s third-biggest oil importer and consumer, late last month said there was no proposal [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":517,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan-news"],"_links":{"self":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=516"}],"version-history":[{"count":0,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/516\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/media\/517"}],"wp:attachment":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}