September 18, 2026

TOP NEWS

War Update: The biggest development is that President Trump has said he is approaching a ‘big decision’ on Iran, raising the risk of further escalation. At the same time, Iran continues to restrict shipping through the Strait of Hormuz, which remains the key market-sensitive issue. We are also seeing an escalation involving the Houthis and Saudi Arabia, with Houthi attacks and Saudi retaliation adding another layer of risk. This is important because both Hormuz and Bab el-Mandeb are critical energy and shipping routes. There has also been pressure on Saudi energy infrastructure, including disruption to its East-West oil pipeline. Brent remains above $100 a barrel, although prices have eased somewhat on expectations that alternative routes and partial capacity restoration could limit the supply shock. On the geopolitical side, Pakistan, Saudi Arabia and Turkey are increasingly involved diplomatically, while the US has also approved a potential $24.3 billion sale of 48 F-35s to Saudi Arabia. From a market perspective, the three things to watch are Trump’s next decision on Iran, actual shipping flows through Hormuz, and whether oil can sustain levels above $100.

 

GPT Infraprojects: The company has  Secured a Rs. 483.72 crore order from RVNL for construction of a major railway bridge over the Mahanadi River in Odisha. The project involves a 32×65.84m Open Web Steel Girder and is to be completed in 1,095 days.

 

PLL: Approved a 50:50 JV with Gruner Renewable Energy to develop 10 CBG plants, each with 18 MT/day capacity, across India. The planned total capital outlay is ~Rs. 1,200 crore.

 

Bharat Electronics: The company Gets additional orders worth Rs 648 crore since Aug. 26

 

Skyways Air Q1:Revenue up 93.1% to Rs 1,217 crore versus Rs 630 crore YoY,Ebitda at Rs 49.9 crore versus Rs 18.3 crore YoY,Ebitda margin at 4.1% versus 2.9% YoY,Net profit at Rs 19.7 crore versus Rs 6.8 crore YoY

 

IndiGo : The company has revised the charges for excess baggage, infant tickets, travel arrangements for unaccompanied children, and the airline's Fast Forward priority service. For passengers travelling with more luggage than their permitted allowance, the revised rate is now Rs 800 per additional kilogram, compared with the earlier charge of Rs 700 per kg. Booking an infant ticket will now cost Rs 3,000, compared with Rs 2,000 previously. The Fast Forward facility, which provides priority check-in and boarding, will now cost Rs 650, instead of Rs 500, according to sources.

 

 

MACRO WRAP

  • The main theme overnight was a rebound in global equities and bonds as lower oil prices eased concerns over the inflation outlook. US equities posted their strongest gain in six weeks, led by technology and semiconductor shares, while the US 10Y Treasury yield fell back below 5%. Brent crude fell for a second consecutive session as Saudi Arabia moved closer to partially restoring the East-West pipeline. The USD was little changed, while gold rebounded sharply.
  • The Fed funds futures are pricing in 13bp hike by October 2026, 31bp by December 2026, and 69bp by June 2027, and 72bp by December 2027. The DJIA, S&P500, and Nasdaq Composite rose 0.6%, 1.1% and 1.7% respectively.
  • The Philadelphia Semiconductor Index rose 3.1%. The Euro Stoxx 50 rose 0.9%. The Dollar Index was unchanged at 100.25, and EUR-USD rose 10 pips to 1.1480. The US 2Y Treasury yield fell 7bp to 4.66%.
  • The US 10Y yield fell 9bp to 4.93%, snapping an eight-day increase. The US 30Y yield fell 8bp to 5.29%. The German 10Y yield fell 3bp to 3.48%. The UK 10Y yield fell 7bp to 5.22%. Brent oil prices fell 1% to USD104.82. Gold rebounded 1.8% to USD4,342.
  • The Bank of England (BoE) left Bank Rate unchanged at 3.75% yesterday but warned that further tightening could be required if the Middle East energy shock generates more persistent inflation.
  • Japan's August CPI released this morning came in slightly below expectations. Headline inflation was unchanged from last month at 1.9% yoy , while core CPI, which excludes fresh food, softened to 1.7% vs 1.8% in July. Although inflation slowed for the first time in four months in August, this was largely a reflection of ongoing government subsidies.
  • Preliminary shipping data released Friday show four bulk commodity carriers transited the Strait of Hormuz on Thursday, down from six the previous day and below the roughly 16-vessel 10-day average. Counts may change because some ships commonly switch off AIS transponders while underway.
  • For today, the main event in Asia is the Bank of Japan (BoJ) meeting. BoJ is widely expected to raise its policy rate by 25bp to 1.25%, the highest since 1993, marking its second increase in three months

OTHER NEWS

Investments under the automobile productior linked incentive scheme have surpassed Rs 45,000 crore. The qovernment's policy support aids domestic manufacturing and charging infrastructure development. Original equipment manufacturers are producing electric vehicles under this sianificant program. India can develop cost-effective solutions for emerging global markets. Electric buses and trucks offer cheaper running costs and reduce oil dependence.