Savings Effect

Oil prices jumped $3 a barrel on Monday as the US and Iran failed ​to agree to a peace proposal drafted by ​Washington while the Strait of Hormuz remained largely closed, keeping ‌global energy supplies tight. Brent crude futures climbed $3.18 or 3.14% to $104.47 a barrel by 2336 GMT, extending a 1.23% gain on Friday.

The US said it expected an Iranian response as soon as later in the day to its latest proposal to end the war in the Gulf, even as US and Iranian forces clashed in the Gulf and the UAE came under renewed attack. Recent days have seen the biggest flare-ups in fighting in and around the contested Strait of Hormuz since a ceasefire began a month ago, even as the United States and Iran have indicated they are closer than ever to a deal to end the war.

An Indian sailor was killed and several others injured after their wooden dhow caught fire near the Strait of Hormuz, government sources said on Saturday Seventeen other Indian crew members were rescued following the incident on Friday, they said, noting that the exact cause of the blaze is still being ascertained.

Congress leader Rahul Gandhi on Friday launched a scathing attack on the BJP, alleging it has established a system to "steal" elections but said people have understood this and it will have to face public anger. Addressing a gathering here this evening after participating in the 'Sadbhav Yatra' of Haryana Congress leader Brijendra Singh, he accused the BJP of stealing elections in Madhya Pradesh, Haryana and Maharashtra and recently in West Bengal and Assam.

Delhi witnessed a cooler morning after recent rainfall as IMD forecast thunderstorms, gusty winds and heavy rain across several states, while heatwave conditions persist in west India

The Indian stock market is likely to continue its losing streak as trends in the Gift Nifty index signalled a negative opening on Monday. Amid this backdrop, these stocks will remain in focus on 11 May.

JSW STEEL: CO DECLARED "PREFERRED BIDDER" FOR THE PISSURLEM MINERAL BLOCK NO. XV IN GOA; THE CO SECURED THE BLOCK WITH A FINAL OFFER PRICE OF 118.10% OF THE "VALUE OF MINERAL DISPATCHED

KIMS HOSPITALS: CO SIGNS A 60-YEAR LEASE AGREEMENT WITH APCRDA FOR 2 ACRES OF LAND IN AMARAVATI, ANDHRA PRADESH; THE CO PLANS TO DEVELOP A NEW 500-BED MULTI-SPECIALITY HOSPITAL

INNOMET ADVANCED MATERIALS: CO BAGS A SIGNIFICANT INTERNATIONAL PURCHASE ORDER FROM ISRAEL-BASED SCOPE METALS GROUP; THE ORDER IS VALUED AT $1.60 MILLION