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Brent crude futures shot up to $82.37, the highest since January 2025, in the first futures trading after the U.S. and Israel launched strikes on Iran and ‌killed its Supreme Leader ⁠Ali ⁠Khamenei on Saturday. As of 0054 GMT, Brent futures were at $78.24 a barrel, up $5.37, or 7.37%.

Gold prices saw a significant jump on Monday. This surge followed major strikes by the U.S. and Israel on Iran, leading to the death of Supreme Leader Ayatollah Ali Khamenei. The events have heightened global tensions and economic uncertainty. Gold, a traditional safe-haven asset, reached its highest point in over four weeks.

While policy rates in India are likely to stay at current levels or even go lower for an extended period, there are risks as well, Malhotra said. Inflation is looking benign and going forward, underlying inflation is expected to remain low. It will depend on growth-inflation dynamics as they play out. We are still living in very uncertain times, the RBI Guv added.

The Indian rupee is poised for a fall below 91.50 against the US dollar on Monday. Global oil prices and geopolitical tensions are driving this weakening. The Reserve Bank of India is expected to intervene to stabilize the currency. This comes after a period of revival for the rupee in February.

Several public charitable trusts have challenged the Income Tax Department’s insistence that trust deeds must explicitly state they are “irrevocable” to retain tax-exempt status. Trusts and professional bodies argue that the law does not require such a clause and that public trusts are inherently irrevocable unless expressly stated otherwise. The matter is now before the Bombay High Court, with concerns that denial of registration renewals could jeopardise longstanding charitable institutions.

State-owned GIC Re will withdraw Marine Hull War Risk cover from several high-risk regions starting in early March, including the Persian Gulf, Black Sea, and Red Sea, amid rising geopolitical tensions. Ship owners should review their insurance arrangements, as there will be no war risk protection from GIC Re for operations in these regions after the cut-off date.

The Emirates have been hit by Iranian strikes since Saturday in response to the joint Israeli-US attacks.

Sebi Chairperson Tuhin Kanta Pandey emphasized a principle-driven, data-backed approach to curb excessive speculation in equity derivatives, particularly focusing on short-tenor index options. He clarified that recent measures target specific pockets of speculation, not the entire derivatives market, aiming to preserve liquidity and market function while ensuring responsible operation.

Indian stock markets are bracing for a weak opening this week. Rising oil prices due to US-Israeli actions against Iran are a major concern. This geopolitical tension could push crude oil prices to $100 a barrel. Investors are likely to shift towards safe-haven assets like gold and the US dollar.