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She said human welfare needs a conducive environment without any disruptions or disturbances to make the post-pandemic economic recovery sustainable.

Resolution professional Saurabh Kumar Tikmani, backed by KPMG, received 11 expressions of interest in all. Twin Star Tech, an investment vehicle of Vedanta promoter Anil Agarwal and iLab India Special Situation Fund submitted an EoI each, people said.

Crude traded between $98 and $102 per barrel in international markets during the day.

The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, meets on March 2 to decide whether to increase output by 400,000 barrels per day (bpd) in April. OPEC+ was formed in 2016 to coordinate output cuts it is now unwinded which were put in place to address an earlier glut and then weakened demand during the pandemic.

The Sensex ended 1,328.61 points or 2.4% up at 55,858.52 and the Nifty closed 410.45 points or 2.5% higher at 16,658.40. With this bounce, both indices snapped their seven-day losing run but market participants are not sure if the newfound strength will continue. The Sensex had dropped 4.7% and the Nifty fell 4.8% on Thursday.

Markets regulator Sebi has proposed allowing foreign portfolio investors (FPIs) to participate in the exchange-traded commodity derivatives market. In its consultation paper, the regulator has suggested that FPIs should be allowed to trade in all non-agricultural commodity derivatives and a few selected broad agricultural commodity derivatives, to begin with.

Crude and refined oil products from Russia, Azerbaijan and Kazakhstan pass through export terminals on the sea’s eastern edge. On the west lie countries that depend on ships hauling crude to meet their energy needs. Known as one of the world’s breadbaskets, the region supplies tens of millions of tons of grain and vegetable oils annually from its ports.

Markets globally witnessed carnage this week owing to the war-like situation and geopolitical tensions between Russia and Ukraine. Our frontline indices not being immune to these global jitters faced a similar atrocity. This led to a 3.58% decline for the week and as fears intensified, India VIX touched its highest level since June 2020.

Bharti Airtel Friday said it has entered into an agreement to acquire a 4.7% stake in Indus Towers from UK’s Vodafone Group Plc in cash via a block deal. The deal will boost Airtel’s stake in Indus to 46.4%.

Not raising the reverse repo rate, or the rate at which the central bank borrows from high-street lenders, could make the benchmark ‘irrelevant’ as rates on the ground exceed those on paper, Prof JR Varma, external member of the central bank’s Monetary Policy Committee (MPC) says.