Market Bizzz

Oil prices have surged to their highest in nearly four years. Iraq declared force majeure on oilfields. The U.S. is deploying more troops to the Middle East amid escalating Iran tensions. Attacks on energy infrastructure continue. The Strait of Hormuz remains disrupted. Analysts expect prices to stay elevated. Restoration of oil flows could take months.

Goldman Sachs and ICICI Prudential Mutual Fund acquired significant stakes in DLF Limited via block deals worth Rs 231 crore, even as the stock lags benchmarks and trades below key moving averages.

HDFC Bank’s ADRs continued to fall following a sharp 5% drop in its stock, triggered by the former chairman’s resignation over ethical concerns. Despite management’s reassurances and the appointment of an interim chairman, investor nerves remain unsettled.

Oil prices dropped Friday after Israel announced it would stop targeting Iran’s energy infrastructure. This followed a U.S. presidential statement. Brent and WTI crude futures saw declines. Despite this, Brent was set for a weekly gain due to supply disruptions. Experts predict prices could rise significantly if the conflict escalates.

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HDFC Bank faces potential selling pressure as its part-time Chairman, Atanu Chakraborty, resigned citing ethical concerns over recent bank practices. Keki Mistry has been appointed interim chairman. Chakraborty’s departure follows a period of significant events, including the merger with HDFC, which has yet to fully yield benefits.

U.S. crude futures rose more than 3% to $99.39 per barrel. Natural gas prices climbed over 5%, while Brent crude touched $111.19 in early trade and extended gains by another 4% this morning to $112 per barrel, moving closer to the initial war peak of $120.

Gold prices saw a slight increase on Thursday after hitting a one-month low. However, a strong dollar and the Federal Reserve’s hawkish stance limited further gains. Oil prices surged above $110 a barrel following an attack on Iranian energy facilities. This has raised inflation concerns. The US and Canada central banks held rates steady but warned of persistent inflation risks.

Urban Company shares will be in focus after early investors offloaded a 4.6% stake worth Rs 734 crore following the expiry of the lock-in period. While institutional buying provided some support, the stock remains under pressure amid recent declines and continued investments impacting profitability despite steady revenue growth.