The market mayhem continued today even after the government announced a steep Rs 10/liter cut in excise duty on petrol and diesel effective immediately. The main stock indices are down over 1.7% each after two days of rally wherein they had gained 3.5% each. Bond yields edge up to 6.855% today while Brent crude was trading above $107 a barrel. Since the war began crude prices have surged over 45% while gas prices rose more than 50%. Rising crude prices pose serious threat to a net oil importer like India which meets as much as 85% of its oil needs.

Source: Indian Express March 27, 2026 04:45 UTC