Market News Today

Landslide blocks NH-10, Sikkim's main road to West Bengal, stranding commuters. ₹394 crore and ₹125 crore sanctioned for mitigation projects, but disruptions continue.

Mumbai's suburban trains are getting a "metro-like" upgrade with AC and closed doors for increased safety and comfort, without fare hikes. Over 7.9 million commuters will benefit daily.

Asian naphtha refining margins dropped to their lowest in over a year due to rising crude oil prices following new EU sanctions on Russia, shrinking backwardation to 50 cents.

Asian diesel and cash differentials hit near 1.5-year highs due to positive sentiment in the West, driven by new Russian sanctions.

India relaxes sulfur emission norms for 79% of thermal power plants, citing low sulfur in domestic coal and high cost of FGD installation (₹2.54 lakh crore).

The EU plans to lower the Russian oil price cap from $60 to $45–50 per barrel, aiming to curb Moscow’s revenue. This could trigger crude price volatility and boost demand for discounted Russian oil from countries like India. Previously, Russia bypassed the cap’s impact by inflating freight and insurance costs, maintaining near-market earnings despite restrictions.

Structural steel prices continued their downward trajectory this week, particularly in the secondary market. Monsoon-related disruptions, delays in fund disbursement, and persistent liquidity constraints are weighing heavily on demand. While primary mills are holding prices firm, secondary mills are resorting to discounts to manage cash flow. The near-term outlook remains subdued until site activity gains momentum post-monsoon.

India's national highway network, now exceeding 1.46 lakh kilometers, is the world's second-largest. This growth has fueled job creation and economic prosperity through substantial government investment.

A new 5.5 km Ganga bridge in Malda, West Bengal, with a 2.58 km main span, is set to open in August, easing traffic on the existing Farakka Barrage bridge.

Navi Mumbai International Airport (NMIA) to launch 12-hour operations (8 AM–8 PM) initially, aiming to decongest existing Mumbai airport and boost regional economy.