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What is the story about?
Indian markets witnessed another brutal selloff on Tuesday, with benchmark indices extending losses for a third straight session as investors grappled with surging crude oil prices, escalating US-Iran tensions and fears of prolonged economic strain. The Sensex plunged nearly 1,500 points, while investors lost close to ₹12 lakh crore in market capitalisation amid broad-based selling across sectors. The rupee also hit a record low against the dollar.
Retail inflation climbed to a 13-month high in April, though economists warned the current reading may not yet fully reflect the impact of elevated oil prices and potential fuel price hikes. Adding to market anxiety, Kotak Mahindra Bank founder Uday Kotak cautioned that India was yet to experience the full impact of the Gulf conflict and urged the country to “prepare for paranoia before the event”.
Meanwhile, geopolitical tensions intensified after Donald Trump rejected Iran’s ceasefire proposal, while the Centre cancelled the NEET-UG examination over alleged paper leak irregularities.
Here are the top 10 stories shaping business and policy today.
Explained - What led to Tuesday's ₹12 lakh crore rout on Dalal Street
Indian equity benchmarks ended sharply lower on Tuesday, marking a third straight session of losses as a broad-based selloff across sectors dragged the Sensex down nearly 1,500 points and wiped out almost ₹12 lakh crore in investor wealth.
Read more
Also read: Rupee hits all-time low of 95.73 against dollar
India April CPI inflation hits 13-month high at 3.48%, stays below 4% mark
India’s retail inflation accelerated to a 13-month high in April, driven by higher prices of food, clothing, housing and services, even as the headline print came in below market expectations.
Read more
Donald Trump says Iran ceasefire is 'on life support'
US President Donald Trump said on Monday that a ceasefire with Iran was "on life support" after Tehran's response to a US proposal to end the war made clear the two sides were still far apart on several issues.
Read more
Oil Minister Hardeep Singh Puri says no election-link, but does not rule out fuel price hike
India’s Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday, May 12, dismissed suggestions that fuel price decisions are linked to elections, while acknowledging that future price increases cannot be ruled out amid continuing global uncertainty.
Read more
Royalty cuts will improve returns for oil explorers, says ICRA
Prashant Vashisht, Senior Vice President and Co-Group Head of ICRA, said the government’s decision to reduce effective royalty rates on oil and gas production could support investments in India’s upstream energy sector by improving project economics for exploration companies.
Read more
Uday Kotak warns India yet to feel heat of Gulf war
Watch: Why Uday Kotak warns the world is returning to a tribal mindset
Former banker Uday Kotak has said the world is witnessing a return of a “tribal mindset”, with control over tangible assets getting concentrated in a few hands.
Read more
Musk, Cook set to join Trump for Xi summit, White House says
The White House is inviting Tesla Inc.’s Elon Musk, Apple Inc.’s Tim Cook and Boeing Co.’s Kelly Ortberg and executives from other large companies to accompany President Donald Trump on his trip to China this week, according to an official.
Read more
AIADMK confirms it proposed alliance with DMK to form Tamil Nadu govt
The All India Anna Dravida Munnetra Kazhagam (AIADMK) party confirmed on Tuesday, May 12, that it proposed an alliance with the Dravida Munnetra Kazhagam (DMK) to form the Tamil Nadu government.
Read more
NEET UG 2026 retest announced: What students need to know after exam cancellation
India’s National Testing Agency said on Tuesday, May 12, it has cancelled the NEET (UG) 2026 medical entrance examination held on May 3 and will conduct the test again. Dates for the retest will be announced later.
Read more
Also read: CBI files FIR in NEET-UG 2026 paper leak case after exam cancellation
Jewar airport is unattractive and costlier for passengers, say airlines
India’s newest greenfield airport project, the upcoming Noida International Airport at Jewar, is staring at a fresh challenge even before commercial operations begin.
Read more
We'll see you on Wednesday with another engaging 'Top 10@10’
Retail inflation climbed to a 13-month high in April, though economists warned the current reading may not yet fully reflect the impact of elevated oil prices and potential fuel price hikes. Adding to market anxiety, Kotak Mahindra Bank founder Uday Kotak cautioned that India was yet to experience the full impact of the Gulf conflict and urged the country to “prepare for paranoia before the event”.
Meanwhile, geopolitical tensions intensified after Donald Trump rejected Iran’s ceasefire proposal, while the Centre cancelled the NEET-UG examination over alleged paper leak irregularities.
Here are the top 10 stories shaping business and policy today.
Explained - What led to Tuesday's ₹12 lakh crore rout on Dalal Street
Indian equity benchmarks ended sharply lower on Tuesday, marking a third straight session of losses as a broad-based selloff across sectors dragged the Sensex down nearly 1,500 points and wiped out almost ₹12 lakh crore in investor wealth.
Read more
Also read: Rupee hits all-time low of 95.73 against dollar
India April CPI inflation hits 13-month high at 3.48%, stays below 4% mark
India’s retail inflation accelerated to a 13-month high in April, driven by higher prices of food, clothing, housing and services, even as the headline print came in below market expectations.
Read more
Donald Trump says Iran ceasefire is 'on life support'
US President Donald Trump said on Monday that a ceasefire with Iran was "on life support" after Tehran's response to a US proposal to end the war made clear the two sides were still far apart on several issues.
Read more
Oil Minister Hardeep Singh Puri says no election-link, but does not rule out fuel price hike
India’s Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday, May 12, dismissed suggestions that fuel price decisions are linked to elections, while acknowledging that future price increases cannot be ruled out amid continuing global uncertainty.
Read more
Royalty cuts will improve returns for oil explorers, says ICRA
Prashant Vashisht, Senior Vice President and Co-Group Head of ICRA, said the government’s decision to reduce effective royalty rates on oil and gas production could support investments in India’s upstream energy sector by improving project economics for exploration companies.
Read more
Uday Kotak warns India yet to feel heat of Gulf war
Watch: Why Uday Kotak warns the world is returning to a tribal mindset
Former banker Uday Kotak has said the world is witnessing a return of a “tribal mindset”, with control over tangible assets getting concentrated in a few hands.
Read more
Musk, Cook set to join Trump for Xi summit, White House says
The White House is inviting Tesla Inc.’s Elon Musk, Apple Inc.’s Tim Cook and Boeing Co.’s Kelly Ortberg and executives from other large companies to accompany President Donald Trump on his trip to China this week, according to an official.
Read more
AIADMK confirms it proposed alliance with DMK to form Tamil Nadu govt
The All India Anna Dravida Munnetra Kazhagam (AIADMK) party confirmed on Tuesday, May 12, that it proposed an alliance with the Dravida Munnetra Kazhagam (DMK) to form the Tamil Nadu government.
Read more
NEET UG 2026 retest announced: What students need to know after exam cancellation
India’s National Testing Agency said on Tuesday, May 12, it has cancelled the NEET (UG) 2026 medical entrance examination held on May 3 and will conduct the test again. Dates for the retest will be announced later.
Read more
Also read: CBI files FIR in NEET-UG 2026 paper leak case after exam cancellation
Jewar airport is unattractive and costlier for passengers, say airlines
India’s newest greenfield airport project, the upcoming Noida International Airport at Jewar, is staring at a fresh challenge even before commercial operations begin.
Read more
We'll see you on Wednesday with another engaging 'Top 10@10’
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