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Indian stock markets dive amid Middle East escalation
Indian stock markets dive amid Middle East escalation
Mahima Kapoor with AP, AFP and ReutersPublished 06/08/2026Published June 8, 2026last updated 06/08/2026last updated June 8, 2026India's Sensex and Nifty have fallen over 13% and 10% in 2026, hurting retail investors. Monday's stock losses only add to that pain. Meanwhile, Kerala is in danger of landslides amid monsoon showers. Follow live.
https://p.dw.com/p/5Ez8nWhat you need to know
- India's Sensex and Nifty traded 0.7% lower an hour after opening
- Markets are reacting to Middle East tensions, higher crude prices and possible Fed hikes
- Indian oil minister says expansion of Gulf crisis would be worrying
- Commerce minister plays down proposed new US tariffs
- Four Indian sailors rescued from moored ship after 10 months
Here's a roundup of the biggest headlines from India on Monday, June 8, 2026:
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Skip next section Vessel with 24 Indians issues SOS near Strait of Hormuz06/08/2026June 8, 2026Vessel with 24 Indians issues SOS near Strait of Hormuz
A cargo vessel with 24 Indians on board issued a distress call on Monday, while it was sailing off the coast of Oman, near the Strait of Hormuz.
Indian media initially reported that the vessel MT Merry Vex had been attacked. However, Opesh Kumar Sharma, a Shipping Ministry official, later told reporters that a fire had broken out on the ship.
The Forward Seamen's Union of India (FSUI) posted a video of the ship with black smoke visibly rising from one end and an unidentified vessel in the water close by. The post tagged the Indian Navy, India's Foreign Ministry, Shipping Ministry, and the International Transport Workers' Federation.
The FSUI is a prominent private maritime union body that advocates for the rights and fair wages of Indian sailors.
The Indian Embassy in Oman replied to the video post asking for a contact number. It later said it had made contact.
Less than two hours later, the FSUI's social media account posted another video of the ship's crew members being evacuated.
https://p.dw.com/p/5F0LSSkip next section Thousands march in Manipur to demand NRC updating ahead of census06/08/2026June 8, 2026Thousands march in Manipur to demand NRC updating ahead of census
Thousands of residents came out in Manipur on Monday, demanding that authorities update the controversial National Register of Citizens (NRC) before theonce-in-a-decade census is conducted in the northeastern state.
The rally was organized by 14 civil society organizations, according to the news agency Press Trust of India. It covered 5 kilometers (3.1 miles) in the state capital of Imphal, amid tight security.
The protesters held placards reading "Do not neglect Manipur" and "No NRC update, no census," while they demanded illegal migrants be identified and deported.
The NRC is part of the Modi government's effort to identify and weed out people it claims came to India illegally. It has already been implemented in the northeastern state of Assam, resulting in nearly 2 million people, including both Hindus and Muslims, being excluded from Indian citizenship.
Demands for the same have been growing in Manipur, where residents fear illegal infiltration from its border with Myanmar.
Manipur has been facing unresolved, worsening ethnic conflict, despite government efforts to resolve the tensions and find lasting peace.
The ethnic tensions play into the demand for the NRC, where two prominent ethnic groups have asked for a citizenship check, alleging that many of the rival ethnic group's residents are illegal immigrants from Myanmar who aim to keep the state in turmoil.
World's largest census underway in India
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https://p.dw.com/p/5F0ZPSkip next section Four Indian sailors evacuated after being stranded for 10 months06/08/2026June 8, 2026Four Indian sailors evacuated after being stranded for 10 months
Four Indian seafarers, who were stranded on an abandoned container ship off the coast of Turkey, were finally taken off the vessel, the AFP news agency reported, citing an inspector.
The sailors were trapped on board the Mongolia-flagged AZRA C, which had been moored off Istanbul since August 2025. The ship's alleged owners were arrested in January over a massive international drug bust. That left the fate of the vessel and its crew in limbo.
Before they were rescued, the sailors complained to AFP about the toll it was taking on their mental and physical health.
"Every day we are losing hope and facing increasing mental pressure and health problems," one Indian crew member said via an intermediary, asking not to be named.
"We are searching for new ways to overcome this situation ... We have no words to describe (it)," he said.
https://p.dw.com/p/5EzwwSkip next section Middle East crisis expanding would be 'worrying,' says Indian oil minister06/08/2026June 8, 2026Middle East crisis expanding would be 'worrying,' says Indian oil minister
The possibility of the Gulf crisis expanding to other areas would create series of new problems and be worrying, Indian Oil Minister Haredeep Singh Puri said in an interview to news channel CNN-News 18 on Monday.
"It may remain a conflict not confined to that theater … you know you could have problems elsewhere. Maybe some other theater starts off. That would be worrying," Puri said.
At the same time, he assured citizens that New Delhi has oil and gas reserves to last 75-80 days. That is on the higher side of India's strategic reserves capacity.
https://p.dw.com/p/5EztzSkip next section India urges citizens to leave Iran in fresh travel advisory06/08/2026June 8, 2026India urges citizens to leave Iran in fresh travel advisory
India on Monday urged all its citizens in Iran to "exit the country by available means of transport," as Israel and Iran traded strikes amid escalating tensions.
The Indian Embassy in Iran posted the fresh warning in a brief statement on X. It also reiterated its earlier warning for Indians to avoid travel to the country.
"In view of the latest developments in the Region, the Embassy reiterates its earlier advice to all Indian Nationals to avoid any travel to Iran," the statement read.
https://p.dw.com/p/5EzkMSkip next section 'We will tackle it': India's commerce minister on fresh US tariffs06/08/2026June 8, 2026'We will tackle it': India's commerce minister on fresh US tariffs
Days after the Trump administration proposed a new 12.5% tariff on Indian goods, Indian Commerce and Industry Minister Miyush Goyal said there was no need to worry and that "we will tackle it."
Goyal made the comments at an event hosted by news outlet The Financial Express on Sunday.
Last week, the US Trade Representative (USTR) said 60 countries had failed an investigation into the prohibition of import goods made with forced labor. India was one of those countries, falling into the 12.5% proposed tariff category.
This comes as India is already negotiating a final trade deal with the US after a 50% tariff was imposed on Indian goods. That was one of the highest tariffs levied on any country by the Trump administration, straining ties between New Delhi and Washington.
However, the Indian minister downplayed the threat.
"The (Section 301) investigation is directed at a particular country," Goyal said, without naming China, according to Financial Express.
"We will protect India's interests, and I'm very confident that the (India-US trade) deal will come through. It'll be a good deal," he said.
Diplomatic ties between New Delhi and Washington have been tense over the last year as a result of Trump's insistence on brokering peace between India and Pakistan, massive tariffs partly over India's import of Russian oil, and a series of less-than-friendly remarks towards India.
US top diplomat Marco Rubio in India to renew strained ties
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https://p.dw.com/p/5EzHxSkip next section Monsoons hit Kerala, IMD warns of floods and mudslides 06/08/2026June 8, 2026Monsoons hit Kerala, IMD warns of floods and mudslides
India's national weather agency has warned residents of Kerala about the risk of floods and landslides as monsoons hit the southern state.
The India Meteorological Department (IMD) issued an orange alert for some districts and a yellow alert for others. The weather agency grades heavy rainfall in India on a scale of green, yellow, orange, and red levels. Yellow means 'watch,' while orange means 'alert,' as per the IMD website.
Heavy rainfall is likely to continue in Kerala and the Lakshadweep islands for the next week.
Authorities warned that the rain could trigger flash floods, waterlogging, and mudslides in certain pockets.
Monsoons are a vital part of India's weather system and critical to Indian agriculture and the success of crops.
India's 'liquid trees' could help cities breathe again
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https://p.dw.com/p/5EzEFSkip next section Indian markets fall over crude, possible Fed hike and Middle East escalation06/08/2026June 8, 2026Indian markets fall over crude, possible Fed hike and Middle East escalation
Indian equities opened deep in the red on Monday as the two benchmark indices — the National Stock Exchange's Nifty 50 and Bombay Stock Exchange's Sensex –— fell over 1%.
The fall was largely expected due to escalating tensions in the Middle East, rising crude oil prices, which India is particularly sensitive to, and rising bets on a US Federal Reserve rate hike.
The Sensex opened 1.1% lower, falling about 800 points, while the Nifty opened 1.2% lower, falling over 280 points. Both indices partially recovered within the hour but were still trading about 0.7% lower.
India was among the several Asian markets facing losses on Monday morning. This came as Iran and Israel fired missiles at each other, dampening any hopes of a peace deal brokered by US President Donald Trump.
Japan's Nikkei fell 3.4% while South Korean Kospi was down 6.81%.
Meanwhile, the global Price of Brent crude — a key import for India — rose 2.4 % to $95.32 per barrel.
Possible Fed hike weighs on Indian market
Global analysts are betting on a US Fed rate hike after the latest US Jobs Report showed the economy was strengthening despite energy price strains from the Middle East conflict.
"That combination makes policy tightening by the Fed later this year increasingly probable ... we now expect the FOMC to deliver two 25-basis-point rate hikes later this year," said Jonas Goltermann, chief markets economist at Capital Economics.
A Fed hike will likely prompt global investors to withdraw capital from emerging markets like India and inject it into US markets, offering higher returns.
https://p.dw.com/p/5Ez8qSkip next section Welcome to our coverage06/08/2026June 8, 2026Welcome to our coverage
Good morning! Welcome to DW's India news blog.
This is Mahima Kapoor from the New Delhi Bureau, here to bring you the biggest headlines of the day with context that puts the news into perspective.
India's stock markets fell sharply on Monday amid multiple global triggers, including escalating tensions in the Middle East and higher crude prices. The country's retail investors, aka regular folks who have pumped in an average of $2 billion every month for the last five years, are likely facing the worst of this pain.
Monsoon rainfall is hitting the southern state of Kerala, with the national weather agency issuing orange and yellow alerts in different parts. Authorities warned of landslides and flooding.
On the trade front, India's commerce minister has assured citizens that the government will tackle the new 12.5% Trump tariffs that were proposed last week over alleged failure to prohibit goods made from forced labor. India is currently negotiating a final trade deal with the US after the 2025 tariffs. Many fear that the new levies could worsen the already strained ties between New Delhi and Washington.
Stay tuned as we break down all of this, and more.
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