Benchmark indices ended sharply higher, reversing earlier losses for the week on the back of strong Friday gains. The NSE Nifty 50 rose 1.99% to close at 23,622.90, up 461.30 points. The BSE Sensex climbed 2.30% to 75,527.95, gaining 1,695.40 points. Both indices turned positive for the week, with Nifty and Sensex ending higher after earlier declines between Monday and Thursday. The rebound came after optimism around a potential US-Iran deal lifted sentiment across global markets and eased risk concerns. Meanwhile, crude prices declined in early Asia trading on Friday after US President Donald Trump said Washington and Tehran had reached a framework agreement, raising hopes of easing tensions in the Middle East. WTI crude futures for July delivery dropped 1.65% to $86.26 per barrel. Brent crude fell 4.6% to $86.3 per barrel. The slump in crude oil prices came after a draft memorandum between the US and Iran includes provisions to ease tensions and restore energy flows, a...
A low-pressure system over the Bay of Bengal has intensified into cyclonic storm 'Remal' and is expected to make landfall between West Bengal's Sagar Island and Bangladesh's Khepupara at midnight on Sunday, the IMD said.
This is the first cyclone in the Bay of Bengal this pre-monsoon season.
The deep depression over the east-central Bay of Bengal intensified into a cyclonic storm 'Remal' and was centred approximately 360 km south-southeast of Khepupara and 350 km south-southeast of Sagar Island, according to an update issued by the India Meteorological Department (IMD) at 7:50 pm on Saturday.
The storm is likely to intensify further into a severe cyclonic storm by Sunday morning and is expected to cross the West Bengal and adjoining Bangladesh coasts between Sagar Island and Khepupara with wind speeds of 110 to 120 km/hr, gusting to 135 km/hr around midnight on Sunday, the IMD said.
The Met Office has warned of extremely heavy rainfall in the coastal districts of West Bengal and north Odisha on May 26-27. Parts of northeast India may also experience extremely heavy precipitation on May 27-28.
A storm surge of up to 1.5 meters is expected to inundate low-lying areas of coastal West Bengal and Bangladesh at the time of landfall.
The weather office advised fishermen not to venture into the sea in the north Bay of Bengal until the morning of May 27.
A red alert was issued for the coastal districts of South and North 24 Parganas in West Bengal for May 26-27, where extremely heavy rain is expected in some areas.
An orange alert is in place for Kolkata, Howrah, Nadia, and Purba Medinipur districts, warning of wind speeds of 80 to 90 km/hr, gusting to 100 km/hr, and heavy to very heavy rainfall at some places on May 26-27.
In north Odisha, the coastal districts of Balasore, Bhadrak, and Kendrapara will receive heavy rains on May 26-27, while heavy precipitation is likely in Mayurbhanj on May 27.
The IMD has warned of localised flooding and significant damage to vulnerable structures, power and communication lines, kutcha roads, crops, and orchards in South and North 24 Parganas districts of West Bengal.
People in the affected areas have been advised to remain indoors.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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