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US-Iran Conflict, Oil Rally, Modi-Putin Talks, NSE IPO & More - The Week That Was

The week starting on September 7 remained highly volatile for markets with a mix of global uncertainty, rising oil prices and expectations of interest rates hike by US Federal Reserve, while corporate India saw several important developments. Here are few top stories from this week -
US-Iran Conflict
Tensions between US and Iran escalated again this week following a brief pause as US Central Command (CENTCOM) reported that the American forces attacked five Iranian oil tankers in the Gulf of Oman and near Kharg Island. Iran responded by launching ballistic missiles at a US base in Jordan and targeted multiple commercial and military vessels near the Strait of Hormuz.

Oil Prices Cross $100
Oil prices rose over $100 a barrel this week, for the first time in nearly four months, even  hitting $109 before retreating on Friday. Crude prices are track for a weekly gain of around 8% to 9%.  Following this surge, benchmark indices such as Sensex and Nifty fell, posting consecutive sessions of losses, while Wall Street and Asian markets also declined. 

Modi-Putin Talks

Ahead of BRICS Summit, Prime Minister Narendra Modi conducted bilateral talks with Russian President Vladimir Putin on Friday, September 11. PM Modi raised the issue of  the safety of Indian seafarers in the Black Sea, and emphasised India's support for any peace initiative to end the Ukraine conflict as both leaders agreed boost bilateral trade ties amid ongoing geopoltical uncertainties.

ALSO READ: SEBI To Issue CAS Consultation Paper On Saturday; Derivative Settlement Price Methodology May See Tweak

NSE IPO Price Band
On Friday, September 11, National Stock Exchange (NSE) announced price band for its much awaited initial public offering (IPO). The public issue will open for subscription on September 17, paving the way for the bourse's listing and close on September 21. The bidding for anchor investors will take place on September 16. NSE IPO price band has been set at Rs 1,700 to Rs 1,785 per share, according to the red herring prospectus (RHP). The IPO lot size is 8 shares, and the minimum investment amount required by a retail investor is Rs 14,280.

US Inflation Data
The US consumer price index rose by more than expected last month, strengtehning the case for Federal Reserve officials to raise interest rates next week. The consumer price index, excluding food and energy, advanced 0.3% in August from a month earlier, according to Bureau of Labor Statistics data released on Friday. According to Bloomberg median estimate, 0.2% increase was estimated. 
 

Global Fintech Fest 

The Global Fintech Fest (GFF), annual gathering focused fintech and the wider financial services ecosystem, with participation from more than 80 countries was conducted from September 8 to September 11, 2026. PM Narendra Modi, Finance Minister Nirmala Sitharaman, RBI Governor Sanjay Malhotra, SEBI Chairman Tuhin Kanta Pandey were some of the notable speakers at the event.

ALSO READ: NSE IPO: No Application Filed With SEBI To Trade Own Shares On NSE, Says MD



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