Top News Headlines — March 29, 2026

🔴 Lead Stories

PM Modi assures Chief Ministers: "No lockdown"

• What happened: With the ongoing war in the Middle East and concerns over oil supplies, PM Modi held a virtual meeting with all state Chief Ministers. He made it clear that there will be no lockdown in the country.
• Why it matters: Social media had been buzzing with rumors about potential lockdowns and fuel shortages, causing public panic. The government has dismissed these claims as "completely false."

Finance Bill passes Rajya Sabha, Lok Sabha adjourned until March 30

• What happened: The Finance Bill was passed in the Rajya Sabha during the budget session following a debate. Proceedings in the Lok Sabha have now been adjourned until March 30.
• Why it matters: The passage of the Finance Bill clears the way for the tax changes and economic policies announced in the budget to come into legal effect.

Government: India has 60 days of oil and one month of LPG reserves

• What happened: The central government confirmed that India maintains a 60-day strategic oil reserve and about a one-month supply of LPG. Fuel supplies at pumps remain steady.
• Why it matters: This helps dispel rumors of fuel shortages stemming from the Iran conflict, which had been worrying the public.

Iran permits 5 "friendly nations," including India, to use the Strait of Hormuz

• What happened: Despite the ongoing war, Iran has allowed India, Pakistan, and three other nations to continue using the Strait of Hormuz for transit.
• Why it matters: The Strait of Hormuz is a critical global chokepoint for oil. Maintaining access is vital for India’s continued crude oil supply.

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Reuters: Iran war pushes India closer to Russia

• What happened: According to a Reuters report, the US-Iran conflict is leading India to reconsider increasing its imports of Russian crude oil. India had previously reduced Russian oil purchases earlier this year following a tariff agreement with the US.
• Why it matters: It highlights the balancing act of India's foreign and energy policy: managing ties with the US while securing essential energy imports from Russia.

💰 Economy and Markets

Sensex crashes 1,690 points, ₹9 lakh crore wiped out

On March 27, the Indian stock market took a massive hit. The Sensex closed down by 1,690 points, and the Nifty fell below 22,820. The crash wiped out about ₹9 lakh crore in investor wealth. The downturn was fueled by the lack of progress in US-Iran peace talks and a spike in crude oil prices to $107 per barrel.

Rupee hits record low: 6 key factors

Driven by tensions from the US-Iran war, the Indian Rupee has hit a historic low against the dollar. Sustained selling by Foreign Portfolio Investors (FPIs) and rising crude oil prices are cited as the primary drivers.

Where does your ₹2,000 fuel spend go? Taxes, Iran, and Oil Companies

With crude oil prices soaring due to the Iran conflict, NDTV analyzed where your money goes when you spend ₹2,000 on petrol. A significant portion goes toward central and state government taxes, dealer margins, and the underlying cost of crude oil.

🏏 Sports

IPL 2026: Gujarat Titans sign 37 sponsors, signaling rising brand value

For the 2026 IPL season, the Gujarat Titans have secured 37 sponsors, a clear indicator of the team's growing brand value.