Top Of The Morning : Crude Crash, Silver Lining | LPG Gets Pricier | Prestige Hotels Eyes IPO Spotlight

This is Nelson John, and I'll bring you the top business and tech stories, let's get started. India’s Markets, Oil, Trade & Travel: A Week of Highs and LowsIndia’s stock markets were rocked this week after US President Donald Trump unleashed a wave of tariffs, sparking fears of a global trade war. The Sensex logged its worst single-day fall in 10 months—plunging nearly 3%—with mid- and small-cap stocks faring even worse. But experts say it’s more global panic than a local crisis, and history suggests such crashes are often followed by strong rebounds.Meanwhile, crude oil prices crashed too, falling over 11% last week to a four-year low of $64.62 per barrel. That’s nearly 30% down from a year ago. The plunge is driven by weaker global demand due to trade tensions, even as oil supply surges from OPEC and US producers. For India, which imports 85% of its oil, this is a mixed blessing—cheaper crude improves the trade balance and reduces inflation, but the benefits aren’t reaching consumers yet. The government hiked excise duty by ₹2 per litre on petrol and diesel, absorbing the gain to support revenue.India’s exports to the US are also feeling the heat. A new report warns that Trump’s tariff hike—part of his “America First” push—could shrink India’s exports by over $5.7 billion in 2025. Sectors like gems, jewellery, electronics, auto parts, and seafood are most vulnerable, with gold and electronics alone staring at losses nearing $3.5 billion. While pharma and textiles may escape unscathed, India risks losing competitiveness to countries like Mexico and Vietnam.Adding to household pressure, LPG prices have been hiked by ₹50 starting April 8. Ujjwala beneficiaries will now pay ₹550 per cylinder, while unsubsidized customers face an ₹853 bill. The government says the excise hike on fuels won’t affect pump prices for now, but cooking gas users are feeling the pinch.On a brighter note, India’s booming hospitality sector is gearing up for a splash in the public markets. Prestige Hospitality Ventures, a part of Prestige Group, is set to raise ₹2,000–2,500 crore via an IPO. With eight hotels currently and 15 more in the pipeline, the brand is banking on rising travel demand and luxury tie-ups to expand its footprint nationwide.From market mayhem to IPO buzz, India’s economy is weathering shocks—with some silver linings in sight.