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Metals and PSU banks sink markets as rupee weakens on Iran oil fears and RBI support
Economy
Published on 1 May 2026
RBI stepped in after oil and Iran headlines rattled traders
Indian markets tumbled on Thursday as metals and PSU banks dragged sentiment while the rupee came under pressure. Rising oil prices and rumors of possible military action against Iran spooked investors and weighed on risk appetite. The Reserve Bank of India intervened to support the currency, even as April delivered the market’s best performance in 28 months. Trading is shut Friday for Maharashtra Day.
- Metals and PSU banks led the market decline
- Rupee weakened amid oil spikes and Iran-related fears
- RBI intervened to support the rupee
- April still delivered marketsâ best run in 28 months
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times