Israel and Iran have been attacking each other, and there is no saying how bad the war situation could get. But India’s stock markets have remained calm. The reason: low inflation, a stable macro situation,

Iran’s allies, the self-described “Axis of Resistance,” have been severely hurt by ongoing Israeli attacks since the Oct. 7, 2023, Hamas attack on Israel, particularly Lebanon’s Hezbollah and Hamas in the Gaza Strip. Iran has long used those groups as both an asymmetrical way to attack Israel and as a shield against a direct assault.

President Trump called for Iran’s ‘unconditional surrender’ on Tuesday. Israeli officials have been pushing the United States to use its huge bunker-busting bomb to crush Iran’s nuclear capabilities.

Oil prices climbed on Tuesday as the Iran-Israel conflict raged with no end in sight, though major oil and gas infrastructure and flows have so far been spared from substantial impact.