Headlines: Iran declares Hormuz is accessible, markets gain for a second consecutive week, Constitution amendment proposal unsuccessful, and additional updates.

India aimed to ease supply concerns, asserting that fuel availability remains steady amidst global oil fluctuations, even as geopolitical tensions kept markets unsettled. US President Donald Trump stated that the Strait of Hormuz is open for business, but indicated that a US naval blockade aimed at Iran will continue, hinting at a potential role in a peace deal if discussions advance.

Domestically, the Lok Sabha turned down a Constitution Amendment Bill regarding delimitation, failing to obtain the necessary majority.

Markets saw gains for the second consecutive week, increasing by ₹14 lakh crore in value, while the rupee outperformed its emerging market counterparts. In corporate news, an FIR was lodged against Anil Agarwal related to the Sakti plant explosion, and Netflix shares dipped following a disappointing forecast and a leadership transition.
In related developments, a fragile ceasefire between Israel and Lebanon took effect, although violations were reported, maintaining focus on broader West Asia tensions.

India reassures fuel supply stability amidst oil volatility, calls for no panic buyingIndia has confirmed that it possesses sufficient crude oil inventories, with petrol and diesel supplies remaining stable despite global market fluctuations.

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Trump declares Hormuz open for business, but US blockade remainsOn April 17, US President Donald Trump announced that the Strait of Hormuz is “completely open and ready for business,” while emphasizing that a US naval blockade targeting Iran will persist.

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Also Read: Trump states Israel is prohibited from bombing Lebanon

Trump hints at possible trip to Pakistan for deal signing if Iran agreement reached over the weekendUS President Donald Trump reiterated that progress is occurring in negotiations with Iran and suggested he could partake in signing a peace agreement if one is concluded.

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West Asia war updates April 17: Israel-Lebanon ceasefire initiated with violations reported, Iran uranium deal progresses

A 10-day ceasefire between Israel and Lebanon has commenced following weeks of conflict, amidst reports of violations and the return of civilians south. Ongoing discussions between the US and Iran regarding nuclear commitments keep attention on regional stability.

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Lok Sabha rejects Constitution Amendment Bill for delimitationOn April 17, the Lok Sabha voted against the Constitution Amendment Bill concerning delimitation, as it failed to garner the necessary two-thirds majority.

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Markets continue upward trend, adding ₹14 lakh crore; Sensex at 78,494, Nifty above 24,350Indian equity markets maintained gains for a second week, with benchmark indices BSE Sensex and NSE Nifty rising over 1% and BSE-listed firms adding nearly ₹14 lakh crore in market capitalization.

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Rupee outpaces EM peers, rises 0.5% as RBI curbs dollar demandThe rupee appreciated nearly 0.5% even as most emerging market (EM) currencies faced pressure against the dollar. Over the past month, the rupee has gained approximately 3%, in stark contrast to many EM peers, which have declined by 2–3% in the same timeframe.

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FIR lodged against Anil Agarwal regarding Sakti Vedanta power plant explosionAn FIR has been registered against Vedanta Group Chairman Anil Agarwal concerning the blast at the Vedanta power plant in Sakti district of Chhattisgarh, which resulted in 20 fatalities and several injuries. The case also mentions manager Devendra Patel.

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Netflix earnings forecast falls short, Reed Hastings steps downNetflix Inc. issued a second-quarter forecast that did not meet analysts’ expectations, leading to a decrease in shares during extended trading.

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We’ll see you on Monday with another engaging ‘Top 10@10’