Ground report: Ruins of Khamenei's home reflect deep scars left by West Asia war

United States forces struck two Iranian launchers on Iran's Larak Island, marking the first high-profile US attack on Iranian soil in nearly a month. The operation aimed to prevent Iran from deploying sea mines in the strategic waterway. Following the strike, US President Donald Trump shared AI-generated videos on social media claiming to depict bombings of Iran's Kharg Island oil hub. In retaliation, Iran targeted the King Hussein and Al-Azraq US airbases in Jordan, with all incoming missiles intercepted and destroyed by US forces.

A special broadcast reviews the multifaceted bilateral relationship between India and Russia, emphasizing strategic cooperation across defense, energy, space, and diplomacy. The discussion highlights key defense platforms underpinning ties, including BrahMos, Sukhoi aircraft, and S-400 anti-missile systems, alongside long-term projects such as the Kudankulam nuclear plant, Sakhalin-1, and the Gaganyaan space mission. Examining bilateral trade bolstered by discounted energy supplies, the analysis notes how India balances its partnerships amid Western scrutiny. Looking ahead to high-level diplomatic engagements at the SCO summit, the conversation outlines major anticipated discussion points, including the global energy crisis, shifting United States foreign policy dynamics, the ongoing Russia-Ukraine war, and broader regional stability across Central Asia and Afghanistan. Additionally, the dialogue addresses diplomatic prospects regarding potential bilateral and informal leadership interactions involving India, Russia, and China ahead of the BRICS summit.

Prime Minister Narendra Modi met Iranian President Masoud Pezeshkian in Bishkek, marking their first bilateral meeting. The Prime Minister stated that India reiterated its commitment to strengthening longstanding ties across diverse sectors, expanding the trade basket, and discussing the prevailing situation in the region to support lasting peace. The discussions highlight critical concerns regarding regional energy security, the transit of oil and LNG through the Strait of Hormuz, and ensuring the safety and security of Indian seafarers aboard ships in the area. The engagement reflects India's diplomatic balancing act amid escalating US-Iran tensions and its broader strategic engagements across multilateral forums.

Indian benchmark indices traded lower as crude oil volatility, global macroeconomic factors, and US Federal Reserve interest rate concerns weighed on market sentiment, pulling the Nifty 50 below the 24,100 level. Broad-based selling erased 49 lakh crore rupees in market capitalisation from peak levels across 47 Nifty 50 stocks, with major drags including Tata Consultancy Services, Reliance Industries, Infosys, and HDFC Bank. HDFC Bank shares dropped after Managing Director and CEO Sashidhar Jagdishan announced he will step down in October without seeking reappointment. Commodity markets saw gold and silver exchange-traded funds decline up to 4% due to profit-taking and US rate trajectories. In policy developments, the central government notified the Semicon 2.0 scheme with a 1.27 lakh crore rupee capital outlay to bolster semiconductor design and manufacturing. Additionally, the GST Council is set to review a proposal to reduce the Goods and Services Tax on mobile phones from 18% to 5% at its September 12 meeting following a drop in quarterly smartphone shipments.