Good morning, you're listening to Markets Desk.
Indian equities are under significant pressure this session as crude oil prices surge on escalating tensions across West Asia. For India, a major energy importer, rising oil costs translate directly into a heavier import bill, upward pressure on inflation, and a squeeze on corporate earnings — a triple threat that sent shares sharply lower in early trade.
Shifting to the pharmaceutical space, XORTX Therapeutics is seeing its shares surge more than thirty one percent in overnight trading after the company announced it has begun drug substance production and tablet manufacturing for XORLO, its gout treatment candidate. The move signals the company is advancing toward clinical and commercial readiness, a meaningful milestone for a late-stage biotech.
And in a development that underscores the deepening anxiety inside the AI industry itself, employees at both Anthropic and OpenAI are speaking out about the risk of an AI-driven catastrophe. The debate was reignited by a researcher's resignation from Anthropic, prompting a broader reckoning over whether the pace of development has outrun the guardrails designed to keep it safe.
That's the tape. Markets Desk, signing off the floor.
