Mumbai, July 24 -- The week gone by was defined by a sharp re-escalation in the Hormuz corridor that overshadowed an otherwise constructive set of domestic data.

On the energy front, Strait of Hormuz weekly transits plunged significantly as various oil refiners suspended crude loadings from Iraq amid security risks.

Brent climbed above the $100 per barrel mark this week, which is its highest level since May, as Iran-backed Houthi militants attacked two Saudi oil tankers in the Red Sea. Further, Kazakhstan has also suspended crude exports through the Caspian Pipeline Consortium terminal following drone strikes, compounding the supply anxiety.

On the domestic front, the data was more encouraging. India's Index of Core Industries grew 5.0...