Sensex falls 600 pts, Nifty holds 24k mark amid fresh US-Iran attacks
Sensex crashed 600 points to 79,968 and Nifty lost 173 pts to 24,032 in early deals today. Among Sensex constituents, IndiGo, Maruti, Tata Steel, and HDFC Bank were the top losers, falling up to 2.19%.
- Jul 13, 2026,
- Updated Jul 13, 2026 9:46 AM IST
The Indian market opened lower on Monday on renewed hostilities in the Middle East and Iran's claim that it had closed the strategically important Strait of Hormuz sending crude oil prices higher. The escalation came after US and Iranian forces exchanged heavy missile and drone strikes, with Tehran targeting American military facilities across several Gulf states on Sunday. Brent crude prices rose 4% to $79.11 per barrel amid reports of escalation over Strait of Hormuz.
Sensex crashed 600 points to 79,968 and Nifty lost 173 pts to 24,032 in early deals today. Among Sensex constituents, IndiGo, Maruti, Tata Steel, and HDFC Bank were the top losers, falling up to 2.19%. Investor wealth over Rs 2 lakh crore was wiped out in early deals today as market cap of BSE-listed firms fell to Rs 479.59 lakh crore against Rs 481.75 lakh crore on Friday last week.
TCS, HCL Tech, NTPC and PowerGrid were the only gainers rising up to 1.28%.
Watch out for crude price
"If Brent shoots up to above $90, there can be a significant correction in the market. So, watch out for the price of crude. A positive factor that is imparting resilience to the market now is the FII inflows. During the last eight trading days, FIIs were buyers in five days. The weakness in the chip trade in South Korea is turning out to be positive for India. FIIs are reducing the concentration risk in chip stocks despite their attractive valuations and moving money to stabler markets, where there is no concentration risk and long-term growth prospects are bright. If this trend sustains, Indian market will continue to remain resilient," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.
Ponmudi R, CEO of Enrich Money said, "On the downside, the 24,100 level, which coincides with the 100-day EMA, is expected to provide immediate support, followed by the 24,000 psychological mark. Holding above these levels will be crucial to preserve the prevailing recovery structure. However, a decisive break below 24,000 could trigger renewed selling pressure and drag the index towards the 23,900–23,800 region. Overall, the near-term technical outlook remains cautiously positive, with a sustained move above the 24,300–24,400 resistance zone required to confirm the continuation of the broader recovery."
Previous session
The 30-share BSE Sensex surged 827.57 points or 1.08 per cent to settle at 77,569.39, while the NSE Nifty50 index gained 244.10 points or 1.02 per cent to end at 24,206.90.
The Indian market opened lower on Monday on renewed hostilities in the Middle East and Iran's claim that it had closed the strategically important Strait of Hormuz sending crude oil prices higher. The escalation came after US and Iranian forces exchanged heavy missile and drone strikes, with Tehran targeting American military facilities across several Gulf states on Sunday. Brent crude prices rose 4% to $79.11 per barrel amid reports of escalation over Strait of Hormuz.
Sensex crashed 600 points to 79,968 and Nifty lost 173 pts to 24,032 in early deals today. Among Sensex constituents, IndiGo, Maruti, Tata Steel, and HDFC Bank were the top losers, falling up to 2.19%. Investor wealth over Rs 2 lakh crore was wiped out in early deals today as market cap of BSE-listed firms fell to Rs 479.59 lakh crore against Rs 481.75 lakh crore on Friday last week.
TCS, HCL Tech, NTPC and PowerGrid were the only gainers rising up to 1.28%.
Watch out for crude price
"If Brent shoots up to above $90, there can be a significant correction in the market. So, watch out for the price of crude. A positive factor that is imparting resilience to the market now is the FII inflows. During the last eight trading days, FIIs were buyers in five days. The weakness in the chip trade in South Korea is turning out to be positive for India. FIIs are reducing the concentration risk in chip stocks despite their attractive valuations and moving money to stabler markets, where there is no concentration risk and long-term growth prospects are bright. If this trend sustains, Indian market will continue to remain resilient," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.
Ponmudi R, CEO of Enrich Money said, "On the downside, the 24,100 level, which coincides with the 100-day EMA, is expected to provide immediate support, followed by the 24,000 psychological mark. Holding above these levels will be crucial to preserve the prevailing recovery structure. However, a decisive break below 24,000 could trigger renewed selling pressure and drag the index towards the 23,900–23,800 region. Overall, the near-term technical outlook remains cautiously positive, with a sustained move above the 24,300–24,400 resistance zone required to confirm the continuation of the broader recovery."
Previous session
The 30-share BSE Sensex surged 827.57 points or 1.08 per cent to settle at 77,569.39, while the NSE Nifty50 index gained 244.10 points or 1.02 per cent to end at 24,206.90.