Gift Nifty, July 13, 2026: Index Points to Weak Start for Markets as Iran Shuts Strait of Hormuz

Mumbai, July 13: Domestic capital markets will open lower on Monday with futures tracking early weakness in global markets after Iran announced the Strait of Hormuz had been shut once again in retaliation for a fresh round of US strikes over the weekend. Tehran also widened its missile and drone attack to targets in Gulf states Qatar and UAE over the weekend, stoking further concerns over the Strait’s reopening. Iranian air strikes were reported in Jordan and Kuwait as well, in what may be Tehran’s strongest retaliation since US president Donald Trump ordered the assassination of Quds Force commander Qassem Soleimani last year. 

Gift Nifty futures for July 28 expiry traded at 24,050.50 on Monday, down 150 points or 0.62 per cent as of 8:05 am. This discount implies a soft open for the Nifty 50, which settled at 24,206.90 on Friday. Spot contracts on the Nifty 50 were down 0.3 per cent in overnight trade. 

Iran War 

Iran’s Persian Gulf Strait Authority announced early Sunday that vessel passage had been stopped after illegal movement of US naval ships in the Gulf. US Central Command said more than 300 Iranian targets were struck over three nights ending Saturday. The Strait accounts for roughly a fifth of oil traded globally, and shipping through the waterway all but ground to a halt last month when Iran initially shut the passageway.

Asian Markets on Monday Morning 

Asian markets were mixed on Monday as investors weighed ongoing risk appetite with the fresh escalation in the Gulf region. Japan’s Nikkei 225 declined 1.12 per cent to 67,786.86 and China’s Shanghai Composite shed 0.66 per cent to 3,969.83. Hong Kong’s Hang Seng Index bucked the regional downtrend, rising 0.71 per cent to 24,346.28, while Malaysia’s FTSE Bursa Malaysia KLCI also advanced 0.88 per cent to 1,692.34. Australia’s benchmark S&P ASX All Ordinaries declined 0.33 per cent to 8,974.20. 

US Stocks on Friday 

US stocks closed moderately higher on Friday, shrugging off geopolitical concerns ahead of the Iran attacks over the weekend. The Dow Jones Industrial Average rose 149.60 points or 0.29 per cent to 52,637.01, the S&P 500 increased 31.75 points or 0.42 per cent to 7,575.39 and the Nasdaq Composite climbed 74.72 points or 0.29 per cent to 26,281.61. The NYSE Composite also rose 48.23 points or 0.20 per cent to 23,925.07. Each benchmark recorded broad-based gains across sectors with no major reversal. 

Oil Prices 

Oil prices surged more than 3 per cent on Monday as Tehran intensified strikes on Gulf states Qatar and UAE, through which most crude shipments are transported, following US retaliatory strikes over the weekend. Brent crude futures were last up $2.34 or 3.08 per cent to $78.35 a barrel, while US West Texas Intermediate crude added $2.21 or 3.09 per cent to $73.62. US President Trump tweeted the Strait of Hormuz remains open to all ships Sunday evening even after Iran said Hormuz had been shut once again. Iran targeted shipping containers in Qatar and struck two oil pumping stations near two major petroleum sites in Fujairah in the UAE. 

Iran War 

Iran’s Revolutionary Guards claimed responsibility for the attacks in Qatar, Kuwait, Oman and Qatar. Tehran has threatened to block passage of oil tankers through the Strait unless commercial traffic pays an insurance fee. Energy traders also monitored ship-tracking data from Kpler, which showed only six vessels transited the Strait on Sunday – the lowest figure since June 10.

Sensex and Nifty Closing on Friday 

In Friday’s trading session, the BSE Sensex gained 827.57 points or 1.08 per cent to settle at 77,569.39, while the NSE Nifty 50 added 244.10 points or 1.02 per cent to end at 24,206.90. Buydowns outnumbered sellers 2,756 to 1,316 on the BSE, with 171 stocks finishing unchanged. Realty, PSU bank and IT stocks led the gainers with the Nifty Realty index jumping 3.5 per cent on the back of strong earnings commentary from TCS. The Nifty IT index rose 2 per cent as well.

Sources

• nseindia.com
• https://www.reuters.com/world/asia-pacific/iran-declares-strait-hormuz-closed-unauthorised-vessel-hit-2026-07-11/
• https://www.reuters.com/markets/stocks/asia-pacific/
• https://www.reuters.com/business/energy/oil-jumps-more-than-3-after-us-iran-launch-strikes-mideast-2026-07-12/