Indian Markets Recover From Session Lows but Stay in Red; Sensex Drops 898 Pts 

Mumbai, April 13: Indian equity benchmarks pared losses during the afternoon session on Monday but remained deep in negative territory as geopolitical tensions between the US and Iran continued to cast a long shadow over markets. On BSE, the Sensex traded at 76,652.25, down 898 points or 1.16% at 12:05pm. The broader NSE Nifty 50 index stood at 23,802.95, losing 247.65 points or 1.03% as of 12:06pm.

The Sensex opened with a sharp fall of as much as 1,536 points but strengthened after hitting the day’s lows as investors scooped up some stocks at bargain prices. Banks and financial services counters continued to weigh on both benchmarks while pharma, infrastructure and telecom stocks offered some support to curb deeper losses. Overall, bargain buying in select large-cap stocks and defensive sectors helped markets pare losses from the day’s lows but the risk-off mood stayed firmly entrenched as investors kept a close eye on geopolitical tensions between the US and Iran.

Market participants also closely watched strong moves in crude oil prices as the United States imposed a naval blockade of Iran’s ports. If tensions continue to rise between the US and Iran, it would be very difficult for markets to sustain any sharp bounce from current levels, analysts said.

On a positive note, India’s rupee strengthened slightly against the US dollar during Monday’s session.

Top gainers on Nifty 50 included Adani Enterprises (+2.96%), HDFC Life (+2.85%), NTPC (+1.91%), Tata Motors (TMPV) (+0.85%) and Max Healthcare (+0.66%), among others. Stocks that declined the most on Nifty 50 were Eicher Motors (-4.03%), Maruti Suzuki (-3.84%), Reliance Industries (-2.51%), Indigo (-2.42%) and Bajaj Finance (-2.34%), among others.

Oil Climbs Back Above $100 on Renewed Fears of Supply Disruptions

Crude oil prices recovered from their morning lows to trade above $100 a barrel on Monday, with Brent crude futures up 7.23% at $102.31 and West Texas Intermediate up 4.58% at $104.94 at around 12:15pm. This comes after oil prices plunged by over 4% earlier in the session, on hopes that China will tap its strategic petroleum reserves to cool oil markets. Even with Monday’s recovery, crude oil prices remain under pressure from concerns over a possible US military strike on Iran following attacks on two oil facilities there over the weekend.

Rupee Under Fresh Pressure as Oil Spike Looms Large

The Indian rupee faces a challenging week ahead, with the two key tailwinds that had lifted it — RBI-mandated unwinding of bank FX positions and a temporary ceasefire-driven calm — now firmly in the rear view mirror, leaving oil prices and equity flows as the primary drivers. The currency had gained 0.4% last week to 92.7275 per dollar, building on a near-2% rally the week before, but that support has now faded as banks have completed their compliance with the RBI directive capping onshore FX positions.

Iran Crisis: US Naval Blockade of All Iranian Ports Effective From Monday Morning
Geopolitical tensions between the United States and Iran further escalated through Monday morning with Washington announcing that it is formally blocking all Iranian ports with its naval forces. At around 10am EST on Monday, the US Central Command announced that “Beginning Monday, 10 February, the US Navy will prevent all ships transiting through the Gulf and the Gulf of Oman from calling at Iranian ports.” There have been no formal talks between Washington and Tehran since last weekend’s meeting between the two countries’ diplomats in Pakistan broke up without agreement.

Meanwhile, financial markets around the world reacted negatively to the news of the naval blockade, with US stocks falling in early trade on Monday and Asian markets likely to follow suit when they open later in the day. Chinese state media said on Monday that Beijing hopes Washington and Tehran can exercise restraint and resolve their differences via dialogue. European Union foreign policy chief Josep Borrell said the 27-nation bloc “calls on all parties to deescalate tensions and avoid any action that could lead to further escalation.”

Nifty 50: Top 5 Gainers  13 Apr 2026, ~12:06

Sources: 

• https://www.bseindia.com/index.html
• https://www.nseindia.com/market-data/live-market-indices
• https://www.nseindia.com/market-data/top-gainers-losers