Nifty 50 Signals Steep Slide at Market Open as 49 Stocks Tumble in Pre-Open: ONGC Surges Over 3% Amid Broad Selloff

Mumbai, June 13, 2025: The Nifty 50 index is set for a sharp downturn at Thursday’s opening bell, as 49 of its 50 constituent stocks traded in negative territory during the pre-opening session. The benchmark index indicated a fall of 413.75 points, opening at 24,474.45, representing a decline of 1.66%, as investor sentiment turned strongly risk-averse.

As of 9:35 AM IST on June 13, the Nifty 50 index traded at 24,586.70, registering a sharp decline of 301.50 points or 1.21% from the previous close of 24,888.20. The index opened weak at 24,473.00, which also marked the day’s low, before briefly rebounding to an intraday high of 24,653.15. The negative start reflects broad-based selling pressure across sectors. Despite the slight recovery after the open, the index continues to hover well below its 52-week high of 26,277.35, although still above the 52-week low of 21,743.65.

ONGC Defies Market Mood

ONGC emerged as the only stock in the green, registering a rise of 3.09% to trade at an indicative price of ₹255.55. The energy giant drew robust buying interest, with buy orders exceeding 15.4 lakh shares, notably higher than sell orders of around 9.5 lakh shares – a rare positive in a market dominated by red.

Key Pre-Open Market Snapshot

Top Nifty Gainers (Pre-Open)

Major Nifty Losers (Pre-Open)

Heavyweights Lead the Downtrend

The downward pressure was widespread and led by key index players, including:

• Reliance Industries: -1.49%
• ICICI Bank: -1.52%
• Infosys: -2.03%
• HDFC Bank: -1.20%
• ITC: -1.43%
• HUL: -1.19%

These major companies contributed significantly to the overall slump, reinforcing the weak market sentiment.

Sector-Wide Selloff Intensifies

The decline was not confined to one sector, as stocks across banking, automotive, pharmaceuticals, metals, and IT witnessed steep cuts. Counters with high foreign institutional investor (FII) exposure and those that had rallied recently were among the hardest hit.

Sentiment and Broader Outlook

The sharp fall ahead of the session mirrors global market caution, driven by:

Geopolitical Tensions in the Middle East

Israel’s early‑morning strikes on Iran’s nuclear and military facilities-part of Operation Rising Lion-have dramatically escalated regional tensions. Markets reacted sharply: Brent crude shot up nearly 8% intraday to over $75/barrel, the highest since April. With fears of supply disruptions-especially around the Strait of Hormuz-investors are increasingly wary, opting to reduce exposure to equities.

Renewed Inflation Concerns

Rising oil prices directly pressure global inflation, feeding into broader price levels. Analysts at JP Morgan warn that further Middle East escalation could drive crude as high as $120-130/barrel, compounding inflation and weighing on central bank policies. In India, May retail inflation eased to 2.82%, but elevated fuel costs could derail that trend.

Macro Data in Focus

• Markets are also eyeing vital economic releases-monsoon rains, CPI data, and RBI’s policy signals-which could reshape interest rate expectations and liquidity outlooks. The sudden oil spike is estimated to add roughly 35 basis points to India’s CPI inflation for every $10 rise in crude, thus the ~10% rise (around $7-8) could nudge inflation by ~25–30 bps Though May retail inflation stood at 2.82%, new data will likely accelerate price pressures, intensifying investor concerns over potential rate hikes by the RBI.
• The southwest monsoon, stalled since May 29, is only expected to progress by June 14. Delayed rains raise caution-agricultural output and food inflation depend heavily on timely monsoons. A weaker farm season may prompt inflation to rebound, unsettling markets further.
• The RBI has skipped its bi‑weekly 14‑day liquidity operation for the third straight time, with tax outflows of ₹3–3.5 trn due mid‑June. With liquidity tightening and core inflation hovering above target, market participants are wary of sudden rate moves or OMO adjustments.

With ONGC standing as the lone gainer, the overall market breadth remains severely negative, setting the stage for a volatile trading session ahead. Investors are expected to stay guarded amid the uncertain environment.

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