Stock Market Highlights: Sensex Cracks 500 pts, Nifty Dips Below 24,800 Amid Israel-Iran Flare-Up

Indian benchmark indices extended their losing streak, opening sharply lower on June 13 amid rising global uncertainty. The Sensex tumbled 1,094.26 points, or 1.34%, to 80,597.72, while the Nifty slipped 332.40 points, also 1.34%, to 24,555.80, as investor sentiment remained on edge following heightened geopolitical tensions.

A block deal involving 1.06 crore shares of Jubilant Food, worth around ₹702 crore, hit the counter today.

While the parties involved in the transaction could not be immediately identified, reports from CNBC-TV18 suggest that the promoter Bhartia family might be the likely the seller.

Crude prices surged sharply, with Brent crude nearing $77 per barrel after jumping nearly 11%, while WTI (NYMEX) spiked over 12%. The rally comes as geopolitical tensions between Israel and Iran intensify, heightening fears of potential supply disruptions in an already fragile global oil market.

Shares of airline companies—InterGlobe Aviation and SpiceJet extended their fall and fell up to 4% on June 13. The selloff was after Air India’s London-bound plane crashed at Ahmedabad.

An Air India Boeing 787 flight crashed shortly after taking off from Sardar Vallabhbhai Patel International Airport in Ahmedabad. The aircraft came down in the Meghani area of the city.

A block deal involving 48.35 lakh shares, representing 3.04% of Jubilant Pharmova changed hands today. The transaction was valued at around ₹527 crore, with shares exchanged at ₹1,087 apiece.

Sometimes bad news come in a flood. Close on the heels of the Ahmedabad air tragedy has come the news of Israel’s attack on Iran. The economic consequences of this Israeli strike can be profound if the attack and counter attack by Iran lingers long. Israel has declared that the operation will last  several days.

Brent crude prices have flared up by around 12% to $78. It can rise further if Iran in retaliation closes the straight of Hormuz severely restricting oil supply. The impact on market will depend on how long the conflict lingers. In the near-term the market will be in a risk-off mode.

Sectors that uses oil derivatives as inputs like aviation, paints, adhesives and tyres will be hit hard. Oil producers like ONGC and Oil India will remain resilient. Investors can wait and watch how the situation unfolds. Nifty is likely to get strong support at 24,500 level.

Oil refining stocks like ONGC and Oil India extended their uptrend and inched higher on June 13 after crude oil prices surged following an Israeli airstrike on Iran. The escalation raised concerns across global markets, as the Middle East accounts for nearly a third of the world’s crude production, and any fresh conflict could threaten supply chain stability.

The Indian stock market felt the heat of Israeli airstrikes on June 13, Friday, as the headline indices—Nifty 50 and BSE Sensex—plummeted up to more than 1% each to break below the 24,500 and 80,400 level to touch their respective day's low. The Indian equities markets opened in deep red with major cuts on the last trading day of the week.

Continued global uncertainties weighed on the market sentiments, leading to 262.80 and 852.86 points fall in Nifty 50 and Sensex to 24,625.40 and 80,839.12 points, respectively, at 09:50 am. Israel carried out an airstrike on Iran, resulting in a major escalation in the Middle East, which thus pushed the markets into a state of chaos.  Crude oil prices rose after the news of the rising conflict in the Middle East. Earlier today, the GIFT Nifty also indicated a negative start to the day's trade. Read More

Boeing President and CEO Kelly Ortberg on Thursday said he has spoken to Air India chairman N Chandrasekaran after the Ahmedabad plane crash and has extended full support to the Tata Group airline. 

“Our deepest condolences go out to the loved ones of the passengers and crew on board Air India 171, as well as everyone affected in Ahmedabad. I have spoken with Air India chairman N Chandrasekaran to offer our full support,” said Boeing CEO in a statement.

Apple shipped nearly 97% of the ‘Made-in-India' iPhones to the US between March and May, Reuters reported, citing customs data. Shipments worth $3.2 billion, a significant increase from 50% monthly average recorded via 2024, were sent to avoid US President Donald Trump’s tariffs on Chinese goods.

Shipping Corporation of India Ltd. (SCI) and GE Shipping stocks surged 10% and 5%, respectively, on Friday, after Israel launched attack on Iran’s nuclear program. The stocks are among the top and few gainers on the Nifty 500 index today.

Finance Minister Nirmala Sitharaman is likely to chair a meeting with the heads of public sector banks (PSBs) on June 27 to review performance, Cnbctv18 reported, citing sources. The move comes after the 29th Financial Stability and Development Council (FSDC) meeting, where FM Sitharaman highlighted a more citizen friendly financial system.

Deepak Shenoy, founder and CEO of Capitalmind, warned investors against the increasing risks driven by geopolitical tensions. In a post on social media platform X, Shenoy alarmed investors that the complexities are going to get messier. 

“Geopolitical complexities have dramatically increased and will hurt the world economically. It’s going to get a lot more messy, it seems,” he said on Friday.

Defence stocks outperformed a weak market on June 13, with shares of Hindustan Aeronautics (HAL), Bharat Dynamics (BDL), and Bharat Electronics (BEL) rising up to 3% on the NSE, reported Business Standard.

Other gainers from the Nifty India Defence index included Astra Microwave, Zen Technologies and Paras Defence. The rise in defence stocks comes as tensions grow between Israel and Iran, leading to increased investor interest in defence-related companies.

Shares of L&T Finance Ltd. fell on June 13, after global brokerage UBS downgraded the stock to "neutral" from "buy", citing a balanced risk-reward outlook after a strong rise in the stock.

Despite the downgrade, UBS raised its price target by 18.6% to ₹210, indicating a 16.3% upside from Thursday’s close. The stock has surged 39% in the last three months, driven by optimism in the Micro Finance (MFI) segment.

The NCLT’s Ahmedabad bench has admitted Indian Renewable Energy Development Agency’s (IREDA) insolvency plea against Gensol Engineering Ltd, reported NDTV Profit.

With this, Gensol has formally entered the corporate insolvency resolution process. An interim resolution professional will be appointed from the IBBI panel to oversee the proceedings.

Indian benchmark indices Sensex and Nifty fell on Friday, mirroring losses across Asian markets, after Israel carried out military strikes on Iran, escalating tensions in the oil‑rich Middle East.

IndiGo shares fell 6% on Friday after the airline’s promoter announced plans to sell a 4% stake, raising approximately $1 billion. Vistara promoter Rakesh Gangwal will see his holding drop to 7.8%, continuing a gradual exit trend.

The sell‑off comes amid broader market headwinds from the recent Air India crash and heightened Middle East tensions following Israel’s strikes on Iran. A spike in crude oil prices also dented investor confidence, raising margin concerns for India’s airlines.

The Indian stock market felt the heat of Israeli airstrikes on June 13, Friday, as the headline indices—Nifty 50 and BSE Sensex—plummeted up to more than 1% each to break below the 24,500 and 80,400 level to touch their respective day's low. The Indian equities markets opened in deep red with major cuts on the last trading day of the week. However, as the day's session progressed the indices trimmed some losses were trading 0.7% lower each.

In Friday’s session, all 13 BSE sectoral indices closed lower, extending broad‑based selling across the market. The BSE Mid‑Cap and Small‑Cap indices, typically more sensitive to domestic demand—each fell by 2%, underlining the cautious mood among investors amid geopolitical and macroeconomic headwinds.

"Gold prices surged sharply crossing ₹100000 in MCX, Geopolitical issues escalating further with Israel attacks on Iran and Nuclear sites rumoured to be targeted. Prices react with ₹1500-1900 gains as Iran retaliate treats looms which can create war situations between the two. In comex prices surged passed $3425 gains of $50 but Indian price rose 2% due to rupee weakness which fell by 0.60rs to 86.10. Support now looked at 98000 and major resistance which is extended levels at 102500 in short term," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities. 

Shares of IndiGo fell as much as 6% after reports of co-founder Rakesh Gangwal's plans to sell a 4% stake worth around $1 billion, reducing his holding to 7.8% and continuing his gradual exit from the airline. At 1.46 PM, its shares were trading down over 4% at ₹5,255.

The broader market sentiment was also dampened by rising geopolitical tensions following the Israel-Iran conflict and a fatal Air India crash. Additionally, a spike in crude oil prices raised fresh concerns over operating margins for airlines, further weighing on investor confidence.

Asian markets ended in the red, with major indices like Japan’s Nikkei 225 and the Taiwan Weighted index each falling around 1%. The Nikkei dropped 338.84 points to 37,834.25, while Taiwan fell 214.87 points to 22,072.95. Hong Kong’s Hang Seng slipped 0.88%, and South Korea’s KOSPI declined 0.88% as well.

"Yesterday's plunge has effectively put an end to the near term uptrend. We will however Wait for up swings to be attempted once in the 24640 vicinity, but with 25100 as the upside marker for the day. Expect 24445-24060, if unable to float above 24640," said Anand James, Chief Market Strategist, Geojit Investments Limited. 

Schneider Electric Infrastructure has received a rectified tax order, bringing down the tax demand to ₹3.05 crore. As per the company’s exchange filing, the financial impact is expected to be limited. The company's shares were down 5.73% at ₹702.00 as of 1.57 PM.

The Centre is reportedly reconsidering its plan to sell its remaining 27.94% stake in Hindustan Zinc Ltd, as strong and consistent dividend inflows make holding the stock financially appealing. A senior official told Moneycontrol that the government may not rush the sale, despite potential proceeds of ₹40,000 crore, as it weighs the long-term value of dividend income.

Following the tragic crash of Air India flight AI 171 in Ahmedabad on 12 June 2025, LIC of India has announced a series of relaxations to support affected families. LIC stated it will expedite claim settlements and accept alternative proof of death—such as government records or compensation documents—in lieu of death certificates. Claimants can contact nearby LIC branches or call the helpline at 022 68276827 for assistance.

The BSE Sensex fell 584.70 points to 81,107.28, and the Nifty 50 dropped 177.25 points to 24,710.95 by mid-afternoon at 2.21 PM. Selling pressure was seen across key stocks, with Adani Ports (-2.27%), SBIN (-1.71%), and Bajaj Auto (-1.54%) leading the declines. Heavyweights like HDFC Bank, ITC, IndusInd Bank, and Tata Motors also registered losses of over 1%, reflecting broad-based weakness.

The India Meteorological Department (IMD) expects the southwest monsoon to cover most of northwest India, including Delhi, by June 25 — earlier than the usual June 27 onset. After an early start over Kerala on May 24, the monsoon advanced rapidly before stalling from May 28 to June 10, leading to heatwave conditions. It has now regained momentum and is likely to reach the remaining parts of central and eastern India by June 18. However, the IMD warns that early arrival doesn't necessarily indicate higher overall rainfall.

Bike taxi services by Ola, Uber, and Rapido will be suspended in Karnataka from June 16, following the High Court's refusal to stay an earlier ruling banning operations until the state frames rules under the Motor Vehicles Act. Rapido warned the ban could affect over 6 lakh livelihoods, with most riders relying on it as their main income. The next court hearing is set for June 24.

Tesla has reportedly increased the price of its Model X all-wheel drive to $84,990 from $79,990, while the Plaid variant now costs $99,990, up from $94,990. This follows a similar $5,000 hike in Model S prices last December.

InterGlobe Enterprises, the parent company of IndiGo, might sell up to 4% stake in the airline via block deals to raise around ₹8,600 crore, as per a report by CNBC TV18.

"Israel's military actions against Iran have heightened concerns over stability in the Middle East, a region crucial for global oil supply. This development has led to increased uncertainty in global markets. The conflict has resulted in a sharp rise in Brent crude oil prices, which spiked to over $75 per barrel. This surge raises concerns about inflation and increased input costs for businesses, particularly in energy-intensive sectors," Vinit Bolinjkar, head of research, Ventura.

"Energy stocks, especially oil marketing companies such as BPCL, HPCL, and IOC, have been adversely affected due to concerns over rising crude prices impacting refining margins. Additionally, airline stocks have declined following a tragic Air India crash in Ahmedabad," Bolinjkar said.

"Gold marked an all time of ₹1 lakh on domestic front and hovering close to $3500, as investors sought safe-haven assets after Israel's strike on Iran heightened Middle East tensions. Geopolitical tensions escalated after Israel struck Iran as tensions mounted over US efforts to halt Iran's production of atomic bomb materials. This latest spike in hostilities in the Middle East has taken the focus off trade negotiations for now, and built the risk premium once again in the market," said Manav Modi, senior analyst, commodity research at Motilal Oswal Financial services Ltd.

The BSE Sensex concluded Friday's trading session at 81,167.35 level, down by 524 points or 0.64%. Whereas, the Nifty50 index ended below the psychological 24,800 level mark, down by over 150 points or 0.61%.

Nearly all stocks were trading in red from the Sensex 30 pack. Adani Ports, ITC, SBI, IndusInd Bank and HDFC Bank were among the top laggards. Whereas, Tech Mahindra, TCS, Sun Pharma and Maruti remained in green.

"Indian equity benchmarks experienced downward pressure, driven by weak global cues and foreign institutional outflows. Market sentiment was notably impacted by heightened geopolitical tensions following Israel’s military strike on Iran, which significantly increased risk aversion among investors," said Vinod Nair, head of research, Geojit Investments Limited.

"Although India’s CPI for May eased below the RBI’s comfort threshold—offering a positive macro signal—this was largely overshadowed by external headwinds. Brent crude prices climbed near $76/barrel, their highest this year, raising fears of inflation if tensions persist.  Gold demand remains strong, reflecting a shift to safe-haven assets. In the near term, market sentiment is likely to stay cautious until geopolitical stability returns," Nair said.

"Markets extended Thursday’s decline and ended lower, shedding over half a percent. Weak global cues led to a gap-down start for the Nifty; however, selective buying in heavyweights helped trim some of the losses as the session progressed. Eventually, the index settled at 24,718.60, down 0.68%. Most sectors mirrored the overall trend, with FMCG and banking emerging as the top laggards. The broader indices also remained under pressure, losing nearly half a per cent each," said Ajit Mishra – SVP, research, Religare Broking Ltd.

"The initial reaction was largely driven by a sharp rise in crude oil prices due to geopolitical tensions in the Middle East. However, a moderation in CPI inflation helped limit the downside. On the technical front, the Nifty slipped below its short-term moving average (20 DEMA) once again but witnessed a swift rebound after testing the lower end of the recent consolidation range (24,500–25,200). This suggests a possibility of continued consolidation in the index," Mishra added.

"Rupee traded very weak below 86.05, down by 0.52 rupees, despite a softer dollar index, as risk sentiment deteriorated sharply following Israel's attack on Iran. The escalation in Middle East tensions pushed WTI crude prices above $74, marking a 9% surge, which added significant pressure on the rupee. The currency is expected to trade in a volatile range between 85.60 and 86.50 in the near term," said Jateen Trivedi, VP research analyst - commodity and currency, LKP Securities

"Given the prevailing scenario, traders should maintain a balanced approach with positions on both sides, focusing on stock selection driven by sectoral and thematic trends. It is advisable to avoid aggressive bets and manage risk prudently," said Ajit Mishra – SVP, research, Religare Broking Ltd.

"Nifty continued to show weakness on Friday amidst geo-political tension between Israel & Iran and rising International Crude Oil prices. The market slipped into sharp weakness on Friday, but was able to show upside recovery from the lower levels towards end. The overall chart pattern indicates a formation of short-term top reversal pattern at 25222 as per daily timeframe chart," said Nagaraj Shetti, senior technical research analyst at HDFC Securities.

"The short-term trend of Nifty is negative, but the medium-term trend remains positive. Nifty seems to have entered a broader high low range of 24500-25100 again. Hence, any sharp weakness below 24500 could possibly trigger sharp selloff. However, any sustainable bounce from the support could pull Nifty towards 25100 levels again in the near term," he added.

"We expect market focus to remain on oil exploration companies on the back of rise in crude prices amidst the backdrop of escalation in Israel-Iran military action. Further, any such escalation would have a positive rub off effect on domestic defence companies on expectation of increased export orders amidst higher defence spending. Overall, we expect the market to remain subdued on the back of weak global cues, while industry-specific news flows would continue to drive sectoral movements," said Siddhartha Khemka, head- research, wealth management, Motilal Oswal Financial Services Ltd.