Domestic equity markets slumped on Monday, with benchmark indices witnessing a broad-based selloff amid escalating geopolitical tensions and a sharp surge in crude oil prices. The decline followed rising tensions between the United States and Iran after US President Donald Trump announced a naval blockade of the Strait of Hormuz, a key route for global oil supplies. Irans warning of strong retaliation further heightened fears of a prolonged conflict.
Crude oil prices rallied sharply, with Brent crude crossing the $100 per barrel mark, fuelling inflation concerns and increasing input cost pressures for oil-importing economies such as India. Global cues remained weak, with Dow Jones futures indicating a subdued opening for Wall Street.
The selloff was further aggravated by profit booking after last weeks strong rally and continued foreign institutional investor outflows. The Nifty ended below the 23,850 mark, dragged down by losses in auto, energy and FMCG stocks.
The S&P BSE Sensex tanked 702.68 points or 0.91% to 76,847.57. The Nifty 50 index declined 207.95 points or 0.86% to 23,842.65.
Maruti Suzuki India (down 4.61%), Reliance Industries (down 2.64%), HDFC Bank (down 2.02%) were major index drags today.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index slipped 0.72% and the BSE 250 SmallCap Index fell 0.42%.
The market breadth was negative. On the BSE, 1,790 shares rose and 2,573 shares fell. A total of 213 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 8.75% to 20.50.
The stock market will remain closed on Tuesday, 14 April 2026, on account of Dr. Babasaheb Ambedkar Jayanti.
Economy:
India's Consumer Price Index (CPI) inflation rose to 3.4% in March 2026 from 3.21% in February 2026 to mark the largest inflation rate in over one year. Food inflation was at 3.87%, picking up from the 3.47% in the previous month.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.19% to 6.901 compared with the previous session close of 6.914.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 93.3850 compared with its close of 92.8300 during the previous trading session.
MCX Gold futures for the 5 June 2026 settlement fell 0.70% to Rs 151,591.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.34% to 98.77.
The United States 10-year bond yield added 0.46% to 4.333.
In the commodities market, Brent crude for May 2026 settlement jumped $7.19 or 7.55% to $102.39 a barrel.
Global Markets:
US Dow Jones futures fell 180 points, indicating a weak start for Wall Street later today, while European and Asian markets also declined amid renewed geopolitical tensions.
Concerns escalated after US-Iran ceasefire talks failed, raising fears of a potential US naval blockade of Iranian ports and the Strait of Hormuz. The breakdown of negotiations over the weekend in Islamabad has heightened worries that the conflict could be prolonged, pushing oil prices higher and weighing on global growth.
According to media reports, US President Donald Trump is considering resuming airstrikes on Iran. Earlier, Trump had agreed to a two-week ceasefire in exchange for safe passage of ships through the strait.
On the macro front, US markets ended mixed on Friday after inflation data showed price pressures remain elevated. The March CPI rose 0.9% month-on-month and 3.3% year-on-year, marking the highest annual increase since May 2024.
The Dow Jones Industrial Average fell 269.23 points, or 0.56%, to 47,916.57, while the S&P 500 declined 0.11%. The Nasdaq Composite, however, rose 0.35%.
Higher gasoline prices accounted for a major share of the inflation increase, while food inflation remained relatively subdued. Consumer sentiment also weakened in April, hitting a record low in the University of Michigan survey, reflecting concerns over the economic impact of the Iran conflict.
Stocks in Spotlight:
Ather Energy surged 5.18% after the draft Delhi Electric Vehicle (EV) Policy 2026-2030 proposed a ban on registration of petrol-powered two-wheelers in the national capital from April 2028.
MTNL jumped 4.55% after Maharashtra government reportedly cleared Rs 729 crore acquisition of BSNL-MTNL land in Borivali (Mumbai) for affordable housing under Pradhan Mantri Awas Yojana - Urban (PMAY-U).
Jyoti CNC Automation slumped 14.69% after the company disclosed an investigation into its wholly owned subsidiary, Huron Graffenstaden SAS, by French authorities. The probe relates to alleged violations of export control rules involving dual-use machinery. Authorities have taken interim actions, including restricting the subsidiarys director general from discharging duties. They have also seized certain bank accounts worth around EUR 4 million and two residential properties owned by Jyoti SAS. The subsidiary has denied the allegations and is seeking legal advice. It said it will contest the matter.
Puravankara surged 10.95% after the real estate developer reported a 190% jump in sales value to Rs 3,547 crore in Q4 FY26, compared with Rs 1,225 crore in Q4 FY25.
Enviro Infra Engineers surged 15.34% after the company secured two major engineering, procurement and construction (EPC) contracts from the Swachh Maharashtra Mission Directorate, with a combined value of Rs 972.19 crore.
Multi Commodity Exchange of India rose 3.68% to Rs 2766.45 after a foreign broker upgraded the stock to Overweight and raised target to Rs 3,270, citing higher commodity volatility boosting volumes and revenue outlook.
Nitco jumped 3.85% on reports of potential Alibaug land deal with House of Abhinandan Lodha. According to reports, joint development agreement likely soon, with revenue potential seen up to Rs 6,000 crore.
Innovision added 1.83% after the companys consolidated net profit jumped 43.27% to Rs 4.47 crore on a 2.12% increase in revenue from operations to Rs 233.26 crore in Q3 FY26 over Q3 FY25.
Emerald Leisures rose 7.91% after it had received a letter of intent (LoI) for the development of a residential redevelopment project at Swastik Park, Chembur, in Mumbai, with an estimated revenue potential of around Rs 600 crore.
GHV Infra Projects rose 4.67% after the company entered into a construction contract worth Rs 1,250 crore with APCO Infratech for infrastructure development in Maharashtra.
Adani Enterprises gained 1.98% after the company announced that its step-down wholly owned subsidiary, Adani Airport City, has incorporated four new wholly owned subsidiaries. The newly incorporated entitiesAMACL, AJACL, ALACL, and ATACLwere formed on April 8 and April 9, 2026. All four subsidiaries are based in India and are wholly owned by Adani Airport City, which is a step-down wholly owned subsidiary of Adani Enterprises.
Mahindra & Mahindra declined 1.28%. The company announced that its sales stood at 100,194 units in March 2026, registering the growth of 22.37%, compared with 81,880 units sold in March 2025.
NCL Industries rose 0.58%. The company said that the companys cement production for Q4 FY26 stood at 8,02,600 MT compared to 7,90,663 MT in Q4 FY25, reflecting a 2% increase on a year-on-year (YoY) basis.
R R Kabel fell 1.24%. The company has announced the expansion of its fast-moving electrical goods (FMEG) portfolio with its foray into the kitchen appliances segment and the expansion of its air coolers range under its premium appliance brand, 'RR Signature.'
IPO Update:
The initial public offer (IPO) of Om Power Transmission received bids for 1,97,62,330 shares as against 60,02,730 shares on offer, according to stock exchange data at 16:45 IST on Monday (13 April 2026). The issue was subscribed 3.29 times.
The issue opened for bidding on 9 April 2026 and it will close on 13 April 2026. The price band of the IPO is fixed between Rs 166 and 175 per share.