Equities Fall as Oil Breaches $100, West Asia Tensions Weigh

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

India Stocks fall

By Dehuti Jani

April 13, 2026 at 11:40 AM IST

Indian equities declined on Monday, tracking weakness across Asian markets as crude oil surged above $100 per barrel amid escalating tensions in West Asia following stalled US-Iran talks. The Nifty50 fell 0.86% to 23,842.65, while the BSE Sensex declined 0.91% to 76,847.57, though both indices recovered from sharper intraday losses of over 2% as buying emerged in the latter half of the session.

Broad-based selling was seen across sectors, with 15 of 16 sectoral indices ending lower, as higher oil prices raised concerns over inflation and corporate margins. Auto, oil & gas and FMCG stocks led the decline, while tourism, paint and oil marketing companies came under pressure due to rising input costs. However, defence stocks provided some support, helping indices trim losses. Among gainers, HDFC Life Insurance Company, ICICI Bank and Adani Enterprises showed resilience.

Broader markets also ended lower but off their day’s lows, with mid-cap and small-cap indices declining 0.57% and 0.46%, respectively. The Nifty India Defence Index outperformed among thematic indices, reflecting continued investor interest in defence names amid geopolitical uncertainty. Meanwhile, the Indian rupee weakened 0.7% to 93.38 against the US dollar, adding to cautious sentiment.

Top Movers of the Day

TCS declined 2.2% to ₹2,470 as weak Q4 commentary continued to weigh on sentiment; investors remained cautious on growth outlook.

Infosys declined 1.2% to ₹1,276 tracking sector-wide weakness; concerns over demand softness kept pressure on IT stocks.

HCL Technologies declined 1.5% to ₹1,428 amid continued selling in IT names; earnings-related uncertainty drove profit booking.

Hindalco Industries gained 1.6% to ₹976 as metal stocks advancedfirm commodity prices supported buying interest.

Reliance Industries fell 2.6% to ₹1,314 after crude oil prices rebounded to $105 per barrel. Oil prices increased after the cessation of ceasefire negotiations between the United States and Iran.

InterGlobe Aviation (Indigo) declined 2.6% to ₹4,433 as aviation stocks came under pressure due to elevated crude prices weighed on margins.

Sun Pharmaceutical declined 1.8% to ₹1,610 as pharma stocks lagged; investors continued to book profits in defensives.

Puravankara gained 17.3% to ₹229 as Q4 sales surged over 190% YoY; strong bookings momentum drove sharp re-rating.

Tata Chemicals gained 4.3% to ₹1,180 as sentiment improved on reports of Tata Sons listing; restructuring hopes supported buying. Tata Investment Corporation gained 8.6% to ₹6,420 on the same trigger.

Zydus Wellness gained 13.0% to ₹552.4 on heavy volumes as the stock hit a 52-week high amid strong momentum buying.

MCX gained 3.5% to ₹2,764 as the stock extended its rally on sustained momentum over recent sessions supported sentiment.

Jyoti CNC Automation declined 13.6% to ₹707.9 as sharp selling pressure emerged; profit booking followed recent gains.

JBM Auto gained 1.85% to ₹622 after the draft EV policy announcement on policy support improved sector outlook.

Atul Auto gained 10.55% to ₹482 as EV-focused policy tailwinds triggered sharp gains on strong reaction to regulatory support.

Coforge gained 05% to ₹1,230 after receiving approvals for Encora acquisition as deal strengthens AI and cloud capabilities.

Futures & Options
Nifty April 2026 futures closed at 23,850, trading at a marginal premium of 7.35 points to the spot Nifty 50 close of 23,842.65, indicating cautious positioning in the derivatives segment. The index declined 0.86% or 207.95 points in the cash market amid broad-based selling.

Volatility surged, with India VIX rising 8.75% to 20.50, reflecting heightened uncertainty driven by global geopolitical tensions. In the F&O segment, HDFC Bank, ICICI Bank and Infosys were the most actively traded stock futures, highlighting continued participation in index heavyweights.

The April series is set to expire on 28 April 2026, with traders likely to remain defensive as volatility rises and global risk factors continue to influence market direction.

Bonds
India's government bond yields moved higher on Monday, reflecting a sharp risk-off sentiment after US-Iran peace talks failed and crude oil prices surged. The benchmark 6.48% 2035 bond yield rose 6 basis points intraday to 6.9697% before settling at 6.9395%, up from 6.9119% on Friday.

The rise in yields was driven by concerns that elevated oil prices could worsen inflation and growth dynamics for India, a major crude importer. Additional pressure came from the RBI’s liquidity tightening via a ₹2 trillion variable rate reverse repo auction, which signalled a shift towards draining excess liquidity. The simultaneous weakness in the rupee and equities further reinforced the cautious tone in the bond market.

Forex
Indian rupee recorded its steepest decline in two weeks on Monday, pressured by a sharp rise in crude oil prices and fading support from arbitrage-driven dollar inflows. The currency weakened 0.7% to close at 93.3750 against the US dollar, marking its biggest fall since March 27. The sell-off comes as oil prices surged past $100 per barrel, worsening India’s external balance outlook, while earlier support from banks unwinding arbitrage positions triggered by the Reserve Bank of India has now dissipated.

Crypto
Crypto markets came under pressure as rising geopolitical tensions in West Asia triggered a risk-off move across global assets. Bitcoin fell 0.84% to $70,887, slipping below the $71,000 mark after retreating from a weekend high near $74,000, as the breakdown of US-Iran talks and a naval blockade of the Strait of Hormuz heightened uncertainty.

Ethereum declined 1.04% to $2,189.51, tracking broader weakness across digital assets. Most major altcoins also moved lower, although Hyperliquid and BNB bucked the trend with modest gains. The sharp rise in oil prices to around $105 per barrel and a broader global equity sell-off reinforced the negative sentiment, with crypto continuing to trade in line with macro risk appetite.

US Stock Futures
US stock futures fell on Monday, reversing recent optimism as weekend peace talks failed to deliver a breakthrough, dampening investor sentiment. Futures on the Dow Jones Industrial Average declined 0.42%, while S&P 500 futures dropped 0.53% and Nasdaq-100 futures fell 0.64%.

The pullback reflects renewed uncertainty after expectations of progress following last week’s ceasefire were not met. Market sentiment turned cautious as reports indicated that the US military is preparing a blockade of maritime traffic linked to Iranian ports, raising the risk of further escalation in West Asia and keeping volatility elevated.

US Treasury Notes
Yields on US Treasury moved higher as escalating tensions in West Asia increased inflation concerns and reduced expectations of near-term Federal Reserve rate cuts. The benchmark 10-year Treasury yield rose to 4.333%, while the policy-sensitive 2-year yield climbed more sharply to 3.824%.

The rise in yields reflects growing market anxiety following the collapse of US-Iran peace talks and reports of a potential blockade of the Strait of Hormuz, which could disrupt energy supplies and push oil prices higher. Elevated crude prices are reinforcing inflation risks, prompting investors to reassess the path of monetary policy and keeping bond markets under pressure.

Top News