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Freaky Friday! Sensex Tanks 1,470 Points, Nifty Below 23,200; Tata Steel Cracks 5%, SBI 4%

Posted By: Hemant Kumar Posted On: Mar 13, 2026Share Article
Freaky Friday

Freaky Friday! Sensex Tanks 1,470 Points, Nifty Below 23,200; Tata Steel Cracks 5%, SBI 4%

Stock Market Today: Indian benchmark indices Sensex and Nifty ended sharply lower, weighed down by escalating concerns over the prolonged US–Iran conflict, which has intensified the ongoing gas supply crunch and dampened investor sentiment.

The Nifty50 closed 488.05 points, or 2.06 per cent, lower at 23,151.10, while the Sensex declined 1,460.50 points, or 1.93 per cent, to settle at 74,563.92.

Broader markets mirrored the weakness in frontline indices. The Nifty MidCap index fell 2.62 per cent, while the Nifty SmallCap index declined 2.52 per cent by the end of the session.

On the sectoral front, metal stocks bore the brunt of the selling, with the Nifty Metal index tumbling 5 per cent to emerge as the worst-performing sector. The Nifty PSU Bank and Nifty Media indices also witnessed significant declines, reflecting broad-based pressure across the market.

Investor sentiment globally has turned cautious as the conflict in the Middle East intensifies and threatens the stability of the Strait of Hormuz — a critical chokepoint through which roughly 20% of the world’s oil supply passes. Disruptions to tanker traffic and attacks on vessels have sharply reduced shipping activity in the region, raising fears of prolonged energy supply disruptions.

The geopolitical escalation has already rattled global markets. Major US indices fell sharply on Thursday, while oil prices surged above $100 per barrel, triggering concerns about inflation and slower global growth.

Market volatility has been driven by fears that Iran could continue blocking or disrupting shipping through the Strait of Hormuz. Analysts warn that a prolonged disruption could send oil prices significantly higher and deepen the global risk-off mood.

For India, which imports the majority of its crude oil, higher energy prices pose risks for inflation, fiscal balances, and corporate profitability. Energy-intensive sectors such as aviation, paints, chemicals, and logistics may face pressure if crude remains elevated.

The Nifty50 closed 488.05 points, or 2.06 per cent, lower at 23,151.10, while the Sensex declined 1,460.50 points, or 1.93 per cent, to settle at 74,563.92.

IFCI shares surged over 11% after the National Stock Exchange (NSE) appointed 20 merchant bankers and eight law firms for its upcoming IPO. IFCI holds an indirect stake in NSE through its subsidiary, Stock Holding Corporation of India, which could be a selling shareholder in the offer-for-sale.

Farmers must complete eKYC verification to receive payments under the PM-KISAN scheme.

Uttar Pradesh has the highest number of PM-KISAN beneficiaries, with over 2.16 crore farmers registered under the scheme.

The Sensex crashed more than 1,500 points to 74,516, while the Nifty 50 dropped about 490 points to 23,149 as of 1:40 pm. The sharp selloff wiped out over Rs 10 lakh crore from the total market capitalisation of all companies listed on the BSE, pulling it down to Rs 429.84 lakh crore.

Notably, Sensex has fallen below the 75,000 mark and Nifty 50 has dropped below the 23,200 level for the first time today since April 2025.

Shares of fast-moving consumer goods (FMCG), information technology (IT) and real estate companies continued to trade under pressure with all these indices hitting respective 52-week lows on the BSE in Friday’s intra-day trade as the benchmark index extended its slide.

Shares of gas-related companies have been in limelight lately due to supply disruptions of crude oil and natural gas via the Strait of Hormuz amid the US-Iran war. Stock prices of gas transmission and marketing companies, barring Adani Total Gas (ATGL), have tanked up to 14 per cent thus far in March.

The cryptocurrency markets remained buoyant in trade on Friday, with Bitcoin holding above $71,500 after crossing the $70,000 resistance level, while Ethereum stayed above $2,100. On a weekly basis, the flagship token Bitcoin has surged 9.13 per cent from $65,969.78 recorded on March 8, while Ethereum posted a gain of nearly 10.88 per cent from $1,936.60 on the same date.

​National ​Bank for Agriculture ​and Rural Development (NABARD) plans to raise 80 billion ‌rupees ($866.12 million) ⁠through ⁠the sale of ​bonds maturing in three years and ​four months, three bankers said on ​Friday.
NABARD has ⁠invited coupon ‌and commitment ​bids ​for the ⁠issue on Monday, they said.

Silver prices are expected to remain volatile as surging oil lifts the dollar and reduces Fed rate-cut hopes, while Iran war tensions keep markets on edge.

As of 11:00 AM, the Nifty50 was trading 1.18 per cent or 275.50 points down at 23,366.60, and the Sensex was trading 766.60 points or 1.01 per cent down at 75,267.82.

Coal India shares hit a fresh 52-week high as rising temperatures and heatwave warnings raised expectations of strong summer power demand. Analysts remain positive on the company’s outlook, citing stable coal prices, rising domestic supply and strong demand from power and industrial sectors. Brokerages see further upside supported by steady earnings and dividends.

Sectoral indices show broad-based selling with most sectors in the red. Nifty Metal leads losses, followed by Realty, Consumer Durables and PSU Banks. Financials and autos are also weak, reflecting risk-off sentiment. FMCG is the only sector in green, indicating defensive buying as investors shift towards safer consumption stocks amid market pressure.

The Nifty India Defence declined over 3 per cent as Bharat Forge and Bharat Electronics shares dragged.

The Nifty FMCG was the lone sectoral gainer among broader sell-off.

“If one looks at past geopolitical crises, a very interesting pattern emerges in the way markets react.
Almost without exception, in most crises, the bulk of the price damage—particularly in the Indian markets—tends to happen within the first few days of the outbreak of the conflict. After the initial shock, markets may remain volatile for some time, but historically the sharpest correction usually occurs in those early days.
The current crisis triggered by the US-Iran tensions may not be very different in that sense. However, since the situation has strong linkages to crude oil prices via the Hormuz Channel, the volatility could be more intense this time around.
Having said that, it is quite likely that the worst of the price damage may already have played out in the initial phase. What may follow from here is continued volatility, but not necessarily sustained or deeper price declines, particularly in the broader small and mid-cap space.
From that perspective, this could be an opportune time to gradually start allocating capital to the broader market. Of course, it is impossible to predict when exactly the conflict will subside or when markets will fully digest the developments. One will know that only in hindsight.
But if history is any guide, almost every geopolitical crisis has eventually turned out to be a compelling buying opportunity, especially in the broader small and mid-cap segments in the Indian context.
It is time to invest, not to time the bottom. However, the approach needs to remain selective, bottom-up, and gradual. In the current environment, disciplined stock pickers are almost spoilt for choice, with no dearth of compelling opportunities emerging across the broader market.”

As of 10:00 AM, the Nifty50 was trading 1.24 per cent or 294.05 points down at 23,345.10, and the Sensex was trading 1.12 per cent or 882.93 points down at 75,151.49.

Oil prices fell on Friday morning after the US issued a 30-day license allowing countries to purchase Russian oil and petroleum products currently stranded at sea, easing concerns over supply disruptions.

The dollar held on to its gains on Friday and was headed for a second consecutive weekly rise since the war in Iran began, as market turmoil reinforced its appeal as the last major safe-haven currency.

Adobe announced on March 12 that its long-time Indian-American chief executive Shantanu Narayen plans to step down after leading the company for nearly two decades. The decision comes as the design software giant prepares to navigate rapid shifts in the artificial intelligence (AI) era and rising competition in the technology sector.

Brent crude oil prices hovered around $100 per barrel as there are no signs of de-escalation of the Iran-US war, with both parties remaining adamant to continue operations of attacking each other. Oil prices saw a sharp spike yesterday to cross $100 per barrel mark for the second time since the tensions escalated after the killing of Iran’s Supreme Leader Ali Khamenei in a joint operation known as ‘Epic Fury’.

Asian stocks declined in early trading on Friday, tracking overnight losses on Wall Street, while oil prices remained in focus amid rising concerns that the escalating conflict in Iran could disrupt energy supplies and fuel inflation.

GIFT Nifty on the NSE IX traded lower by 154 points, or 0.65 per cent, at 23,557.50, signaling that Dalal Street was headed for a negative start on Friday.

Source: News18
Related Posts: Stock Market Live Updates, Indian equity markets, Iran-US conflict, crude oil prices, SGX Nifty, Nifty 50, Middle East conflict, Strait of Hormuz

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