Indian benchmark indices opened lower on Monday, 13 July, as escalating tensions in the Middle East dampened investor sentiment. Concerns intensified after Iran claimed to have closed the Strait of Hormuz following a fresh exchange of missile and drone attacks with the United States, sending crude oil prices sharply higher.
At around 9:15 IST, the Nifty 50 declined 0.69% to 24,039.40, while the BSE Sensex fell 0.78% to 76,963.35.
The weakness was broad-based, with all 16 sectoral indices trading in negative territory. The broader market also came under pressure, as both the Nifty Midcap and Nifty Smallcap indices slipped around 0.6% each.
Investor sentiment remained cautious after US and Iranian forces exchanged fresh missile and drone strikes over the weekend. Iran said it had targeted US military facilities across Gulf states and reiterated that it had closed the strategically important Strait of Hormuz, raising fears of potential disruptions to global oil supplies and higher inflation.
Market Outlook by Dharmesh Shah, Vice President, ICICI Securities
Nifty 50 snapped four weeks winning streak and settled the volatile week on a muted note at 24,206, down 0.25%. Broader market defied the benchmark move by gaining 1% wherein midcap index clocked a fresh all-time high. Sectorally, Realty extended its gains along with revived traction in beaten down sectors like consumer discretionary and IT. Meanwhile, FMCG and PSU Bank extended breather.
Key Monitorable
- Inflation print for India and US
- Any positive development on geopolitical front and resultant cool off in crude oil prices
- Q1FY27 earnings
Stock To Buy This Week – Dharmesh Shah
Dharmesh Shah of ICICI Securities recommends buying Shriram Finance, and Brigade Enterprise.
Buy Shriram Finance in the range of ₹1,022-1,044. He has Shriram Finance share price target of ₹1,134 with a stop loss of ₹1,008.
Buy Brigade Enterprise in the range of ₹560-574. He has Brigade Enterprise share price target of ₹608 with a stop loss of ₹539.
Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 10/07/2026 or have no other financial interest and do not have any material conflict of interest.
The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
