Stock Market Updates: Gift Nifty falls 250 points as Israel strikes Iran
By Aditya Bhagchandani Published on June 13, 2025, 06:52 IST
Gift Nifty plunged over 241 points on Friday morning, falling 0.97% to 24,756 as global and domestic concerns rattled investor sentiment. The early weakness comes after Israel conducted airstrikes on Iran, dramatically escalating tensions in the Middle East and raising fears of a broader regional conflict.
According to reports by Bloomberg, explosions were heard in Tehran after Israel launched what it described as a 'preemptive strike' against Iran's military infrastructure. Israeli Defense Minister Israel Katz declared a 'special state of emergency,' anticipating retaliatory missile and drone attacks from Iran. The sudden deterioration in geopolitical stability has sent shockwaves across global markets.
Closer home, investor sentiment has also been shaken by the tragic crash of Air India's Dreamliner flight AI171 in Ahmedabad. The incident claimed over 317 lives, including all 242 on board and at least 75 civilians in residential flats struck by the falling aircraft. The psychological impact of the disaster has extended beyond the aviation sector, casting a shadow on broader market confidence.
With both global tensions and local tragedy at play, market watchers are bracing for increased volatility across sectors in the coming sessions.
Disclaimer: The information provided in this article is for informational purposes only and is based on publicly available sources, including official statements and news reports. Market data, casualty figures, and geopolitical developments are subject to change as more verified updates become available. Readers are advised to refer to official authorities and financial experts before making any decisions based on this content. The publisher does not assume any responsibility for the accuracy or completeness of the information presented.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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Residents in Israel, Iran on high alert amid airstrikes
June 13 (UPI) -- Amid Israel's massive airstrikes on Iran and the Islamic nation's missile response in two barrages Friday aimed at the Jewish state, residents in both nations are on high alert. Both nations were deserted as shops were closed, public gatherings canceled and flights not taking off and landing one day. Hospitals were relocating patients and preparing to receive wounded, as well. In Israel, sirens sounded amid a major Iranian ballistic missile attack. Overnight, an estimated 100 missiles were launched from Iran at Israel, according to an Israeli military source. Israel Defense Forces worked to "intercept the threats" and most of the drones were deterred. Later Friday, a second barrage of missiles were aimed at Israel. Israeli Defense Minister Israel Katz said Iran crossed red lines" by firing missiles at civilian population centers. In Iran, Tehran's air defense system has been activated after a number of strikes were carried out across the nation, its state-run Mehr News reported. Iran has 90.6 million residents, including 9.6 million in Tehran. In the capital, demonstrators called for retaliation after the Israeli strikes. Residents in Israel, a nation of 9.7 million, were urged to be prepared to take shelter. "The Home Front Command has now instructed residents across the country to remain close to protected spaces," the Israel Defense Forces said. " Movement in public areas should be minimized, and public gatherings must be avoided. Upon receiving an alert, enter a protected space and remain there until an official update is issued." IDF spokesman Brig. Gen. Effie Defrin urged residents to prepare for "many days of war." "We are aware of the enemy's intentions to harm us, and there will be more attempts of this kind. We still have challenges ahead," Defrin said. Life in Israel, Iran Much of Israel was deserted, except for people stocking up in essentials, with businesses and events canceled. A Pride Parade scheduled for Friday was called off. Municipal workers dismantled unused stages set up along the parade's path. A few people in the area sunbathed, smoked and played soccer on the sand. Commerce at the open-air Carmel market nearby in Tel Avis was much less than usual traffic on a Friday, the day before the sabbath, when many businesses are closed. Jerusalem is a non-secular, holy city that closes on Saturday. Some flocked to the few eateries and flower shops that decided to open for business. Most shops, especially for clothing, jewelry and books, appeared shuttered. "There are no people," says Victor, who owns a flower shop at the entrance to the open-air Carmel market, told The Times of Israel, which did not publish his full name. Victor, who has access to a safe room at his business, opted not to close. "Not for a minute. I'm self-employed, I have no choice," he said. Supermarkets, however, were crowded as Israelis prepared to be homebound for days. The Carrefour supermarket chain opened at 6 a.m., an hour earlier than usual. In Iran, residents in Tehran were awakened to airstrikes. "Both my husband and I were thrown from our bed," a resident of the northern Tehran neighbourhood of Kamranieh, told Middle East Eye. "The explosions didn't stop. We had no idea what was happening." The woman discovered an apartment across the street had been bombed. It was the residence of Ali Shamkhani, an adviser to Iran's supreme leader, who was among the senior Iranian officials reportedly killed. Nuclear enrichment plants and launch sites were targeted as opposed to civilian populations. Government response Israel has closed its embassies around the world. Officials advised all Israelis abroad to fill out a survey to update the ministry on their location and situation. The U.S. Embassy in Jerusalem has directed all of its staff and their family members to shelter in place until further notice. There are approximately 40,000 troops in the Middle East, along with Navy ships in the Mediterranean Sea The U.S. Navy has directed the destroyer USS Thomas Hudner, which is capable of defending against ballistic missiles, to begin sailing from the western Mediterranean Sea toward the eastern Mediterranean. A second destroyer was directed to begin moving forward so it can be available. Israel has approximately 169,500 active personnel and has called up reservists as they are stationed through Israel, including fighting Hamas on the Gaza Strip. Hospitals Magen David Adom, which is Israel's national emergency service agency, began evacuating patients and premature infants to protected areas amid a special state of emergency. MDA treats and transports more than 1 million people to hospitals every year. Rambam Medical Center in Haifa is urging people not to come there unless cases are medically necessary. Also in Haifa, Bnei Zion Medical Center has begun transferring departments to a protected building and designated areas. A spokesperson for Sheba Medical Center in Tel Aviv said: "Piece by piece, phase by phase, the hospital is being moved underground. The general intensive care unit is already protected, as is the operating room, and the hospital continues to operate as usual." Flights Airspace was closed over Israel, Jordan, Iran and Iraq on Friday. That included Tel Aviv's Ben Gurion airport, which is the 117th largest airport in the world. "The airspace of the State of Israel is closed to takeoffs and landings until further notice," the Ministry of Transport announced. "The purpose of the closure is to prevent and minimize risks to passengers and aircraft. Passengers scheduled to depart from Ben Gurion Airport today are requested to remain at home and not arrive at the airport." Passengers whose flights were in the air after the airspace was closed landed at alternative airports. Airlines worldwide canceled flights. Airlines offered travel vouchers and waived change fees. Delta Air Lines on Friday said it was suspending service to Tel Aviv until at least September, a few weeks after resuming flights there. The city of Tabriz reportedly severely damaged the city's international airport, according to Ynet News.
