Friday the 13th jitters: Sensex tanks over 1,100 pts, Nifty slips below 24,700 as Israel-Iran tensions flare
Indian benchmark equity indices plunged in early trade on Friday, mirroring sharp losses in Asian markets after
Israel
launched military strikes on Iran, heightening geopolitical tensions in the oil-rich Middle East.
At around 9:19 am, the BSE
Sensex
was down 1,163 points, or 1.42%, at 80,528, while the Nifty50 fell 284 points, or 1.13%, to 24,608.
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Among sectors,
Nifty
Oil & Gas was the worst performer, falling 1.6%, dragged by losses in Mahanagar Gas, IGL, BPCL, and IOC. Meanwhile Nifty Bank, IT, Auto, Metal, and PSU Bank indices declined between 1% and 1.5%. In the broader market, the Nifty Midcap index slipped 1.1%, and the Nifty Smallcap100 dropped 1.5%.
The market capitalisation of all listed companies on the BSE fell by Rs 5.52 lakh crore to Rs 444.06 lakh crore.
Here are key reasons behind today's
stock market crash
Live Events
1) Israeli strike on Iran
The selloff was triggered by Israel's military strike on Iran early Friday. Israel said it targeted nuclear facilities, missile factories, and top military commanders in a 'preemptive strike' to stop Tehran from developing nuclear weapons.
A state of emergency was declared in Israel in anticipation of retaliatory missile and drone attacks.
Iranian state media confirmed the death of Hossein Salami, Commander of Iran's Revolutionary Guards. Israeli officials also claimed that several senior Iranian military officials and nuclear scientists were likely killed.
U.S. Secretary of State Marco Rubio called the strike a "unilateral action" by Israel and clarified that Washington was not involved.
The attack comes amid stalled nuclear talks, with a sixth round of negotiations between the U.S. and Iran scheduled in Oman on Sunday.
2) Oil prices surge on supply fears
Brent crude futures jumped $6.29, or 9.07%, to $75.65 a barrel by 03:15 GMT after touching an intraday high of $78.50 — the highest since January 27.
U.S. West Texas Intermediate (WTI) crude climbed $6.43, or 9.45%, to $74.47 a barrel, after hitting $77.62, the highest since January 21.
These were the sharpest intraday gains for both benchmarks since 2022, when Russia invaded Ukraine, leading to a spike in energy prices.
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Shafaq News
a day ago
- Shafaq News
US distances itself from Israeli strikes on Iran
Shafaq News/ US Secretary of State Marco Rubio confirmed late Thursday that the United States was not involved in Israel's military strikes against Iran, describing the operation as a 'unilateral action' by Tel Aviv. 'Tonight, Israel took unilateral action against Iran,' Rubio said in a statement issued by the White House shortly after reports of explosions in Tehran surfaced. 'We are not involved in strikes against Iran, and our top priority is protecting American forces in the region.' Rubio noted that Israel had informed Washington of its intention to strike and had framed the action as a matter of self-defense. He emphasized that President Donald Trump's administration has taken 'all necessary steps' to ensure the safety of US personnel and maintain coordination with regional partners. The remarks came as Israel confirmed launching Operation Rising Lion, a broad military campaign that targeted key Iranian nuclear and military sites. Iranian media reported explosions in Tehran and other cities. 'Iran should not target US interests or personnel,' Rubio warned, making clear that while the US was not a party to the strikes, it would act to defend its assets if provoked.
Yahoo
a day ago
- Yahoo
Netanyahu: Very Successful Opening Strike
Israeli Prime Minister Benjamin Netanyahu said Israel's opening strike on Iran was 'very successful,' in a video message released by his office. 'We struck senior command, senior scientists who are advancing the development of a nuclear weapon and nuclear facilities,' he said.
Time of India
a day ago
- Time of India
Friday the 13th jitters: Sensex tanks over 1,100 pts, Nifty slips below 24,700 as Israel-Iran tensions flare
Indian benchmark equity indices plunged in early trade on Friday, mirroring sharp losses in Asian markets after Israel launched military strikes on Iran, heightening geopolitical tensions in the oil-rich Middle East. At around 9:19 am, the BSE Sensex was down 1,163 points, or 1.42%, at 80,528, while the Nifty50 fell 284 points, or 1.13%, to 24,608. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ballina: Waterproof Your Home [Discover] Waterproofing Services Learn More Undo Among sectors, Nifty Oil & Gas was the worst performer, falling 1.6%, dragged by losses in Mahanagar Gas, IGL, BPCL, and IOC. Meanwhile Nifty Bank, IT, Auto, Metal, and PSU Bank indices declined between 1% and 1.5%. In the broader market, the Nifty Midcap index slipped 1.1%, and the Nifty Smallcap100 dropped 1.5%. The market capitalisation of all listed companies on the BSE fell by Rs 5.52 lakh crore to Rs 444.06 lakh crore. Here are key reasons behind today's stock market crash Live Events 1) Israeli strike on Iran The selloff was triggered by Israel's military strike on Iran early Friday. Israel said it targeted nuclear facilities, missile factories, and top military commanders in a 'preemptive strike' to stop Tehran from developing nuclear weapons. A state of emergency was declared in Israel in anticipation of retaliatory missile and drone attacks. Iranian state media confirmed the death of Hossein Salami, Commander of Iran's Revolutionary Guards. Israeli officials also claimed that several senior Iranian military officials and nuclear scientists were likely killed. U.S. Secretary of State Marco Rubio called the strike a "unilateral action" by Israel and clarified that Washington was not involved. The attack comes amid stalled nuclear talks, with a sixth round of negotiations between the U.S. and Iran scheduled in Oman on Sunday. 2) Oil prices surge on supply fears Brent crude futures jumped $6.29, or 9.07%, to $75.65 a barrel by 03:15 GMT after touching an intraday high of $78.50 — the highest since January 27. U.S. West Texas Intermediate (WTI) crude climbed $6.43, or 9.45%, to $74.47 a barrel, after hitting $77.62, the highest since January 21. These were the sharpest intraday gains for both benchmarks since 2022, when Russia invaded Ukraine, leading to a spike in energy prices.
