Middle East Tensions Drag Indian Markets; Crude Spike Hits Key Sectors

Indian equities opened nearly 1% lower on June 13 as escalating Israel–Iran tensions spurred a global risk-off mood. Brent crude surged over 10%, its biggest weekly gain since 2022, raising concerns across energy-dependent sectors. Analysts warn that prolonged high crude prices may impact oil marketing companies, airlines, tyres, paints, lubricants, and exporters like basmati rice. The rising oil bill could widen India’s current account deficit, pressure inflation, and weaken the rupee. Experts suggest caution in financials, auto, and cement stocks. Nifty has key support at 24,250; a breach could push it down to 23,900. The defence sector may benefit amid geopolitical uncertainty. Follow our LIVE blog for ongoing market updates.