Global energy markets jolted higher after the US announced a blockade targeting vessels linked to Iran through the Strait of Hormuz, following the collapse of diplomatic talks over the weekend. Benchmark Brent crude surged over 8% to cross the $103 per barrel mark, while US crude and European natural gas prices also recorded sharp gains.
Brent Crude jumps past $103 again as US blockade of Hormuz spikes supply fears- Daily Market Update 13th April 2026
Overview and Outlook
Global Stock Market Today
- US equity markets, barring NASDAQ, settled on a negative note.
- European equity markets ended on a flat note.
- Asian equity markets are trading lower
- GIFT Nifty is down by 350 points, Nifty futures likely to open around 23750 levels.
The benchmark Nifty index ended higher at 24050 spot levels after adding 275 points to its previous closing values.
Broader markets slightly outperformed the benchmark as Mid and Small cap indices gained over 1.5% each.
All sectoral indices, barring IT that fell around 2%, ended higher. Amongst them, Auto, Banking, Financial Services, Realty and Media index were among the top performer, rose in range 2& to 3%.
Gift Nifty is indicating a gap-down opening for the domestic market following collapsed talk between the US and Iran. On levels front, 23680-23650 (spot) will act as an immediate support on the downside; however, a sustained trading below this zone might drag it towards 23500 spot levels. On the flip side, 24100-24200 spot levels will be an immediate intraday hurdle.
Derivatives Overview & Outlook
Last Friday, Finnifty and Midcapnifty futures added around 1% and 3% of open interest as long buildup along with some short covering in Nifty futures that shed 5.4% of open interest. On the other hand, Banknifty futures were up around 2% without any significant change in the open interest.
All F&O sectors, barring Technology, settled on a positive note. Amongst them, long buildup was seen among Capital Goods stocks along with some short covering among Automobile, Banking and Oil & Gas stocks.
On option front, put writing along with some call addition was seen at multiple strikes. Maximum positions are at 25000 CE followed by 24500 CE and 23000 PE followed by 24000 PE.
Institutional Trading Activity
Last Week, FIIs sold stocks worth Rs 18235 Cr in the cash segment, bought stocks futures worth Rs 3115 Cr also bought index futures worth Rs 9730 Cr. DIIs were net buyers in the cash segment to the tune of Rs 21603 Cr during the week.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24400-24600; Supports 23800-23600
Banknifty – Resistances 56500-57000; Supports 55500-55000
Finnifty – Resistances 26500-26600; Supports 26100- 25900
F&O stocks in ban today: SAIL & SAMMAANCAP
Important Results Today: ICICIAMC, INDBNK & JUSTDIAL
Disclosure
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