Market Update: Gift Nifty Indicates Gap-Down; US-Iran Tensions Impact Commodities & Stocks

Mo. Basuony

Published: April 13, 2026 12:40 AM ET

Market Update: Gift Nifty Indicates Gap-Down; US-Iran Tensions Impact Commodities & Stocks

The Indian market closed a highly volatile week on a strong note. Data for April 6–10, 2026 showed the best weekly performance in over five years.

Weekly market performance

The Nifty 50 rose from 22,713 to 24,050. That is a weekly gain of 1,337 points, roughly 6%.

The BSE Sensex climbed from 73,319 to 77,550. Gains were about 4,231 points, near 5.75%.

Bank Nifty moved from 51,548 to 55,912. The index gained 4,364 points, or about 8.5%.

Drivers of the rally

Improving global sentiment helped risk appetite for emerging markets. Hopes of easing Middle East tensions ahead of US‑Iran talks supported markets.

Domestic institutional buying and selective short covering added momentum. Ongoing earnings optimism and stable rupee and bond yields helped too.

Early week weakness signalled

Gift Nifty was down more than 300 points in early Monday trade. This indicated a large gap‑down opening on Dalal Street.

Experts linked the weak start to failed ceasefire talks between the US and Iran in Islamabad. Reports of a possible US naval blockade of Iranian ports intensified concerns.

Market Update: Gift Nifty Indicates Gap-Down; US-Iran Tensions Impact Commodities & Stocks was the tone among traders on Monday.

Global market reaction and commodities

Asian indices traded lower amid risk aversion. South Korea’s Kospi fell over 1% and Japan’s Nikkei slipped more than 0.5%.

Crude prices jumped sharply after the failed talks and blockade reports. Brent rose 8.36% to $103.16 a barrel.

WTI climbed 8.22% to $104.57 a barrel. European gas futures spiked almost 18% at one point.

Impact on India

Higher oil is a key risk for India due to import dependence. It can pressure inflation, the currency, and corporate margins.

Analyst Anuj Gupta warned that rising crude could revive inflation fears. He said the move could slow growth and push central banks toward hawkish policy.

Precious metals and volatility

COMEX gold fell by up to 2.2%, dropping below $4,650 an ounce during Asian trade. COMEX silver slid 3.29% to $74 an ounce.

India VIX closed at 18.8 on Friday. It is expected to move higher and could reclaim levels above 20 amid uncertainty.

FII and DII activity

On the previous Friday both FIIs and DIIs were net buyers in cash. FIIs bought ₹672.09 crore in the cash segment.

DIIs bought ₹410.05 crore in cash. FIIs also bought ₹3,438.35 crore in index futures and ₹7,018.01 crore in index options.

Technical and market outlook

Ajit Mishra of Religare Broking urged caution. He recommended a positive stance only if Nifty holds above 23,500, the 200 DEMA.

Vatsal Bhuva of LKP Securities said Bank Nifty shows recovery signs. Weekly charts are bullish, while daily charts hover around the 200 SMA.

He noted a bullish momentum crossover. Nearby resistance sits near 56,200 and support around 55,300. The 50‑day SMA may be tested near 57,000.

Analysts’ stock recommendations

Several analysts listed intraday and short‑term picks for April 13, 2026. Recommendations came from Choice Broking, Anand Rathi, and Prabhudas Lilladher.