Sensex, Nifty Decline As Crude Prices Jump Following Tanker Attacks In Hormuz, June Inflation Breaches RBI Target

Stock Market Today: Equity benchmark indices opened lower on July 14, 2026, as a fresh escalation in the US-Iran conflict sent crude oil prices sharply higher, prompting investors to pare risk exposure amid weak global sentiment.

The BSE Sensex declined 344 points, or 0.44 per cent, to open at 77,272.34, while the NSE Nifty 50 fell 143 points, or 0.59 per cent, to 24,068 in early trade.

Auto and banking stocks bore the brunt of the selling pressure, while buying interest was seen in IT, pharma, healthcare, FMCG and metal counters.

The broader market mirrored the benchmark indices, with the Nifty Midcap 100 and Nifty Smallcap 100 also opening in the red.

Nifty 50 Top Gainers And Losers

Among the Nifty 50 stocks, Tata Consultancy Services, the country's largest IT services company, Wipro and Tech Mahindra, both IT services providers, Nestle India and Tata Consumer Products, major FMCG companies, Coal India, the state-owned coal miner, Bharti Airtel, one of India's largest telecom operators, Hindalco Industries, a leading metals producer, Cipla, a pharmaceutical company, Max Healthcare Institute, a hospital operator, and ONGC, the country's largest oil and gas explorer, were among the top gainers.

On the losing side, Shriram Finance, a non-banking financial company (NBFC), InterGlobe Aviation, the parent of IndiGo airlines, and Bajaj Finance, another leading NBFC, fell more than 2 per cent, emerging as the biggest drags on the benchmark. They were followed by UltraTech Cement, Bajaj Auto, Mahindra & Mahindra, Grasim Industries, Larsen & Toubro, HCL Technologies, and Tata Motors, which declined between 1 per cent and 2 per cent.

US Reinstates Naval Blockade In Hormuz

Investor sentiment remained under pressure after the US reinstated a naval blockade on Iranian shipping through the Strait of Hormuz and imposed a 20 per cent transit fee on cargo moving through the key shipping route. The developments fuelled concerns over disruptions to global oil supplies, sending crude oil prices sharply higher and reviving inflation worries.

The US carried out a third consecutive night of strikes across Iran, while Tehran responded by targeting regional US allies. Iran also claimed to have struck two "rogue supertankers". An Indian crew member was killed and eight others wounded in Iranian missile attacks on the two Emirati oil tankers.

India's Retail Inflation Breaches RBI's 4% Target For First Time In 17 Months

India's retail inflation crossed the Reserve Bank of India's (RBI) 4 per cent target in June, marking the first such instance in 17 months, according to government data released on July 13.

Consumer Price Index (CPI)-based inflation rose to 4.38 per cent in June from 3.93 per cent in May. The increase came as fuel prices hardened following supply disruptions due to the Iran conflict, while a delayed monsoon kept food prices elevated.

The latest inflation reading could complicate the RBI's monetary policy outlook. A sustained rise in inflation may reduce the central bank's flexibility to lower interest rates further, as it balances supporting economic growth with keeping price pressures under control.

Oil Prices Rally Following Escalation In US-Iran War

Brent crude futures, the global oil benchmark, climbed nearly 2 per cent to trade above $85 a barrel after surging about 6 per cent in the previous session. US West Texas Intermediate (WTI) crude also extended gains, rising more than 2 per cent to $79.70 a barrel, following a 7 per cent jump in the last trading session.