Stock Market Today: Sensex, Nifty Tank Over 1.5% As Weak Global Cues Amid US-Iran War Continue To Weigh On Sentiment

Stock Market Today: Domestic equity benchmark indices extended their decline for the third consecutive session on March 13, 2026, as weak global cues amid the ongoing Iran war continued to weigh on investor sentiment.

The NSE Nifty 50 opened with a sharp gap-down and slipped to an intra-day low of 23,266.10, down 373.05 points, or 1.58 per cent from its previous close. The BSE Sensex also followed the same trajectory, starting with a deep gap-down and then sinking by 1,091.81 points, or 1.44 per cent to register the day's low at 74,942.61, so far.

Metal stocks led the decline, while defensive FMCG sector stocks lent some support to the benchmarks. Nifty Metal fell more than 4 per cent, and Nifty Auto and Nifty PSU Bank also fell more than 2 per cent each. On the other hand, Nifty FMCG managed to stay in the green, up around 0.50 per cent.

In the broader market, mid-caps and small-caps showed exaggerated declines, with the Nifty Midcap 100 and Nifty Smallcap 100 falling over 2 per cent each. Nifty 500, which represents more than 92 per cent of the total free-float market cap of all NSE-listed stocks, also declined more than 1.50 per cent during the trade.

Among the Nifty 50 constituents, metal stocks including Hindalco, Tata Steel, and JSW Steel declined between 3 per cent and 6 per cent. Infrastructure stocks Larsen & Toubro and UltraTech Cement were down over 3-4 per cent. Bharat Electronics was also trading lower by over 3 per cent. Auto stocks Tata Motors Passenger Vehicle and Bajaj Auto were down about 2-3 per cent.

Sell-Off In US Stock Market

Wall Street's main indices witnessed sell-off overnight as investors remained cautious amid little sign of de-escalation in the ongoing US–Israel war with Iran. Concerns that elevated oil prices could keep inflation high have also raised fears that the US Federal Reserve may delay cutting interest rates.

Dow Jones closed 1.56 per cent lower, the tech-heavy Nasdaq Composite ended 1.78 per cent lower, and the S&P 500 settled 1.52 per cent down.

Asian Markets Trade Weak

Most Asian markets were trading lower today, mirroring the weakness on the Wall Street.

Around 11:25 AM on March 13, Japan’s Nikkei 225 was trading lower by 1 per cent, South Korea's Kospi was down nearly 2 per cent, China's CSI 300 was down 0.20 per cent, while the Hong Kong-based Hang Seng was trading lower by 0.80 per cent.

Rupee Hits Record Low

Meanwhile, the Indian rupee (INR) slipped to a fresh record low against the US dollar (USD) in early trade today. The USD/INR pair rose 0.28 per cent to 92.63, extending gains for the third straight session. Since the US and Israel launched a joint military offensive against Iran on February 28, the pair has climbed about 1.70 per cent. Over the past one year, the pair has advanced 6.58 per cent.

In currency markets, the USD/INR pair indicates how many rupees are required to buy one dollar. When the pair rises, it means the rupee is weakening as more rupees are needed to purchase a dollar.

The US Dollar Index, which measures the greenback against world's six major currencies, strengthened further for the sixth consecutive session. The index surged 0.17 per cent to 99.92 level in early trade today.

Crude Oil Prices Continue to be Elevated

The Strait of Hormuz, a critical shipping route which carries one fourth of the global oil supply by sea, continues to experience high disruption.

In recent days, several ships in the Gulf region have come under attack as tensions in the Iran war escalated. Iran has warned that it will open fire on vessels trying to pass through the Strait of Hormuz after the US and Israel launched military strikes on the country.

These threats have raised concerns for global trade, as the narrow waterway is one of the world’s most important shipping routes and carries a large share of global oil supplies.

As a result, crude oil prices surged by about 40 per cent since the Iran war started.

The Brent crude oil futures was trading 0.83 per cent higher at $101.30 per barrel, while the US oil benchmark West Texas Intermediate (WTI) crude futures was quoting higher by 0.55 per cent at $96.26 per barrel.