It’s Friday, June 13.
Today was a turbulent day for investors, both emotionally and financially.
Let’s start with the numbers.
The Sensex fell 573 points to close at 81,118, while the Nifty50 ended 169 points lower, settling at 24,718.
Earlier in the day, markets were in freefall — with the Sensex down over 1,300 points and Nifty hitting an intraday low of 24,473.
So, what triggered the sell-off?
Reason #1: Israel strikes Iran
In a dramatic escalation of Middle East tensions, Israel launched a preemptive military strike on Iran’s capital, Tehran.
The airstrikes reportedly targeted nuclear sites, missile factories, and top Iranian commanders, including Revolutionary Guards chief Hossein Salami, whose death has been confirmed by Iranian state media.
A state of emergency has been declared in Israel, and markets fear retaliatory attacks.
Washington has distanced itself from the strike, calling it a “unilateral action.”
This geopolitical flashpoint shook global markets — and India wasn’t spared.
Reason #2: Crude oil prices spiked
Brent crude surged over 6.6% to $74.15, after hitting $78.50 — the highest since January.
WTI crude wasn’t far behind, rising 7.3% to $72.91.
Markets are worried that if Iran retaliates by blocking the Strait of Hormuz, oil supply could be severely restricted.
And we’ve seen this story before — back in 2022, similar fears sent energy prices soaring.
Reason #3: Global sell-off
The ripple effect extended beyond oil.
Asian markets tumbled — Japan’s Nikkei, South Korea’s KOSPI, and Hong Kong’s Hang Seng all lost over 1%.
In Europe, the DAX, CAC 40, and Euro Stoxx followed suit.
The mood? Risk-off.
Safe-haven rally
As panic set in, investors fled to safety.
Gold shot up to $3,416 per ounce, approaching its all-time high.
The Swiss franc and Japanese yen gained.
US 10-year Treasury yields dropped to a one-month low of 4.31%.
And the Dollar Index climbed 0.5% — classic flight-to-safety.
Closing Thought:
The BSE’s market capitalisation dropped by ₹2.17 lakh crore, wiping out a chunk of investor wealth in just a few hours.
It’s a reminder that in today’s connected world, geopolitics and markets move hand in hand.
That’s all for today on ET Market Watch. We’ll keep watching the numbers — and the world behind them.
