Market Wrap, April 13: SENSEX falls 703 pts, NIFTY50 ends below 23,900 as auto stocks drag; Eicher Motors top loser

The Indian stock market closed with losses on Monday, April 13, as auto stocks dragged while the investor sentiment remained cautious after ceasefire talks between the United States and Iran ended without an agreement over the weekend.

The S&P BSE SENSEX had touched an intraday low of 75,868.32 on Monday before closing at 76,847.57, declining 702.68 points, or 0.91%.

The 50-share index NIFTY50 closed at the 23,842.65 level, tumbling 207.95 points, or 0.86%. During the intraday period, the index had touched a low of 23,555.60.

US President Donald Trump accused Iran of failing to uphold a ceasefire agreement over maritime access in the Strait of Hormuz, as shipping through the narrow waterway appeared to stall on Thursday. “Iran is doing a very poor job, dishonourable some would say, of allowing oil to go through the Strait of Hormuz. That is not the agreement we have!” Trump wrote on his Truth Social platform.

Meanwhile, crude oil prices in the global market surged past $102 per barrel (bbl) on Monday after US President Donald Trump disclosed that the US-Iran talks had failed over the weekend and the United States is planning to blockade the marine traffic at the Strait of Hormuz.

According to exchange data, on Friday, both the foreign institutional investors (FIIs) and the domestic institutional investors (DIIs) bought equities worth ₹672.09 crore and ₹410.05 crore, respectively, on a net basis.

On the global front, markets in Asia ended lower on Monday as crude oil prices jumped above $100 per barrel after ceasefire talks between US Vice President JD Vance and Iran's Parliamentary Speaker Mohammad Bagher Ghalibaf failed to reach an agreement over the weekend in Islamabad.

Japan's Nikkei dropped 0.75%, Hong Kong's Hang Seng fell 0.69%, and South Korea's KOSPI fell 0.87%, while China's Shanghai Composite rose marginally by 0.06% at close.

Last week, the US stocks largely ended lower on Friday as the Dow Jones Industrial Average fell 0.56%, the S&P 500 index declined 0.11% and the tech-heavy Nasdaq advanced 0.35%.

Here are the key developments of Monday’s session that you need to know

As many as 3,325 stocks traded on the NSE on Monday. Out of this, 1,306 advanced and 1,929 declined, while 90 scrips remained unchanged.

This indicates that the market's breadth is favourable towards declines.

A total of 73 stocks hit their 52-week highs, while 21 stocks touched their one-year lows. Besides, 109 stocks hit their upper circuit limits, and 88 touched their lower circuit bands on Monday.

The market capitalisation of NSE-listed companies stood at ₹447.56 lakh crore by the end of the session.

The volatility index India VIX surged 8.75% to close at 20.50 levels.

The Nifty Midcap 100 index ended at 57,513.30 levels, slumping 0.57%, while the Nifty Smallcap 100 gauge settled 0.46% lower at 16,762 levels.

All the sectoral indices ended the session in the red on Monday, with Nifty Auto being the biggest laggard, falling 2.09%. Nifty Oil & Gas (-1.41%), Nifty FMCG (-1.29%), Nifty IT (-1.16%) and Nifty PSU Bank (-0.73%) were the other most losing sectors.

On Monday, 39 stocks declined on the NIFTY50 index, while 10 settled in green.

Eicher Motors was the most losing stock, tumbling 5.04%, followed by Maruti Suzuki (-4.62%), Bajaj Finance (-2.97%), Reliance Industries (-2.68%) and InterGlobe Aviation (-2.64%).

On the flip side, HDFC Life Insurance (2.71%), Adani Enterprises (2.08%), ICICI Bank (1.9%), NTPC (1.58%) and Tata Motors PV (0.88%) were top gainers on the 50-share index.