Market Performance: Top Gainers and Losers on April 13

Indian Stock Market Plunges Amid Crude Price Spike and US-Iran Tensions

The Indian stock market reversed its recent gains on Monday, April 13, as rising crude prices and the collapse of US-Iran peace talks dampened sentiment in the region. The Nifty 50 ended the session with a nearly 1% drop, settling at 23,842, while the S&P BSE Sensex wrapped up trade at 76,788, down 1% from Friday's close.

The broader markets also mirrored the weak trend, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices ending the session with losses of over 0.46%. Despite the sharp losses, the benchmark indices recovered about half of their opening declines, indicating that they are finding support at lower levels. At one point, both the Nifty 50 and Sensex had slumped as much as 2%.

The collapse of the US-Iran peace talks triggered a spike in crude oil prices, with Brent surging 10% to cross the $100 mark for the first time in three sessions. US President Donald Trump announced that the US would start "blockading any ships trying to enter or leave the Strait of Hormuz," further exacerbating tensions in the region.

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Market Volatility Expected to Continue

Until there is visible de-escalation and greater stability in energy flows through the Strait of Hormuz, markets are likely to remain volatile and driven by headlines. With the U.S. blockade now in effect, near-term direction will be closely tied to developments in the Gulf region and their implications for global assets and energy prices.

Key Losers and Gainers

Jyoti CNC Automation emerged as the top laggard among Nifty 500 stocks, plunging 14.7% to ₹699 apiece after French authorities initiated a probe into its subsidiary. OLA Electric shares came under profit booking, falling 6.4% to ₹38.27 apiece and snapping a seven-day winning streak.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

On the other hand, OneSource Specialty Pharma led the list of gainers, with the stock surging 7.4% to ₹1,545 apiece. NTPC Green Energy and Tata Investment Corporation also posted similar gains of over 7%.

Other gainers included Thermax, ACME Solar Holdings, Zydus Wellness, Ather Energy, Welspun Corp, Sarda Energy & Minerals, JSW Energy, and Tata Chemicals, which closed with gains of over 4%.