The Nifty 50 and Sensex both off their intraday lows but still closing with significant losses
Satish Chandra Aluri,
Lemonn Markets Desk
Mumbai, June 13, 2025: Indian equity markets endured a sharp selloff on Friday, June 13, with the Nifty 50 and Sensex both off their intraday lows but still closing with significant losses. The market faced pressure from geopolitical tensions in the Middle East, surging crude oil prices, and broad-based sectoral weakness. Broader Mid and Small caps also extended losses but fared relatively better.
Crude oil prices soared above $73 per barrel, raising concerns about inflation, import bills, and corporate margins. Oil marketing companies and auto stocks were under pressure due to higher crude prices and weak sentiment. Except media, realty, all other sectoral indices ended in the red with FMCG, PSU Bank, oil & gas, power leading losses.
Any further escalation in the global flashpoints will remain a key risk. Geopolitical developments and oil price trends will be key drivers in the near term.
Technically, Nifty closed below the 24800-level indicating cautious outlook and immediate support is placed around the 24600-24700 zone. On the upside, 24800 acts as immediate resistance
