Stock markets tumble in early trade on weak Asian peers; sharp surge in Brent crude oil prices-OxBig News Network

Foreign Institutional Investors offloaded equities worth ₹3,831.42 crore on June 12, 2025, according to exchange data. File
| Photo Credit: PTI

Equity benchmark indices Sensex and Nifty tumbled in early trade on Friday (June 13, 2025) in tandem with weak Asian markets amid a sharp spike in Brent crude oil prices after Israel attacked Iran’s capital.

The 30-share BSE Sensex tanked 1,337.39 points or 1.63% to 80,354.59 in early trade. The 50-share NSE Nifty dropped 415.2 points or 1.66% to 24,473.

All the 30-Sensex firms were trading lower during the early trade. Kotak Mahindra Bank, Power Grid, Adani Ports, Tata Motors, UltraTech Cement and Asian Paints were the major laggards.

Global oil benchmark Brent crude jumped 9.33% to $75.83 a barrel.

“Close on the heels of the Ahmedabad air tragedy has come the news of Israel’s attack on Iran. The economic consequences of this Israeli strike can be profound if the attack and counterattack by Iran linger long. Brent crude prices have flared up by around 12% to $78. The impact on the market will depend on how long the conflict lingers. In the near term, the market will be in a risk-off mode,” V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng were trading lower.

U.S. markets ended in the positive territory on Thursday (June 12, 2025).

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,831.42 crore on Thursday (June 12, 2025), according to exchange data.

“The Nifty fell over a% yesterday, as geopolitical tensions in the Middle East showed signs of erupting. As of this morning, Israel has launched pre-emptive strikes on Iran and that’s led to a broad-based risk-off across markets,” Akshay Chinchalkar, Head of Research, Axis Securities, said.

Meanwhile, a London-bound Air India plane carrying 242 passengers and crew crashed in Ahmedabad minutes after taking off from the airport on Thursday (June 12, 2025) afternoon.

Air India has confirmed the death of 241 people in the plane crash. One passenger miraculously escaped.

On Thursday (June 12, 2025), the 30-share BSE Sensex dropped 823.16 points or 1% to settle at 81,691.98. The Nifty tumbled 253.20 points or 1.01% to 24,888.20.