Stock Market Crash: Sensex Plunges 1,600 Points, Nifty Slips Below 23,600 as Soaring Oil Prices and Collapse of US-Iran Peace Talks Spook Investors

Mumbai, April 13: Domestic equity benchmarks traded sharply lower on Monday, declining around 2 per cent each amid weak global cues after the US and Iran failed to make progress on peace talks. Sensex plunged as much as 2.

16 per cent or 1,675 points to 75,874. 85, hitting an intraday low in early trade, while Nifty traded at 23,555, down around 500 points or 2. 05 per cent, amid selling pressure in banking and financial, realty, auto and energy stocks.

Eicher Motors, Maruti Suzuki, Shriram Finance, Bajaj Finance and HDFC Bank were among the top losers. All sectoral indices traded in the red.

Category-wise, small-cap indices dropped the most, with the Nifty Smallcap 100 trading 2 per cent lower and the Nifty Smallcap 250 down 2 per cent, following declines in midcap and large-cap scrips.

Moreover, the India VIX, the volatility index, was trading more than 13 per cent higher. Analysts said global sentiment has turned sharply risk-averse, following renewed escalation in geopolitical tensions.

According to them, this development is critical, as the Hormuz route carries a significant portion of global oil supply. Why Stock Market Is Down Today, April 13, 2026.

Crude oil prices, which had corrected from above $110 to the $94–100 range, have now surged back above $105, reintroducing inflationary and macroeconomic concerns. They further added that for India, the implications are immediate and significant.

With over 85 per cent of crude oil imports dependent on this route, rising oil prices could pressure the current account deficit, weaken the rupee, and elevate inflation expectations.