Stock market today: Gift Nifty hints a gap-down start; eight day trading stocks to buy on Monday, 13 July

Stock market news: Indian benchmark indices are likely to begin Monday's session on a weaker note, with the Sensex and Nifty 50 expected to track subdued global cues. Investor sentiment has turned cautious after a renewed escalation in the US-Iran conflict, fuelling concerns over a possible disruption to oil supplies through the Strait of Hormuz and sending crude oil prices sharply higher.

Across Asia, markets traded mixed, while US stock futures slipped as investors weighed the inflationary impact of rising energy prices and the possibility that central banks could keep interest rates higher for longer.

Despite the weak global backdrop, domestic equities ended Friday's session on a strong note, supported by broad-based buying across sectors.

The BSE Sensex surged 827.57 points, or 1.08%, to close at 77,569.39, while the NSE Nifty 50 climbed 244.10 points, or 1.02%, to settle at 24,206.90.

Tensions in the Middle East intensified after the US reportedly expanded its military strikes on Iran, according to Iranian state media. Eskan News' Telegram channel claimed the latest attacks targeted a broader range of locations across southern and western Iran than previous operations. Meanwhile, conflicting claims emerged over the Strait of Hormuz, with the US maintaining that the key shipping route remains open, while Iran said it had closed the waterway following the renewed strikes.

US Treasury yields moved higher as the surge in crude oil prices fuelled concerns that rising energy costs could keep inflation elevated and prompt the US Federal Reserve to maintain a tighter monetary policy. The two-year Treasury yield rose as much as 3 basis points to 4.24%, its highest level since February 2025, while the 10-year Treasury yield gained 2 basis points to 4.58%.

Crude oil prices rallied sharply after the latest exchange of military strikes between the US and Iran heightened fears of potential supply disruptions. Uncertainty over the operational status of the Strait of Hormuz, a critical global oil transit route, further supported prices. Brent crude surged 3.88% to $78.96 per barrel, while US West Texas Intermediate (WTI) crude climbed 4.01% to $74.27 per barrel.

Gold prices declined as higher oil prices and escalating geopolitical tensions increased expectations that central banks could keep interest rates elevated to contain inflation. Spot gold fell 1.2% to $4,072.78 per ounce, while US gold futures for August delivery slipped 0.8% to $4,081.70 per ounce. Spot silver also weakened, falling 1.6% to $58.89 per ounce.

The Gift Nifty Live Chart shows a positive start for the Indian stock market today. By 8:03 AM, the Gift Nifty was trading around the 24048.5 level, a discount of 193.4 points from the Nifty futures’ previous close of 24,241.90.

Ponmudi R, CEO of Enrich Money, said that Indian equity markets are expected to open on a cautious note as renewed geopolitical tensions following a fresh round of military strikes between the United States and Iran have reignited concerns over global energy supplies and heightened risk aversion across financial markets. The escalation has triggered a sharp rebound in crude oil prices, weighing on overall investor sentiment. Gift Nifty is currently trading around the 24,100 mark, below Friday's Nifty close of 24,206.90, indicating a gap-down start for domestic equities.

Crude oil prices have climbed into the $74–75 per barrel range after the latest US strikes on Iran revived fears of potential supply disruptions in the Middle East. Sustained strength in energy prices could keep inflationary pressures elevated, widen India's import bill, and remain a key headwind for the country's macroeconomic outlook.

Speaking on the outlook for the Nifty 50 today, Ajit Mishra, Senior Vice President, Research at Religare Broking, said the Nifty 50 has rebounded sharply after defending the 23,800 support zone and has once again reclaimed the 100 DEMA mark around 24150, indicating renewed buying interest...