The GIFT Nifty, an early indicator for the benchmark Nifty 50, is down 0.79% at 24,043. Oil prices rose on Monday after the United States and Iran exchanged fresh strikes, reviving concerns over crude supplies through the Strait of Hormuz, a key shipping route that carries about one-fifth of the world’s oil. Brent crude futures rose 3.5% to $78.67 a barrel, moving towards $79, while U.S. West Texas Intermediate crude futures gained 3.4% to $73.87 a barrel.
GIFT Nifty points to gap-down opening for the domestic equity markets, Brent Crude rises near $79 a barrel- Daily Market Update 13th July 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled on a flat to positive note.
- European equity markets, barring DAX, ended in green.
- Majority of Asian equity markets are trading with a negative bias.
- GIFT Nifty is down by 180 points, Nifty futures is likely to open around 24050 levels.
Following a gap-up opening, the benchmark Nifty index traded sideways in a narrow range and settled above the 24,200 spot level after adding over 200 points to its previous closing values.
The Broader markets slightly outperformed the benchmark as Mid and Small cap indices rose around 1.5% each.
All sectoral indices, barring FMCG, settled in green. Among them, Realty and PSU bank index were at the top of the tally, gained over 3% each followed by IT, Chemicals, Metal, Oil & Gas, Cement and Private Bank index that rose 1% to 2%.
The Nifty index has been going through a “broadening” formation since June 15, 2026, indicating further consolidation in the 23,800–24,600 spot zone. A Doji-type weekly candlestick that overshadows the past three weeks’ candles is also an indication of indecisiveness among traders, pointing toward further consolidation at the current juncture. A break on either side of the 23,800–24,600 range will trigger the next short-term directional move; hence, we suggest that traders adopt a stock-specific trading approach for the time being.
Derivatives Overview & Outlook
Last Friday, Finnifty futures added 5.5% of open interest as long buildup along with short covering in Nifty & Banknifty futures that shed around 1% & 2.5% of open interest respectively. On the other hand, Midcapnifty futures was up over 1% without any significant change in open interest.
All F&O sectors, barring Telecom, settled higher. Amongst them, Finance, Pharma and Realty stocks witnessed maximum addition of long positions.
On options front, put writing along with some call unwinding was seen at multiple OTM strikes. Maximum positions are at 24500 CE followed by 24200 CE and 24000 PE closely followed by 24200 PE.
Institutional Trading Activity
Last week, FIIs bought stocks worth Rs 14777 Cr in the cash segment, bought stocks futures worth Rs 5595 Cr and sold index futures worth Rs 585 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 8276 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24100-24300; Supports 23800-23700
Banknifty – Resistances 58000-58600; Supports 57200-56800
Finnifty – Resistances 26800-26900; Supports 26400- 26300
F&O stocks in ban today: Kaynes
Important Results Today: ELECON, INDIANB, JUSTDIAL, LTF & MAHABANK
Disclosure
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