Price action: Tata Chemicals, Tata Investment, Waaree Energy rally; Jyoti CNC, Ola Electric, Eicher Motors slide

About this update from Tata Investment Corporation Limited

Indian equities opened weaker on April 13, with several stocks witnessing sharp moves on both sides even as the broader market remained range-bound amid rising global tensions and a spike in crude oil prices.Benchmark indices came under pressure, with most Sensex and Nifty stocks trading in the red. In the auto pack, Eicher Motors and Maruti Suzuki India were the biggest losers, falling more than 4 percent each. InterGlobe Aviation declined 3 percent, while Shriram Finance and State Bank of India lost more than 2 percent each.Midcap and smallcap stocks, however, continued to see selective buying interest. Among midcaps, Tata Investment Corporation rose 4 percent, while Waaree Energies gained 3 percent. JSW Energy and Premier Energies advanced 2 percent each.In the smallcap space, Tata Chemicals jumped 7 percent, while Ather Energy gained 4 percent.On the downside, among midcaps, Bank of India and Polycab India were the biggest losers, down 3.5 percent each. Mahindra and Mahindra Financial Services and APL Apollo Tubes lost 3.2 percent each, while Ashok Leyland and Hindustan Petroleum Corporation declined 3 percent each.Among smallcaps, Jyoti CNC Automation plunged 13 percent, while Ola Electric Mobility fell 6 percent. Signatureglobal India and Afcons Infrastructure slipped 3 percent each.Sectorally, PSU banks and auto stocks were the biggest laggards, declining 2 percent each. IT, FMCG and realty indices also fell 1.5 percent each. Market breadth remained weak, with 1,298 stocks advancing against 2,628 declines on the BSE, pointing to selective buying.Indian markets tracked weakness in global equities after President Donald Trump ordered a blockade of the Strait of Hormuz, escalating tensions with Iran after weekend peace talks collapsed.Global sentiment remained fragile amid fears of an energy supply shock. Oil prices surged 7 percent to $107 per barrel after Trump said the US would interdict any vessel that had paid a toll to Iran for safe passage through Hormuz. Before the conflict, nearly one-fifth of the world’s crude oil and liquefied natural gas trade passed through the strait.

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