Tale of the Tape 

Happy Friday guys. You’ve earned this one!

Markets slumped following a rise in Middle East tensions, with Nifty and Sensex down -0.7% each. PS - this is their worst week in a month! Midcaps (-0.4%) and Smallcaps (-0.5%) saw slightly smaller cuts. The advance-decline was in favour of the bears (4:1).

All sectors ended in the red or flat. PSU Banks (-1.2%) and FMCG (-1.1%) saw the most selling pressure.

Israel has targeted Iran’s nuclear program in a HUGE attack. Read our top story to get the deets and the spillover effect on India.

Is the microfinance sector’s crisis slowly getting resolved? More details below.

Adani Ports (-3%) was the top Nifty loser amid reports that Iran plans to attack the Adani-operated Haifa port in Israel.

Shipping stocks soared over expectations of a spiralling Middle East conflict. PS - analysts say shipping rates will skyrocket. Shipping Corporation of India (+11%) saw the most gains.

Gensol Engineering was locked in a lower circuit after the NCLT admitted IREDA’s insolvency petition.

Jubilant Ingrevia (+15%) was the top NSE 500 gainer after 98.6 lakh shares changed hands in a block deal; the promoters were likely sellers. PS - owners also likely sold shares in Jubilant Pharmova and Jubilant Foodworks too.

Market
Israel-Iran Conflict Sinks Markets

Global markets took a beating after the Middle East went up in flames again! ICYMI - Israel launched strikes into Iran, looking to cripple its nuclear programme and take down its military leadership. India’s VIX, aka the fear gauge, jumped +9% which is the last thing we need right now…

Why it matters: Experts say the latest attacks are unprecedented. Top military commanders have been killed. And reports say Iranian nuclear scientists have been assassinated and nuclear reactors damaged. This could lead to wider regional conflict, with drone retaliation from Iran already being reported.

Go deeper: Oil prices are the first serious consequence. Brent crude jumped past the $75 per barrel mark, their highest level since January. This is awful news for India which was hoping that low oil prices would help it through its GDP slowdown. PS - India’s chief economic adviser just stated last month that falling oil prices was one of the key factors helping their growth projection for FY26. With this gone, things look more shaky.

OMC stocks naturally took a hit as refiners benefited big time with low oil prices. Beyond that, keep an eye out on oil-sensitive sectors. Crude is a key raw material for industries like aviation, paints and tyres -- all of which were hit by the sell-off today.

Big Picture: We thought geopolitical uncertainty was calming down just a few weeks ago. But it’s back on the menu and even though India isn’t directly involved, it makes things difficult. The last thing we need is the US getting involved in the Middle East and ignoring China again.

Specials
Best Stocks To Buy Now

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