Indian Equities Fall as Crude Prices, Inflation Concerns Weigh on Sentiment

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

India Stocks fall

By Dehuti Jani

November 13, 2026 at 12:29 PM IST

Indian benchmark equity indices declined on Friday, trimming weekly gains, as elevated crude oil prices and inflationary pressures weighed on sentiment, offsetting support from sustained foreign portfolio inflows. The Nifty50 fell 155.05 points, or 0.61%, to 25,144.30, while the Sensex lost 318.56 points, or 0.39%, to 81,592.45.

Financial stocks, banks and private banks fell 0.7%-0.8%, with HDFC Bank declining 1.5%. Shriram Finance, Tata Motors Passenger Vehicles and Grasim Industries were the biggest Nifty 50 losers. Realty, auto and cement stocks led sectoral declines, while media stocks outperformed the market. The Nifty MidCap 100 and SmallCap 100 fell 0.24% and 0.26%, respectively.

Global markets remained volatile through the week amid concerns over technology stocks and shifting US political equations. Brent crude oil rose to around $95.7 per barrel from $92 on Thursday, as attacks on Saudi energy infrastructure escalated and disruptions through the Strait of Hormuz threatened oil flows.

The rupee weakened 0.2% to 94.24 per US dollar on Friday, taking its weekly decline to 0.3%, as higher oil prices and expectations of a more hawkish Federal Reserve offset support from foreign inflows. Indian government bond yields rose, with the benchmark 6.94%, 2036 bond yield at 7.3079%, compared with 7.2467% on Thursday. Trading volumes remained thin as investors avoided fresh positions amid volatile global cues.

Top Movers of the Day

Eicher Motors advanced 1.34% to close at ₹7,650, leading the Nifty 50 gainers ahead of its scheduled board review of quarterly earnings. Investors aggressively built long positions anticipating positive management commentary on Royal Enfield demand and resilient operating margins.

Hindustan Unilever gained 0.96% to settle at ₹1,992.90 after recovering from the previous day’s sharp decline as investors chose value buying. Portfolio managers shifted capital toward reliable domestic staples amid an otherwise weak broader market weighed down by rising inflation data.

Asian Paints rose 0.53% to end at ₹2,550, finding steady support as market participants sought safety in large-cap defensive counters. Moderating input cost concerns and consistent institutional accumulation helped the paint manufacturer comfortably buck the negative market trend.

Bharti Airtel climbed 0.48% to close at ₹2,106, acting as a crucial defensive pillar for the struggling benchmark indices. Continued optimism around steady subscriber additions and robust operating metrics drew consistent inflows from domestic funds.

ONGC added 0.22% to settle at ₹225, emerging as a safe haven play during a session dominated by heavy selling pressure. Firm domestic energy demand and broader defensive sector rotation kept the state-run energy explorer buoyant throughout the day.

Shriram Finance plunged 3.37% to close at ₹970, suffering the steepest percentage decline on the Nifty 50 index. Cautious sentiment regarding consumer borrowing costs and rising retail inflation prompted a massive wave of institutional unwinding in the non-banking financial lender.

Tata Motors Passenger Vehicles dropped 3.31% to end at ₹290.80 as investors rapidly recalibrated their exposure to rate-sensitive sectors. Weak broader auto sales expectations and renewed inflation fears heavily weighed on near-term vehicle demand sentiment.

Grasim Industries fell 2.60% to settle at ₹3,034, facing severe selling pressure across its core building materials businesses. Rising wholesale inflation and a cautious macroeconomic outlook sparked a broad-based exit from industrial and cement-linked counters.

Mahindra & Mahindra declined 1.94% to close at ₹3,333 as the broader Nifty Auto index succumbed to sector-wide weakness. Elevated crude oil prices and newly released domestic inflation data sharply dampened investor enthusiasm for rate-sensitive automobile manufacturers.

Hindalco Industries slipped 2.12% to end at ₹943.60, falling in tandem with the widespread correction across the metal space. A strengthening US dollar and a cautious outlook on global industrial demand prompted market participants to significantly trim their base metal holdings.

Futures & Options
The Nifty November 2026 futures contract closed at 25,175, a premium of 30.70 points over the Nifty 50's cash market close of 25,144.30. The benchmark index fell 155.05 points, or 0.61%, while the NSE's India VIX declined 5.06% to 15.78.

Reliance Industries, HDFC Bank and PB Fintech were the most traded individual stock futures contracts on the NSE. November 2026 F&O contracts will expire on November 23.

Bonds
The benchmark 6.94%, 2036 government bond yield ended higher on Friday, closing at 7.3079%, compared with 7.2467% on Thursday. The Reserve Bank of India set the cut-off yield on the 10-year bond at 7.3203%, in line with market expectations.

Traders covered short positions in the bond after the auction, while some investors added it to their held-to-maturity portfolios. Trading volumes remained thin as investors were cautious about taking fresh positions amid volatile global cues.

Forex
The Indian rupee weakened 0.2% to close at 94.24 per US dollar on Friday, taking its weekly decline to 0.3% as rising oil prices and expectations of a hawkish Federal Reserve offset support from improving foreign portfolio inflows. The currency had climbed to an over six-month high earlier in the week on the back of stronger overseas investment.

Foreign investors have bought more than $8 billion of Indian stocks in November so far, alongside another $800 million in local debt. Market participants are also watching for signs of Reserve Bank of India’s dollar-buying intervention to replenish the country's foreign exchange reserves.

Crypto
The cryptocurrency market traded slightly lower on Friday, with total market capitalisation slipping to around $2.44 trillion as cautious investor sentiment weighed on digital assets. Bitcoin hovered near $73,400, while Ethereum traded between $2,045 and $2,054, testing psychological support around $2,000.

Hotter-than-expected US inflation and a stronger dollar have dampened expectations of near-term Federal Reserve rate cuts. Persistent net outflows from US spot crypto exchange-traded funds have added to the pressure on the market.

US Stock Futures
US stock futures traded fell early Friday after major equity indices declined in the previous session and Nvidia shares came under pressure following the reported departure of founder and chief executive Jensen Huang. Dow Jones futures slipped 0.09%, S&P 500 futures fell 0.14% and Nasdaq-100 futures declined 0.36%.

Nvidia's chief financial officer Colette Kress is set to lead the chipmaker as interim CEO. The developments added to pressure on technology stocks, with investors assessing the implications for the company's leadership and operations.

US Treasury Notes
US Treasury yields edged higher at the longer end of the curve on Friday, with the 10-year yield holding near 5.12%-5.13%, its highest level in three weeks. The 30-year yield climbed to around 5.45%, while the two-year yield stabilised near 4.85% after Thursday's sharp rise. Markets continued to price in a Federal Reserve rate increase in December following hotter-than-expected October consumer inflation data.

Hawkish comments from Fed officials, including suggestions that a larger 50-basis-point increase may be needed to contain inflation, added to upward pressure on yields. Investors were also monitoring geopolitical tensions and their impact on oil prices, along with upcoming October producer inflation data.

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Indian Equities Fall as Crude Prices, Inflation Concerns Weigh on Sentiment