Crude oil prices fell sharply after the Strait of Hormuz reopened, removing a key supply-chain bottleneck that had supported elevated energy prices. The Strait of Hormuz is the world's most critical oil transit chokepoint, carrying roughly 20% of global petroleum flows, making any disruption or resolution there a direct price mover for Brent and WTI benchmarks. When the strait is open and transit normalizes, traders reprice the geopolitical risk premium out of futures contracts, pushing spot and forward prices lower. Downstream, the drop feeds through to refinery input costs, fuel prices, and inflation metrics that central banks monitor closely. Energy-exposed equities, freight rates for tankers, and oil-linked sovereign revenues in the Gulf will all feel pressure from a sustained reopening. The key variable to watch is whether the reopening holds: any renewed closure or military escalation in the region would rapidly reverse the selloff and re-inject risk premium into global energy markets.
Sensex and Nifty slipped at the open on July 13, 2026, after reports of Iranian strikes hurt global risk sentiment. IT stocks bucked the trend, benefiting from their dollar-revenue hedge amid the broader selloff.
SK Hynix raised $26.5 billion in its Wall Street debut on Friday, opening at $170 per share and breaking Alibaba's record as the largest US listing by a foreign company. The AI-driven surge in demand for high-bandwidth memory, used in Nvidia's GPUs, has pushed SK Hynix to a $1 trillion valuation.
SBI Funds Management priced its IPO at ₹545 to ₹574 per share, a significant discount to its unlisted grey market value. Investors who bought shares in the pre-IPO market may face mark-to-market losses when the issue opens on July 14, 2026.
Newgen Software Technologies shares jumped over 11% to Rs 523.30 as Indian IT stocks rallied following TCS Q1 results that signalled demand stabilisation. The gain was sentiment-driven, with no Newgen-specific earnings update accompanying the move.
