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Sensex sheds 1,049 points, Nifty drops below 23,100

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The Indian stock market faced another day of sharp declines on January 13, as bearish sentiments tightened their grip for the fourth consecutive session. Weak global cues, a surge in crude oil prices to a three-month high, and reduced expectations of a U.S. rate cut in 2025 contributed to the downward spiral.

At the close of trading, the Sensex plunged 1,048.90 points or 1.36% to settle at 76,330.01. The Nifty also fell significantly, shedding 345.55 points or 1.47% to close at 23,085.95.

Sectoral impact

All sectoral indices ended the session in the red. The realty index was the worst hit, slumping by 6.7%. Other sectors, including oil & gas, power, PSU, metal, and media, recorded losses in the range of 3-4%.

This broad-based sell-off saw investors’ wealth take a major hit. The market capitalization of BSE-listed companies dropped sharply by Rs 12.39 lakh crore, falling to Rs 417.28 lakh crore from Rs 429.67 lakh crore in the previous session.

Key drivers of the decline

Crude oil prices: Crude oil surged to a three-month high, stoking fears of inflationary pressures and higher input costs across industries.

Global market trends: Weak global markets added to investor apprehensions, as global indices reflected a cautious outlook amid economic uncertainties.

Interest rate concerns: Revised expectations that the U.S. Federal Reserve may delay rate cuts in 2025 also weighed on investor sentiment.

Outlook

Market experts suggest that volatility may persist in the near term as global and domestic factors continue to influence investor behavior. A focus on corporate earnings reports and international economic trends will be critical in shaping market movements in the weeks ahead.

With a significant erosion in investor wealth, market participants remain cautious as they navigate the ongoing uncertainties.

India News

Delhi records coolest day of June so far as rain and thunderstorms bring relief from heat

Delhi recorded its coolest day of June after rain and thunderstorms caused a sharp drop in temperatures. IMD has forecast more showers and gusty winds before temperatures begin rising again.

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Delhi weather today

Delhi witnessed its coolest day of June so far after widespread rain and thunderstorm activity caused temperatures to drop significantly across the national capital. The change in weather provided much-needed relief from the intense summer heat that had gripped the region in recent weeks.

According to the India Meteorological Department (IMD), rain and thunderstorms over the past 24 hours brought a noticeable decline in both maximum and minimum temperatures. Official weather observations showed that Delhi’s maximum temperatures fell well below normal levels, while several areas experienced strong winds and rainfall.

More rain and thunderstorms likely

The IMD has forecast additional thunderstorms, light to moderate rain and gusty winds for Delhi and nearby areas through Saturday. A yellow alert remains in place, with weather conditions expected to stay unsettled before gradually improving.

Weather experts have attributed the recent change to the influence of a western disturbance and associated weather systems affecting northwestern India. While the disturbance is gradually moving away, its impact is expected to continue for a short period.

Temperatures may rise again next week

Meteorologists expect the pleasant conditions to last for another couple of days. After that, temperatures are likely to begin rising again as rainfall activity decreases. The IMD’s latest forecast also indicates a gradual increase in temperatures by the middle of next week.

Recent weather systems have brought relief not only to Delhi but also to parts of Uttar Pradesh, Rajasthan and other northern states, where thunderstorms and rain have helped ease heatwave conditions.

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Rajnath Singh says Indus waters will not flow to terror patrons as India maintains tough stance on Pakistan

Rajnath Singh said India would not allow Indus river waters to benefit countries that support terrorism, reinforcing New Delhi’s position on the future of the Indus Waters Treaty.

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Rajnath Singh

Defence Minister Rajnath Singh on Friday delivered a strong message to Pakistan, stating that India would not allow the waters of the Indus river system to benefit countries that support terrorism.

Addressing an event, Singh said the Narendra Modi-led government remains committed to protecting India’s interests and would ensure that water resources are not used in a manner that benefits what he described as “terror patrons.” His remarks come amid continuing tensions between India and Pakistan over the future of the Indus Waters Treaty (IWT).

The statement reflects India’s broader position that the treaty will remain in abeyance until Pakistan takes credible and irreversible steps to end support for cross-border terrorism. Officials have repeatedly maintained that terrorism and normal bilateral cooperation cannot go hand in hand.

India’s position on the Indus Waters Treaty

The Indus Waters Treaty, signed in 1960 with World Bank mediation, governs the sharing of waters from the Indus river system between India and Pakistan. For decades, it has been regarded as one of the most enduring agreements between the two neighbours.

However, India placed the treaty in abeyance after the April 2025 terror attack in Pahalgam, citing national security concerns and Pakistan’s alleged support for cross-border terrorism. Since then, Indian officials have consistently argued that Pakistan’s actions violate the spirit of goodwill and cooperation on which the agreement was based.

Government signals tougher approach on water sharing

Recent statements from senior ministers have indicated that New Delhi is exploring ways to maximise the use of water available to India under the Indus river system. Union Jal Shakti Minister C.R. Patil recently said the government is working to ensure that not a single drop of water that India can utilise goes to Pakistan in the coming years.

Rajnath Singh’s latest remarks add to that messaging, reinforcing the government’s view that issues related to water sharing cannot be separated from concerns about terrorism and national security.

Pakistan’s response and ongoing dispute

Pakistan has opposed India’s decision to keep the treaty in abeyance and has continued to raise concerns about water security and treaty obligations. The issue has also featured in international legal and diplomatic discussions, with India rejecting certain arbitration-related proceedings concerning the treaty.

The dispute remains a significant point of friction between the two countries, with both sides maintaining firm positions on the future of the water-sharing agreement.

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Vijay meets PM Modi for second time as Tamil Nadu Chief Minister during Delhi visit

Tamil Nadu Chief Minister Vijay met Prime Minister Narendra Modi in New Delhi during his latest visit to the capital, marking their second interaction since Vijay became Chief Minister.

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Actor vijay

Tamil Nadu Chief Minister C. Joseph Vijay met Prime Minister Narendra Modi in New Delhi on Thursday, marking their second meeting since Vijay assumed office last month.

The meeting took place during Vijay’s visit to the national capital, where he has also been scheduled to attend the Governing Council meeting of NITI Aayog. Reports indicate that the interaction between the two leaders lasted around 20 minutes.

This follows Vijay’s first official meeting with the Prime Minister on May 27, shortly after taking charge as Tamil Nadu Chief Minister. During that meeting, Vijay submitted a memorandum on several issues concerning the state, including the Mekedatu dam project, Tamil Nadu fishermen detained in Sri Lanka, and other matters related to the state’s interests.

Vijay’s latest Delhi visit has included meetings with several national leaders as he continues engagements with the Centre and leaders from different political parties. Reports said he also met senior Congress leaders during the trip.

The Tamil Nadu Chief Minister took office on May 10 after his party, Tamilaga Vettri Kazhagam (TVK), emerged as a key force in the 2026 Assembly elections and formed the government with support from alliance partners.

While details of the latest discussion between Vijay and the Prime Minister were not immediately disclosed, the meeting is being viewed as part of ongoing Centre-state consultations on issues concerning Tamil Nadu.

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