The conflict has reached a critical stage, characterized by preemptive attacks, retaliatory threats, and mounting international concern.
Israel confirmed that it has initiated a military operation targeting key nuclear and military installations throughout Iran. The strikes, which spanned several locations, focused on Iran’s Natanz nuclear facility as a primary target.
Israeli Prime Minister Benjamin Netanyahu has stated that the operation will persist for as long as necessary.
This marks an inauspicious Friday, the 13th, for Indian markets as well. However, has the superstition been playing out the same way for the markets each time?
Well, history says— no!
Let’s take a closer look at how Friday the 13th, often considered an unlucky day in Western culture, has actually performed on Dalal Street.
Market data shows that this superstition doesn’t hold much weight in the Indian stock market. Over 42 trading sessions that fell on a Friday the 13th, the Nifty closed lower in only 46% of those days (19 sessions).
In fact, the average gain across these 42 sessions is 0.35%, suggesting that Friday the 13th may not be as unlucky for the market as commonly believed.
Since 2000, the worst Friday the 13th was in October 2000, when the Nifty fell by 2.45%. On the flip side, March 13, 2020 — also a Friday the 13th — saw the market roar back with a 3.81% rally, sending the bears packing.
Also read: Why stock market is falling today? 4 key factors behind Sensex’s 1,100-point crash, Nifty below 24,650
The most recent Friday the 13th fell in December 2024, when, after touching a low of 24,181, Nifty’s sharp recovery trapped the bears. The day eventually ended with the index closing at 24768.40, with a gain of 0.9%.
“On this ominous Friday the 13th, markets are gripped by caution as bearish signals intensify—despite the RBI’s jumbo rate cut, banking stocks remain weak, and FIIs have sold Rs. 3,549 crore so far this June, contributing to continued volatility,” said Prashanth Tapse, Senior VP (Research) at Mehta Equities, while commenting on today’s fall.
Geopolitical risks are also in play, with Trump threatening 55% tariffs on China, which downplays the US deal, while WTI crude nears $72 per barrel amid US-Iran tensions.
“Nifty’s sharp sell-off signals that bears are in control, with the 25,222 level remaining a major hurdle,” Tase added.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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