33.1 C
New Delhi
April 17, 2024
News Bridge
National

Sensex Crashes Over 1,000 Points As Russia-Ukraine Crisis Worsens

NB BUREAU

The BSE benchmark Sensex tanked over 1,000 points and the NSE Nifty cracked below the key 17,000-level in opening deals on Tuesday, mirroring a rout in the global equity markets, reports PTI

The Sensex was trading 1,015 points or 1.76 per cent lower at 56,668.60, and the Nifty quoted 285.40 points or 1.66 per cent lower at 16,921.25 — extending their losses to the fifth session in a row.

All the 30 Sensex constituents were trading with significant losses.

“Escalations in Ukraine tensions with Russia recognising two pro-Russian rebel regions have aggravated the crisis. The economic consequences are already visible in higher crude and gold prices,” VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, was quoted by PTI

The biggest macro headwind for India is crude racing to USD 97 a barrel, he said, adding that the inflationary consequence of this will force the RBI to abandon its dovish monetary stance.

Continuing their selling spree, foreign institutional investors sold shares worth Rs 2,261.90 crore in the Indian capital market on Monday, exchange data showed.

Other Asian bourses on Tuesday followed the overnight Wall Street rout and massive selloffs in European equities triggered by the Russia-Ukraine standoff.

Tracking the Ukraine crisis, Brent crude futures rose 4 per cent to USD 97.35, the highest since September 2014. US stocks fell over 2 per cent on Tuesday.

(With PTI inputs)

Related posts

Lalu Prasad Yadav Gets Five-Year Jail Term In Fifth Fodder Scam Case

newsbridge

India’s ‘Nightingale’ Lata Mangeshkar Passes Away

newsbridge

World Population Day: Uttar Pradesh Unveils New Population Policy; Details Inside

newsbridge

Kashmir Talks Today: Who All Are Attending And What To Expect?

newsbridge

PM Modi Urges People To Follow COVID19 Protocol During Festive Season; Details Inside

newsbridge

Dilip Kumar, India’s Legendary Actor Passes Away At 98; Tributes Pour In

newsbridge

Leave a Comment