Sensex above 2,700 points, Nifty slipped 815 points to close below 16,250.
Highlight
- Equity benchmark Sensex loses over 2,700 points
- Nifty closed at 16,247.95, down 815.30 points or 4.78 per cent
- The BSE gauge fell nearly 2,850 points during the session before closing at 54,529.91
Equity benchmark Sensex tumbled over 2,700 points on Thursday following heavy selling in global markets after Russia launched a military offensive against Ukraine. The 30-share BSE gauge closed nearly 2,850 points lower at 54,529.91 during the session, registering a steep fall of 2,702.15 points or 4.72 per cent.
Similarly, the NSE barometer Nifty closed 815.30 points or 4.78 per cent lower at 16,247.95. This was the seventh consecutive session of decline in both the indices. On the Sensex chart, all 30 stocks were heavily hit with IndusInd Bank, Mahindra & Mahindra and Bajaj Finance falling up to 8 per cent.
“If you are still holding fundamentally weak stocks that only went up on hope, it still may not be a bad time to get rid of them. However, those investing in quality stocks should be looking for a long-term India The growth story of the company remains intact,” said Rahul Shah, co-head of research at Equitymaster.
Russian troops launched widespread military strikes on Ukraine after Moscow lifted international sanctions and warned other countries that any attempt to intervene would have “results you’ve never seen”.
Globally, stocks plunged globally and oil prices rose by over USD 5 a barrel amid an intensification of the Ukraine crisis, which experts believe could hit the global economy. Is.
Market benchmarks in Europe and Asia fell up to 4 per cent. Brent crude rose above $100 a barrel for the first time since 2014 on concerns about a possible supply disruption from Russia. “Ukraine is under attack by Russian forces. The threat of severe sanctions on Moscow is now at its highest, causing a collapse in equity markets globally.
Sentiment is driving the market direction, which will lead to huge sell-offs,” said Leonardo Pellandini, Equity Strategy, Julius Baer. Continuing their selling spree, foreign institutional investors on Wednesday bought shares worth Rs 3,417.16 crore in the Indian capital market. Unloaded the exchange data shown.
Read also | Russia invades Ukraine, gold price reaches highest level in a year
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