Chaos in global markets amid tensions between Ukraine and Russia, Sensex plunges 1,750 points

Business

oi-Sunil Fernandes

|

It was a sea of ​​red in global markets as concerns over Russia’s invasion of Ukraine set off alarm bells in global markets. Asian markets fell sharply, while European markets were deep in the red. The Sensex ended the day down 1,750 points, while the Nifty plunged 532 points in trading.

Across Europe, the percentage point decline was even worse on fears that the Russian invasion of Ukraine could impact the whole world as oil prices could rise. In fact, investors were still concerned that rising oil prices would fuel inflation and ultimately reduce global growth. The German DAX was down more than 3.66, while the French CAC was down 3.43%. The Japanese Nikkei ended the day with declines of over 2%.

“Indian markets opened in the red following global indices as investors watch for heightened geopolitical risks in Eastern Europe amid the Ukraine crisis. economic recovery,” said Narendra Solanki, Head of Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers.

Leading the losers were heavy stocks like ICICI Bank and HDFC. In fact, both stocks plunged as much as 5% each, something we don’t often see in stocks like ICICI Bank and HDFC.
Stocks in the metal space were the hardest hit, with JSW Steel and Tata Steel among the big losers. The only stock that came out of the Nifty space was TCS.

In the broader markets, stocks like Metropolis Heathcare, HLE Glascoat, Jain Irrigation, Thyrocare Technologies, Ramco Systems and TV18 Broadcast posted big losses.

Chaos in global markets over tensions between Ukraine and Russia, Sensex plunges 1750 points

Analysts advise caution as there could be further downside risks in the market. If the risk event, the Russian invasion of Ukraine occurs, it could lead to a spike in crude prices, which is not good for India. Crude oil prices have now reached a new recent high of $94 a barrel.

Comments are closed.