Sensex tanks over 2,700 points, Nifty slips 815 points to close below 16,250

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Photo source: PTI

The Sensex slipped more than 2,700 points, while the Nifty slipped 815 points to close below 16,250.

Highlights

  • The equity benchmark Sensex has plunged more than 2,700 points
  • The Nifty ended 815.30 points, or 4.78 percent, lower at 16,247.95
  • The BSE gauge plunged about 2,850 points during the session before closing at 54,529.91.

The equity benchmark Sensex plunged more than 2,700 points on Thursday as world markets rallied after Russia launched a military strike against Ukraine. The 30-share BSE gauge plunged nearly 2,850 points during the session before closing at 54,529.91, registering a huge fall of 2,702.15 points or 4.72 percent.

Similarly, the NSE Barometer Nifty declined by 815.30 points, or 4.78 per cent, to 16,247.95. It was also the seventh session of the fall for both indices. On the Sensex chart, all 30 stocks suffered heavy losses, with IndusInd Bank, M&M and Bajaj Finance losing as much as 8 percent.

Russia’s military launched a massive military strike on Ukraine on Thursday as Moscow lifted international sanctions and warned other countries that any attempt to intervene would lead to “consequences you have never seen.” Globally, stocks have fallen in the wake of the Ukraine crisis and oil prices have risen more than USD 5 per barrel, which experts believe could hurt the global economy.

Market benchmarks in Europe and Asia fell as much as 4 percent. For the first time since 2014, Brent crude rose above 100 100 a barrel in anticipation of a potential supply disruption from Russia. “Ukraine is under attack by Russian forces. The threat of tougher sanctions on Moscow is now at an all-time high, leading to a collapse of the global equity market.

“Sentiment is driving the market, which will lead to a big sell-off,” said Leonardo Pelandini, equity strategist and Julius Bear.

Also read | Gold prices hit a one-year high as Russia invaded Ukraine

Also read | Oil prices fell by 100 100 a barrel for the first time in eight years as Russia declared war on Ukraine

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