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Sensex, Nifty Bleed As Russia Announces Military Operations In Eastern Ukraine
As of 9:55 AM, Sensex was trading at 55,285, over 1,900 points lower than the previous day. Nifty was below 16,500.
New Delhi: Indian share market fell over 1,900 points in early trade as Russian President Vladimir Putin announced ‘military operations’ in Ukraine. As of 9:55 AM, Sensex was trading at 55,285, over 1,900 points lower than the previous day. Nifty, on the other hand, cracked over 500 points and was trading at 16,460.
Brent Crude touched a peak of $100 per barrel for the first time in eight years. The crude oil prices have surged from $70 per barrel to $100 per barrel in a matter of a few weeks, mainly due to supply-side constraints. The Black Sea plays a major role in exporting oil to the world as Russia is the third-largest exporter of the commodity. With the region in crisis, experts had suggested in advance that the prices might cross $100 per barrel soon, it has become a reality now.
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All the shares in Sensex today were trading in the red with Tech Mahindra, Bharti Airtel, SBI and Tata Steel taking the worst hit. All these shares were trading 3 per cent in the red. In Nifty50 too, all the 50 shares were in the red. Tata Motors, Bharti Airtel and Tata Steel were the top losers.
Also, in the latest announcement by Putin, the Russian President warned other countries that any attempt to interfere with the Russian action would lead to “consequences they have never seen.”
He also added that the Russian military operation aims to ensure a “demilitarization” of Ukraine. Those who lay down their arms, according to Putin, will be allowed to leave the combat zone safely.
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