Mumbai: Stock markets fell sharply on Monday amid rising tensions in Russia-Ukraine and the Sensex fell over 1,700 points. On the other hand, Nifty also fell below the level of 17,000 mark with a heavy fall. The BSE 30-share Sensex fell 1,747.08 points, or three percent, to 56,405.84. Similarly, the Nifty of the National Stock Exchange lost 531.95 points, or 3.06 percent, to close below the 17,000 mark at 16,842.80.
In the Sensex companies, except Tata Consultancy Services (TCS), the shares of all other companies fell. Shares of Tata Steel, HDFC, and SBI lost over four percent. Other Asian markets also fell heavily. There are reports that Russia may soon attack Ukraine, which will cause crude oil prices to reach high. Analysts said domestic markets also opened lower amid a negative trend in Asian markets.
Deepak Jasani, Head of Retail Research, HDFC Securities said, “The US markets closed with a fall on Friday. Russia is expected to attack Ukraine soon. This will lead to a jump in crude oil prices.” Apart from this, the fall in consumer sentiment and the possibility of a rise in inflation in the near future also affected investors, he said. Globally, Brent crude oil futures rose nearly one percent to $95.44 a barrel. Foreign institutional investors bought shares worth Rs 108.53 crore on Friday, according to provisional data from stock exchanges.
