Mumbai: The BSE Sensex fell over 2,700 points on Thursday amid heavy selling in global markets following Russia’s military attack on Ukraine. The 30-share Sensex had gone down by about 2,850 points at one point of time during trading.
It finally closed at 54,529.91 with a dive of 2,702.15 points, or 4.72 percent. Similarly, the Nifty of the National Stock Exchange closed at 16,247.95, down 815.30 points, or 4.78 percent. This is the seventh consecutive trading session when both the benchmark indices – BSE Sensex and Nifty … remained in losses.
All the 30 stocks of Sensex were in heavy losses. IndusInd Bank, Mahindra & Mahindra, and Bajaj Finance fell up to eight percent. Russian troops attacked Ukraine on Thursday. Ignoring international condemnation of the attack and sanctions, Russian President Vladimir Putin warned other countries that any attempt to interfere with the action would have “results they have never seen before.”
Global stock markets fell as the Ukraine crisis escalated and crude oil prices rose by $5 a barrel. Experts believe that this crisis will have an adverse effect on the global economy.
Major markets in Europe and Asia fell up to four percent. Global oil benchmark Brent crude rose above $100 a barrel for the first time since 2014 due to supply constraints from Russia.
Leonardo Pelandini, the equity strategist for Julius Baer, said: “Ukraine is under attack by Russian forces. The threat of severe sanctions on Moscow is now at its highest. This has led to a fall in the stock markets globally. There was a massive sell-off due to the market sentiment being affected…” According to domestic stock market data, foreign institutional investors have remained sellers and sold shares worth Rs 3,417.16 crore on Wednesday.
