Indian shares nosedived on Monday, as risk sentiment dampened, global equities plummeted and the dollar strengthened, following a warning from the U.S. about an imminent invasion of Russia into Ukraine.
Risk aversion gripped investors as growing political risks in Ukraine added to broader worries around aggressive monetary policy tightening by the Federal Reserve.
A telephonic conversation between U.S. President Joe Biden and Russian President Vladimir Putin over the weekend failed to ease tensions, with Washington saying that there was “no fundamental change” to the worsening crisis.
Biden warned that the U.S. and its allies were prepared to respond “decisively and impose swift and severe costs” on Russia, if Putin launches an attack into Ukraine.
Russia said that the U.S. and NATO had failed to address its main security concerns, blaming the West of stoking hysteria over the Ukraine crisis.
German chancellor Olaf Scholz is traveling to Kyiv to find a diplomatic solution to the crisis. He will talk with Putin on Tuesday.
The S&P BSE Sensex crashed 1,747.08 points, or 3.0 percent, to finish at 56,405.84, with selling seen across the board.
The broader NSE Nifty index fell 531.95 points, or 3.06 percent, to settle at 16,842.80.
TCS bucked the weak trend to end about 1 percent higher after its board approved an 18,000-crore share buyback.
Market Analysis
TCS Bucked The Weak Trend To End About 1 Percent Higher
2022-02-14 11:08:28
