Indian shares were deep in the red on Thursday, mirroring weak global markets amid growing concerns surrounding the deteriorating Ukraine crisis.
Russian President Vladimir Putin officially announced a military operation in Ukraine Thursday in a televised address early Thursday in Moscow.
Putin claimed the action was in response to Ukrainian threats and stated it was to “demilitarize” the country. He said countries that attempted to interfere would be dealt “consequences they have never seen.”
The benchmark 30-share BSE Sensex plummeted 1,668 points, or 2.9 percent, to 55,563, with selling seen across the board. The broader NSE Nifty index was down 512 points, or 3 percent, at 16,551.
Among the prominent decliners, Bharti Airtel, Mahindra & Mahindra, Tech Mahindra, IndusInd Bank and Tata Motors slumped 4-5 percent.
Oil extended gains and hit USD 100/bbl for the first time since September 2014 on fears of supply disruptions, while gold traded above $1,920/Oz.
Market Analysis
Sensex, Nifty Plunge As Russia Invades Ukraine
2022-02-24 04:58:17
