Sensex tanks over 850 points on weak global cues


PTI, Mar 4, 2022, 11:40 AM IST

Mumbai: Equity benchmark Sensex tumbled over 850 points in the opening session on Friday, tracking a weak trend in global markets amid escalating tensions between Russia and Ukraine.

The 30-share Sensex slumped 851.99 points to 54,250.69 in early trade after a weak start. The broader Nifty declined 185.60 points to 16,312.45.

“Volatility in US equities continue as the Russian invasion of Ukraine entered its second week. Investors remain wary and attempt to gauge how international sanctions could penalise Putin’s regime. The Dow Jones fell 0.3 per cent. The Nasdaq was down more than 1.6 per cent while the S&P 500 lost 0.5 per cent,” according to Mitul Shah, Head of Research at Reliance Securities.

Asian Paints, Maruti Suzuki India, Axis Bank, Wipro and Mahindra & Mahindra were the biggest drag in morning trade, tumbling up to 4.51 per cent.

In the previous session, the 30-share BSE index finished 366.22 points or 0.66 per cent lower at 55,102.68. Similarly, the broader NSE Nifty declined 107.90 points or 0.65 per cent to close at 16,498.05.

Bourses in Hong Kong, Shanghai and Tokyo were trading significantly lower in mid-session deals.

Stock exchanges in the US closed in the negative zone in the overnight session.

Meanwhile, international oil benchmark Brent crude surged 1.53 per cent to USD 112.16 per barrel.

Foreign institutional investors continued their selling spree in Indian markets as they offloaded shares worth Rs 6,644.65 crore on a net basis on Thursday, according to exchange data.

“The war and surge in crude have completely transformed the economic scenario and market expectations. If the war prolongs global economic growth may be impacted,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

BJP stages protest against Karnataka govt over Waqf properties row

Youth attempts suicide after being humiliated in public for wearing ripped jeans in Belthangady

India crawl to 51 for 4 after losing top-order

Nursing student suicide: Three students arrested in Kerala

Nadda’s letter to Kharge full of falsehoods: Cong

10 month baby gets new heart, new life

Actress Kasthuri released from jail, says ‘I thank those who made me raging storm’

Related Articles More

Baku climate talks: The ‘X’ factor that could determine future of Global South

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

Gautam Adani charged in US with USD 250 mn bribery, fraud

India’s GDP growth likely to slip at 6.5 pc, maintains 7 pc estimate for FY25: Icra

RBI cautions public about ‘deepfake’ video of governor being circulated on social media

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

SC notice to Gujarat govt on Asaram’s plea seeking suspension of sentence in 2013 rape case

BJP stages protest against Karnataka govt over Waqf properties row

US charges against Adani, 7 others could lead to arrest warrants, extradition bid: attorney

Youth attempts suicide after being humiliated in public for wearing ripped jeans in Belthangady

Baku climate talks: The ‘X’ factor that could determine future of Global South

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.