Sensex Crashes Over 1,000 Points, Nifty Below 16,950 Amid Ukraine Crisis

The Indian equity indices plunged sharply on Tuesday as investors turned cautious amid the Russia-Ukraine standoff. Russian President Vladimir Putin recognized two breakaway regions in eastern Ukraine, increasing concerns about a major war.

As of 9:19 am, the benchmark BSE Sensex tanked 1,004 points or 1.74 per cent to 56,680; while the broader NSE Nifty moved 285 points or 1.66 per cent down to 16,922.

Asian share markets also slumped as Japan’s Nikkei fell 2.34 per cent, South Korea’s KOSPI was down 1.72 per cent and the Shanghai Composite index dropped 1.36 per cent.

Back home, mid-and small-cap shares were trading on a negative note as Nifty Midcap 100 index moved 1.56 per cent lower and small-cap shares shed 1.78 per cent.

All the 15 sector gauges — compiled by the National Stock Exchange — were trading in red. Nifty PSU Bank and Nifty were underperforming the index by falling as much as 2.59 per cent and 2.03 per cent, respectively.

On the stock-specific front, TCS was the top Nifty loser as the stock cracked 2.94 per cent to ₹ 3,610.00. L&T, Dr Reddy’s, UPL and Bajaj Finserv were also among the laggards.

In contrast, ONGC was the only gainer.

On BSE, the overall market breadth was weak as 311 shares were advancing while 2,295 were declining

On the 30-share BSE platform, Dr Reddy’s, L&T, TCS, Tech Mahindra, HDFC and Bajaj Finserv attracted the most losses with their shares sliding as much as 3.06 per cent.

Sensex had dropped 149 points or 0.26 per cent to close at 57,684 on Monday; while Nifty had settled 70 points or 0.40 per cent lower at 17,207.