Ukraine-Russia War Hits Markets Hard; Sensex Tanks Around 1500 Points

| Updated: March 7, 2022 5:29 pm

Sensex on Monday sheds around 2.74 percent and ends the day at 52,842.75, down around 1491 points. Nifty, on the other hand, ends below 16,000 points. Since the start of the month, nifty has declined by over 5 percent. Volatility in the market is visible after Russian President Vladimir Putin ordered the invasion of Ukraine on February 24.

Monday was the fourth day in a row that markets have ended in the red. In Asian markets, Japan’s Nikkei dropped around 3 percent and the Hang Seng index lost around 3.87 percent.

BSE List A Losers:

No.Company NameDecline (in %)
1J K Cement 11.27
2Arvind Ltd10.20
3Indigo Paints 8.85
4Brigade Enterprises 8.80
5IndiaMart InterMESH8.4

The market saw banks and realty sectors lose around 5 percent. Markets were under heavy pressure after the surge in crude oil prices. Maruti Suzuki was under pressure as it lost about 6.56 percent.

Nifty 50 Losers:

No.Company Name Decline (in %)
1IndusInd Bank 7.48
2Axis Bank Ltd 6.64
3Maruti Suzuki India 6.60
4Britannia Ind 6.46
5Bajaj Finance 6.32

Analysts believe that prolonged war between Russia and Ukraine can result in further sanctions on Russia, which will affect oil and gas prices in the world as Russia is one of the prominent suppliers of it. The sanctions of Russia have a significant impact on their economy as $630 billion of their forex reserves got stuck, and it has hit the world economy hard. In addition, India is also awaiting State election results on March 10, which can also affect the markets further.

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