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Ukraine Fears On Largest Sensex Fall In A Year On Fed

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Ukraine
Photo Credit: Times of India

A host of worldwide and household elements merged on Monday to pull the Sensex from top to bottom almost 1,750 points or 3% of its largest single-session slide in nearly a year. The Sensex slammed at 56,406 points while on the NSE, the Nifty stray 532 points or 3.1% to close at 16,843.

In the US, inflation is at a 40 year high, leading to the fright of keen trudge in interest rates by the Federal Crude Oil price is also in a hurry towards the $100% barrel mark, nearly an eight-year peak, mostly due to the Ukraine condition. The rupee’s feebleness and selling by the foreign funds also influence the lender’s point of view. 

Monday’s slide left shareholders impoverished by Rs 13 lakh crore with BSE’s market capitalization now at nearly Rs 259 lakh crore. The trade-in the market on Monday was so powerful that of the 30 Sensex constituents, all blue-chip stocks, 29 closed in the red with TCS the only one closing higher. ICICI Bank, HDFC, and HDFC Bank benefited the most from the index slide. 

According to Siddhartha Khema, head of retail research, Motilal Oswal Financial Services, Indian markets opened sharply lower as the fear of war in Ukraine summed to concerns surrounding high inflation and the potential interest rate in the US Fed. 

In the event of a Russian attack on Ukraine, possible economic and other sanctions could disrupt exports of crude oil from one of the world’s top producers, Khema wrote in a post-market research note.

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