Sensex on Wednesday witnessed a three-week low because it plunged by 927 points to settle at 59744.98 whereas Nifty settled at a 4 month low below 176,00. The figures are a mirrored image of weak global trends.
Falling for the fourth day in a row, the BSE Sensex tumbled 927.74 points or 1.53 per cent to settle at 59,744.98, the bottom closing degree since February 1. During the day, it tanked 991.17 points or 1.63 per cent to 59,681.55.
The 50-issue NSE Nifty declined 272.40 points or 1.53 per cent to finish at a four-month low of 17,554.30 with 47 of its constituents ending within the crimson.
From the Sensex pack, Bajaj Finance, Bajaj Finserv, Reliance Industries, Wipro, HDFC Bank, HDFC, ICICI Bank and Tata Steel have been the key laggards.
ITC was the lone winner within the Sensex pack.
In Asian markets, South Korea, Japan, China and Hong Kong ended decrease.
Stock exchanges in Europe have been quoting within the damaging territory in afternoon commerce. The US markets had ended considerably decrease on Tuesday.
“Resurgence of chilly conflict between US & Russia has introduced apprehension available in the market. Although it must be a short-term impact, the worry of sanctions towards Russia and its diploma of implication on the financial system, particularly on meals and oil exports, is including to the anxiousness. The market is simply recovering from the pandemic, and excessive curiosity & inflation are the headwinds within the background.
“It is presumed that this war will be fought on an economic front, limiting its effect on strong economies like the US & India. Awaiting the release of Fed and RBI minutes are the other major elements that kept investors on the side lines,” stated Vinod Nair, Head of Research at Geojit Financial Services.
International oil benchmark Brent crude declined 1.11 per cent to USD 82.11 per barrel.
Foreign Portfolio Investors (FPIs) purchased shares price Rs 525.80 crore on Tuesday, in accordance to trade knowledge.
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