Digital Desk: The Indian stock market has experienced a massive sell-off after Russia attacked Ukraine on Thursday. According to the report, Indian investors lost over Rs 10 lakh crore on Thursday after Russian President Vladimir Putin announced a war against Ukraine. As a result, the market capitalization of BSE-listed companies has dropped by Rs 10 lakh crore and nine out of every ten stocks were trading in the red.
According to data, the Sensex was down almost over 2,000 points. The Nifty fell by 570 points. The Sensex traded at 55,480.16 at 12:20 a.m., down almost 1,700 points from the previous close. The Nifty, on the other hand, was down nearly 500 points at 16,570.05.
Today's Sensex equities were all red, with IndusInd Bank facing the biggest hit. Except for IndusInd Bank, the top losers in the Nifty index were Tata Motors and Hero Moto Corp. Only two stocks, Hindalco and ONGC, were in the black.
On the other hand, oil prices have risen to their highest levels since 2014, which may cause ONGC prices to rise. Brent crude oil crossed the $102 per barrel mark as tensions grew. Oil prices haven't been this high since 2014.
Meanwhile, the Moscow Stock Exchange has halted trading till further notice due to the difficult circumstances. The formal notification is available on the exchange's official website, moex.com.
In India, gold prices have also surpassed the Rs 51,000 threshold. Gold was trading at 51,601 as of 12:30 a.m. This is a huge increase of Rs 1,222. Gold is seen as a safe haven as a hedge against market volatility, and its prices have risen to multi-month highs.
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