May 29, 2022

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The Sensex crashed more than 1,400 points amid the Ukraine crisis, and less than 15,850 points. Withdrawing shares of banks and cars

The Sensex crashed more than 1,400 points amid the Ukraine crisis, and less than 15,850 points.  Withdrawing shares of banks and cars

In BSE, overall market breadth was poor as 572 shares rose while 2043 shares declined.

New Delhi: Indian stock indices opened a huge gap on Monday amid the ongoing Russia-Ukrainian war. Crude oil prices rose and global stocks tumbled with the threat of a US and European ban on Russian oil and delays in Iran talks, sending a major inflationary shock to global markets. Commodities of all kinds were on the rise as the Russian-Ukrainian conflict showed no sign of abating. Gold reached the key level at $2000 an ounce as investors rushed towards the safe haven assets. Oil prices soared above $130 to reach their highest levels since 2008.

Back home, as of 9:25 a.m., the BSE Sensex was down 1,428 points, or 2.63 percent, at 52,906; While the broader NSE Nifty fell 398 points, or 2.45 percent, to 15,847.

The shares of medium and small companies were trading in the negative territory, with the Nifty Midcap 100 index declining by 2.62 percent and the shares of small companies by 2.41 percent.

Most of the sector metrics – compiled by the National Stock Exchange – are trading in red. Nifty Auto and Nifty Bank underperformed the index by dropping 4.38 percent and 3.69 percent, respectively, in early trading. However, Nifty Metal stock rose 0.47 percent.

On the specifics front, Maruti Suzuki India was the biggest loser from Nifty as the stock rose 5.59 per cent to Rs 6,842.35. Bajaj Finance, ICICI Bank, Escher Motors and M&M were among the laggards.

In BSE, overall market breadth was poor as 572 shares rose while 2043 shares declined.

On the BSE 30-share index, Maruti, Bajaj Finance, ICICI Bank, L&T, UltraTech Cement and M&M were among the biggest losers. In contrast, Tata Steel was traded in the green.

The Sensex was down 769 points, or 1.40 percent, to close at 54,334 points on Friday. While Nifty shares fell by 253 points, or 1.53 percent, to settle at 16,245 points.