Sensex plunges 1164 points amid worsening Russia-Ukraine crisis
Mar 07, 2022
Mumbai (Maharashtra) [India], March 7: The Indian stock markets key indices plunged by more than three per cent on Monday as oil prices soared to the highest level in 14 years and the rupee plunged to a record low amid worsening Russia-Ukraine crisis.
The 30 stock S&P BSE Sensex started the day deep in the red at 53,172.51 points and tumbled to a low of 52,542.64 points in the morning trade, which is 1,791.17 points lower from its previous session's close at 54,333.81 points.
The Sensex recouped part of the losses later in the day. At around 12.50 pm, the Sensex was trading 1164.33 points or 2.14 per cent down at 53,169.48 points.
This is the fourth consecutive session of deep loss in the benchmark index. The Sensex had plunged by 768.87 points, 366.22 points and 778.38 points in the previous three sessions, respectively.
The broader Nifty 50 of the National Stock Exchange also opened deep in the red at 15,867.95 points and slumped to a low of 15,741.55 points in the morning trade, which was 503.8 points down from its previous session's close at 16,245.35 points.
The Nifty was trading 310.45 points or 1.91 per cent down at 15,934.90 points at 12.58 pm. The Nifty had lost 252.70 points on Friday, the last trading session.
There was heavy selling pressure in banking and financial stocks. Axis Bank tumbled 6.12 per cent to Rs 671.40. IndusInd Bank dipped 5.68 per cent to Rs 851.20. Bajaj Finserv slumped 5.09 per cent to Rs 14549.50. State Bank of India slumped 4.59 per cent to Rs 440.75.
Maruti Suzuki crashed 5.74 per cent to Rs 6828.75. Mahindra & Mahindra slumped 5.63 per cent to Rs 690.85.
The index heavyweight Reliance Industries was trading 2.54 per cent down at Rs 2266.25.
Only five of the 30 scrips that are part of the Sensex were trading in the positive. Bharti Airtel soared 3.35 per cent to Rs 674.90. HCL Technologies rose 1.21 per cent to Rs 1151.80. Infosys, Wipro and Tata Steel were other Sensex gainers.
