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The key benchmark indices are trading in deep red in the opening session after a global sell-off in the US overnight on account of rapidly worsening Russia-Ukraine crisis. At 09:16 IST, the Sensex was down 1,426.28 points or 2.49 per cent at 55805.78, and the Nifty was down 407.80 points or 2.39 per cent at 16655.50. About 270 shares have advanced, 1853 shares declined, and 79 shares are unchanged.
On the bourses, all sectoral indices were bleeding too with maximum losses in Nifty Realty, down 4 per cent. Nifty PSBs, IT, Auto Metal were up to 3.5 per cent lower. All other indices slipped 2 per cent lower.
In the broader markets, the BSE MidCap and SmallCap indices were also in the negative territory, down up to 2.8 per cent, respectively. The overall breadth of the market was also extremely negative with 2,578 declines against 270 advancing stocks on the BSE.
VK Vijayakumar, chief investment strategist, Geojit Financial Services, said: “The growing concern surrounding the deteriorating Ukraine crisis has pushed global stock markets into correction mode. The near 20 per cent decline from the peak in NASDAQ is a clear indication of the correction that has set in. Also, the safe haven gold shooting to $1913 is a reflection of the risks arising from the crisis. Investors should wait and watch the unfolding situation before taking any major commitments.”
Global Cues
Wall Street’s major indices ended sharply lower on Wednesday, extending their recent rout as Ukraine declared a state of emergency and the U.S. State Department said a Russian invasion of Ukraine remains potentially imminent. The Dow Jones Industrial Average fell 464.85 points, or 1.38 per cent, to 33,131.76, the S&P 500 lost 79.26 points, or 1.84 per cent, to 4,225.5 and the Nasdaq Composite dropped 344.03 points, or 2.57 per cent, to 13,037.49.
Tokyo stocks opened lower on Thursday, extending falls on Wall Street, with investors avoiding risks as tensions between Russia and Ukraine mount. The benchmark Nikkei 225 index fell 0.61 per cent or 160.42 points to 26,289.19 at the open, while the broader Topix index was down 0.53 per cent or 9.91 points to 1,871.17.
Hong Kong tumbled in the first few minutes of trade Thursday morning after separatists called for help from Moscow to repel Ukrainian forces, ramping up fears of a Russian invasion. The Hang Seng Index sank 1.66 per cent, or 392.25 points, to 23,268.03. The Shanghai Composite Index fell 0.42 per cent, or 14.78 points, to 3,474.37, while the Shenzhen Composite Index lost 0.63 per cent, or 14.64 points, to 2,322.94.
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