Sensex Sees 10th Major Crash As Russia Goes Into War

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Sensex Sees 10th Major Crash As Russia Goes Into War

February 24, 2022

It was a bloody bath on Sensex today, probably the worst crash Indian Sensex market as seen in recent times. The reasons are quite familiar, Russia into a war with Ukraine.

As of 1:29 pm, the benchmark BSE Sensex tanked 2,005 points or 3.50 per cent to 55,270; while the broader NSE Nifty moved 614 points or 3.52 per cent down to 16,448.

Asian share markets also slumped as Japan’s Nikkei fell 2.17 per cent, South Korea’s KOSPI was down 2.66 per cent and the Shanghai Composite index dropped 0.89 per cent. Also, Brent oil surged to $100 a barrel for the first time since 2014 amid the Ukraine crisis.

Back home, mid-and small-cap shares were trading on a negative note as Nifty Midcap 100 index moved 2.65 per cent lower and small-cap shares shed 3.06 per cent.

All the 15 sector gauges — compiled by the National Stock Exchange — were trading in the red. Nifty PSU Bank and Nifty Auto were underperforming the index by falling as much as 3.20 per cent and 2.71 per cent, respectively.

On BSE, the overall market breadth was weak as 270 shares were advancing while 2,378 were declining. Investors’ wealth plummeted by more than ₹ 8.75 lakh crore to ₹ 2,46,93,772.06.

The share market scenario is dwindling and might further be a reason of worry for millions as the war situation might further shift the economic flow of India and abroad.

Story By- Saayak Karmakar, Resident Editor, Interview Times

Image Source- Google

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