INSUBCONTINENT EXCLUSIVE:
The overall market breadth stood extremely weak as 577 shares advanced while 2,973 declined on BSE.New Delhi: The Indian equity benchmarks
plunged sharply on Monday, extending fall to the second straight session amid a global sell-off
The domestic indexes crumbled, tracking the meltdown in global markets due to escalating tensions between Ukraine and Russia
The 30-share BSE Sensex crashed 1,747 points or 3 per cent to close at 56,406, while the broader NSE Nifty settled 532 points or 3.06 per
cent lower at 16,843.Investors have lost more than Rs 8.50 lakh crore in a day after the slump on Dalal Street, with the market
shares finished in the negative zone as Nifty Midcap 100 index fell 3.94 per cent and Nifty Smallcap 100 index dived 4.44 per cent
In contrast, NSE's India VIX, Volatility Index, jumped as much as 23 per cent."The volatility has gone up with the increase in uncertainty
over tensions between Russia and Ukraine
The market is under downward pressure
It is expected that the tensions will get dissipated through geopolitical manoeuvres over the next few weeks, but market volatility will be
high during this period," said Mohit Ralhan, Managing Partner, TIW Capital Group.Asian shares also traded in deep red, after concerns that
Russia may soon invade Ukraine, which sent oil prices to seven-year peaks
Oil rates surged towards $100 a barrel for the first time since 2014.Back home, all the 15 sector gauges -- compiled by the National Stock
Exchange -- settled in red
Nifty PSU Bank and Nifty Metal underperformed the index by diving as much as 5.95 per cent and 5.06 per cent respectively.On the
stock-specific front, JSW Steel was the top Nifty loser as the stock cracked 6.47 per cent to Rs 627.95
HDFC Life, Tata Steel, Tata Motors and HDFC were also among the laggards.The overall market breadth stood extremely weak as 577 shares
advanced while 2,973 declined on BSE.On the 30-share BSE platform, Tata Steel, HDFC, SBI, ICICI Bank, Kotak Mahindra Bank and IndusInd Bank
attracted the most losses with their shares sliding as much as 5.80 per cent.
