Closing Bell: It's a market crash!

Closing Bell: It's a market crash!

by 5paisa Research Team Last Updated: 2022-02-24T16:48:56+05:30

 Domestic equity benchmarks Sensex and Nifty suffered deep losses amid a broad-based sell-off after Russian President Vladimir Putin announced a military operation in Ukraine.

Geopolitical tensions kept investors on edge today and globally as well as market participants assessed newsflow on the Russia-Ukraine conflict. The domestic equity market crashed nearly 5% as Russia launched an all-out invasion of Ukraine by land, air and sea on Thursday. It is the seventh day where the Indian benchmark indices registered a fall with Nifty breaching 16,300. Investors have lost Rs 13.57 lakh crore in wealth in a sharp plunge on Dalal Street today, with the market capitalization (m-cap) of BSE-listed companies falling to Rs 242 lakh crore from Wednesday's Rs 255 lakh crore mark.

At the closing bell on February 24, the Sensex was down 2,702.15 points or 4.72% at 54,529.91, and the Nifty was down 815.30 points or 4.78% at 16,248.00.

On the market breadth, about 240 shares have advanced, 3084 shares declined, and 69 shares are unchanged.

All stocks on the Nifty index ended in the red with Tata Motors, IndusInd Bank, UPL, Grasim Industries and Adani Ports being the biggest losers. Sector-wise, all the sectoral indices ended with a loss of 3-8% each, while in the broad market, the BSE midcap and smallcap indices shed over 5% each. In the biggest loser, the stock of Tata Motors cracked 10.71% to Rs 425.90. Also, Indus Towers Ltd tanked as much as 18.54% to Rs 205, after Britain's Vodafone Group Plc said it was looking to sell its entire 28.1% stake in the company.

Global stocks and US bond yields plunged, while the dollar, gold and oil prices rocketed higher. Also, oil prices breached USD 100 a barrel for the first time since 2014.

 

Also read: Indus Tower tanks as Vodafone decides to sell a partial stake in the company worth USD 200 million


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