Article by Sneha Singh, image courtesy Wikipedia

Amid anxieties scaling about the growing uncertainties between Russia and Ukraine, oil prices skyrocketing to reach 7-year heights, Dalal Street saw one of its worst days and outstretched losses to the second successive session.

Increased tension between the US and Russia over Ukraine sent oil prices rising and forced investors to dump risky assets. Risk sentiment was further dampened ahead of the Fed’s emergency meeting, which heightened fears of aggressive monetary tightening

Vinod Nair, Geojit Financial Services to PTI

The bulls of stock markets were captured nursing their wounds as bears directed a bloodbath. The 30-share pack Sensex slipped 1747.08 points or 3 percent to lock at 56,405.82. All sectors in the market closed on a red line. 

Market loss at a Glance

Equity investors lost Rs 8.54 lakh crore as their capital mirrored in the market cap of BSE-listed businesses dipped to Rs 255.35 lakh crore.

Plummeting by 6.47 percent, Steel was among the top losers. Also, the business that made a fortune out of the red lines was TCS which rose by 0.93%. 

The stocks that struggled include some famous names like ITC Tata Steel, HDFC, HDFC Life Insurance, SBI, UPL, Shree Cement, etc.

Many broader market indices underperformed their peers on the headline. Nifty Midcap plunged 3.94 %, and Nifty Smallcap lost 4.44 percent. Nifty 500, the most comprehensive index on NSE, terminated at 3.30 percent. 

All Sectoral indices were the lowerest on NSE. Nifty PSU Bank was the grandest loser which dropped by 5.95%. Nifty Realty was ahead in the queue, and Nifty Metal plunged by 5%. Nifty Financial Services and Nifty Media were the other greatest losers along the line. 

The market was standing in favor of losers as around 2,984 names were nailed in cuts, and only 567 stocks ended with a green line. From the scope of smallcap, as many as 184 securities struck 52-week highs. Also, 120 names were devastated by 52 weeks lows, generally from the microcap room. 

Almost 255 stocks smashed upper circuit boundaries and 760 lower circuit boundaries. 

A glimpse of the market around the globe

London-based FTSE dropped 1.91 percent. Paris and Frankfurt lost 3.18 percent and 3.18 percent, respectively. European exchanges were also trading lower. Whereas in Asia, all markets closed on red. 

Wall Street ended lower on Friday, pulled down by significant tech giants as investors fretted about Omicron and resumed recapitulating the Federal Reserve’s judgment to terminate its pandemic-era impulse quickly.

All three major US stock indices encountered downhill for the week after the Fed directed three interest rate strolls to battle inflation by the end of 2022. 

Korea’s Kospi was down 1.8 percent, and the Shanghai Composite had dropped 0.7 percent. While Japan’s Nikkei tumbled 2.2 percent to 27,915 points, Hang Seng lost 1.5 percent at 22,858 points. 

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