Sensex and Nifty take a nosedive as investors continue the big sell-off fearing rising global uncertainties
Mar 7, 2022, 17:20 IST
- Sensex slipped nearly 3% on Monday morning following negative global cues on heightened concerns related to the Russia-Ukraine war.
- Also, crude oil prices have surged to $130 per barrel as compared to $91 per barrel a month back.
- Asian markets including Shanghai, Japan, and Hong Kong also remained in the red as investors across the world sold stocks on fear of rising uncertainties.
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Investors across the world have been fretting since the last few weeks and selling their investments in the equity market on rising uncertainties around the world. Sensex and Nifty 50 slipped nearly 3% on Monday morning following negative global cues on heightened concerns related to the Russia-Ukraine war.
Russia’s invasion on Ukraine has made things worse for the entire world by pushing up prices of important commodities like crude oil and metals.
While the oil prices were already tight before Russia invaded Ukraine, it got worse after the major oil producer executed a war.
The Indian economy is expected to be the worst hit because of the jump in oil prices as the country imports 80% of its oil needs and any rise in oil price increases the import bill.
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To prevent more damage western countries have already unleashed unprecedented sanctions on Russia that include seizing accounts of prominent companies, individuals.
Here are the stocks that investors dumped the most today:
Top loser stocks | % change as of 10:20 a.m. |
Maruti Suzuki | -6.49% |
Eicher Motors | -5.96% |
Tata Motors | -6.00% |
IndusInd Bank | -5.92% |
Axis Bank | -5.45% |
Ultratech Cements | -5.00% |
Hero MotoCorp | -5.29% |
SBI | -5.42% |
Bajaj Finserv | -4.98% |
M&M | -4.34% |
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