Black Friday at Sensex, Ukraine war sees market crashing by over 1000 points

By Team Newsable | First Published Mar 4, 2022, 12:09 PM IST

As per the latest reports, Sensex slumped 1050.65 points, currently trading at 54,052.03; while Nifty was down by 304.40 points, currently at 16,193.65.

Indian stocks sank further on Friday, echoing a sell-off in global financial markets, as the intensifying Ukraine conflict drove up oil prices and fueled inflation worries. As per the latest reports, Sensex slumped 1050.65 points, currently trading at 54,052.03; while Nifty was down by 304.40 points, currently at 16,193.65.

Fears drove Asian markets to a 16-month low, while Brent crude May futures fell to $114.23 per barrel. On Thursday, the contract had fallen 2.2%. Asian Paints was the Sensex pack's biggest loss in early trade, followed by Maruti Suzuki, Axis Bank, HUL, Wipro, and M&M. Tata Steel and NTPC, on the other side, were trading higher. Asia's stock markets were in a spin, with Japan dropping 2.4 percent, South Korea 1.2 percent, China 0.9 percent, and Hong Kong 2.5 percent. Australia, which is heavily reliant on commodities, was not spared in the fall, losing 1%.

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Meanwhile, the rupee fell 11 paise to 76.05 versus the US dollar in early trade on Friday, reflecting the rise in worldwide petroleum prices as the Russia-Ukraine situation heated up. Forex traders warned that unabated foreign money outflows and a negative trend in local stocks impacted investor morale.

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