By Malvika Gurung
Investing.com -- Indian shares have fallen sharply on Thursday, following Russian orders of military operations in Ukraine and reports of explosions heard in Kyiv, surging oil prices and steep sell-offs in the US market overnight, correcting Wall Street indices, with the technology-heavy Nasdaq Composite correcting 19% from its record high close on Nov 19.
With aggravating geopolitical tensions, Dalal Street's fear barometer, India VIX surged 25.8% to 30.9, zooming over 38% to the 34-level, hitting its highest level recorded since June 2020, in almost 2 years.
Investors on Dalal Street lost a roaring Rs 10 lakh crore in today’s session, as BSE market capitalisation tumbled to Rs 246 lakh crore, and 9 out of every 10 stocks in the domestic market were trading in red on Thursday.
The ongoing aggravated turf between Russia and Ukraine is escalating commodity prices, which if stay elevated for a few more months, will indicate RBI to quit its accommodative monetary stance. Indian 10-year bond yield has risen to 6.76% due to high Brent prices, states Phillip Capital.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.