Market Overview: Steepest Session Fall on Sensex, Sectors Tank Up to 8.3% & More

  • Investing.com
  • Stock Market News
Market Overview: Steepest Session Fall on Sensex, Sectors Tank Up to 8.3% & More

By Malvika Gurung

Investing.com -- 

Indian benchmark equity indices Nifty 50 and Sensex ended sharply lower, extending losses to the 7th straight session, as headline gauges tank almost 5% on Thursday. 

Marred by soaring oil prices, Russia-Ukraine’s aggravating geopolitical tensions, and massive sell-offs, BSE Sensex recorded its 4th worst fall ever and steepest single-day fall in history.

Headline benchmark gauges Nifty and Sensex ended 4.8% and 4.7% lower, respectively, their steepest fall since May 2020.

With the Russian President Vladimir Putin’s announcement of military operations in Ukraine, sirens of an impending Russian invasion of Ukraine rung.

Markets worldwide were cautious of a Russian war on Ukraine but were not expecting it, as a diplomatic meet between Biden and Putin was scheduled. However, markets could not absorb the shock, and oil prices soared over $105/barrel, hitting their highest level in more than 7 years.

Fear barometer, India VIX flew to record its 20-month high, skyrocketing 33% to 32. Consequently, Dalal Street investors lost Rs 13.6 lakh crore worth of wealth on Thursday.

Broader market indices underperformed their headline peers, with Nifty Midcap falling 5.74% and Nifty Smallcap tanking 6.25%. 

All sectoral indices on the Nifty basket ended deep in red, with Nifty PSU Bank plummeting the most by 8.3% and Nifty Realty , down 7.2%. Nifty Bank ended 5.8% lower.

On the Nifty index, all stocks ended lower, led by Tata Motors (NS: TAMO ), down 10.7%. On the 30-scrip Sensex, losses were led by IndusInd Bank (NS: INBK ), down 8%.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
  • Ramesh Kannan @Ramesh Kannan
    Best way to go through the next couple of days, mostly from Mknday marlet will reverse vigorously with morning gapups. Don’t watch news, Dont listento anyone. Think clinically dispassionately who is selling and who is that some one thatis buying. What will happen to11k crores SIP bounty a month. Drivem by fear, won’t retail folks pull out of SIP qnd sell MF holdings. That too month beginning being close. So just ait tight. Dont let emotions tale control your decisions. After a week, youwill emerwge as a winner
    Like 0
  • Ramesh Kannan @Ramesh Kannan
    As per NSE, DIi bought more than whatFII had sold. The fall was orchestrated in such a way to instill fear factor in the minds of retail folks, who sell in the down trend and biy only in the uptrend. This helps MFs to accumulate at lower levels ar attractive valuation. Early next week onwards, market will start rallying ( they must be thinking already as to what can it be attributed to). By next week, no one talks about russia or ukraine as If nothing happened
    Like 0
  • Arun Muthuvijayan @Arun Muthuvijayan
    Minor supports are at 16000 and 15500. Major support is at 15000.
    Like 1
    • Surendra Malawat @Surendra Malawat
      sir ji good
      Like 0
    • mehul shah @mehul shah
      it will bounce back as soon as Ukrainian military fails and Putin will call of the operation...
      Like 0
    • mehul shah @mehul shah
      call off*
      Like 0
    • Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

      Error: File type not supported

      Drop an image here or

      100
  • Mohit Sagar @Mohit Sagar
    Is there any chance of recovery?
    Like 0
  • SP Singh @SP Singh
    It was a blood bath today. Lost cool money since this Monday. More is yet to come. Expecting mors fall tomorrow. Right time to invest in Nifty shares
    Like 1
  • Rakesh Prasad @Rakesh Prasad
    I m Inflected and bleeding.
    Like 0

Related Articles