Sensex Tanks 775 Points In Early Trade, Nifty At 16,595 Amid Russia-Ukraine Crisis

The broader markets, meanwhile, were outperforming the benchmarks with the BSE Midcap and Smallcap indices up 0.16 per cent and 0.6 per cent, respectively

New Delhi: The key benchmark indices, Sensex and Nifty, on Wednesday plunged sharply in opening trade snapping two-day positive streak amid geo-political tensions between Russia and Ukraine.

At 9.45 am, the 30-share BSE Sensex tanked 775 points to 55,471, while the NSE Nifty was at 16,595, down 198 points.

On the Sensex platform, Tata Steel, PowerGrid, NTPC, Tech M, M&M, and Reliance were the top gainers, up 0.3-3 per cent.

On the flipside, ICICI Bank, Maruti, Asian Paints, HDFC twins, Kotak Bank, Ultractech Cement, IndusInd Bank, and Axis Bank were the top drags, trading 1.4-3 per cent lower.

On the Nifty, Coal India, ONGC, Hindalco, Tata Steel were the top performers, trading 3-4 per cent higher, while Bajaj Auto was the additional top laggard on the index, down 4 per cent.

The broader markets, meanwhile, were outperforming the benchmarks with the BSE Midcap and Smallcap indices up 0.16 per cent and 0.6 per cent, respectively.  

Most of the sector g auges, compiled by the National Stock Exchangewere trading in the red. Nifty Bank and Nifty Financial Services were underperforming the index by slipping as much as 2.08 per cent and 2 per cent, respectively. However, Nifty Metal surged as much as 2.83 per cent in early deals.

Losses in financial and auto stocks pulled the headline indices lower, however, gains in oil and gas and metal shares lent some support.

In the Indian capital markets, foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 3,948.47 crore on Monday, according to stock exchange data.

Meanwhile, Asian stocks also came under renewed pressure and oil prices soared on worries about the impact of strict sanctions against Russia over its invasion of Ukraine sank shares in Europe and on Wall Street.

Brent crude futures climbed $3.55, (3.4 per cent) to $108.52 a barrel, scaling highs not seen since July 2014.

In the previous session on Monday, Sensex had jumped 389 points (0.70 per cent) to close at 56,247; while Nifty had moved 136 points (0.81 per cent) higher to settle at 16,794.