Inflation shocks worldwide due to Russia Ukraine crisis | Namaste Bharat ( 7 March 2022)

The Indian benchmark indices, Sensex and Nifty, on Monday, started trade with sharp cuts amid the ongoing Russia-Ukraine war. Downbeat international sentiment, Brent Crude trading at $130 a barrel, and global shares sank as the risk of a US and European ban on Russian oil and delays in Iranian talks triggered what was shaping up as a major stagflationary shock for global markets. Most of the sector gauges, compiled by the National Stock Exchange, were trading in the red. Nifty Auto and Nifty Bank were underperforming the index by falling as much as 4.38 per cent and 3.69 per cent, respectively, in early trade. However, Nifty Metal moved as much as 0.47 per cent higher.