NSE Nifty 50 index had fallen by 1.36 per cent or 224.10 points to 16,273.95 and the S&P BSE Sensex had dropped by 1.36 per cent or 747.66 points to 54,355.02.
Share market.
The share market opened in the red as both sensex and nifty fell more than one per cent in early morning trade on Friday. A sell-off in global equity markets was witnessed, as the escalating Ukraine crisis sent oil prices surging and stoked inflation fears.
The blue-chip NSE Nifty 50 index had fallen by 1.36 per cent or 224.10 points to 16,273.95 and the S&P BSE Sensex had dropped by 1.36 per cent or 747.66 points to 54,355.02. Both the indexes were set for their fourth consecutive weekly loss.
FEARS OF INFLATION
Ukraine’s state emergency service said a fire broke out in a building outside the largest nuclear power plant in Europe during intense fighting between Russian and Ukrainian forces.
India is the world’s third-largest importer of crude oil, and rising prices push up the country’s trade and current account deficit while also hurting the rupee and fuelling imported inflation.
STOCKS IN FOCUS
Nifty’s bank index, financial services index, auto index and IT index were among the top losers, falling between one per cent and two per cent, according to Reuters.
Asian stock markets suffered heavy losses while oil prices jumped on the worsening Russia-Ukraine conflict, Reuters reported.
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