Sensex Crashes Over 1,400 Points, Nifty Trades Below 16,950; JSW Steel, Tata Steel Top Drags

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On BSE, the overall market breadth was weak as 447 shares were advancing while 2,593 were declining.

New Delhi: The Indian equity indices plunged heavily on Monday dragged by losses across all sectors. As of 9:34 am, the benchmark BSE Sensex fell 1,405 points or 2.42 per cent to 56,748; while the broader NSE Nifty slipped 428 points or 2.47 per cent to 16,947.

Asian shares slipped as warnings Russia could invade Ukraine at any time sent oil prices to seven-year peaks. The United States on Sunday said Russia might create a surprise pretext for an attack, as it reaffirmed a pledge to defend “every inch” of NATO territory.

Also, markets have been in convulsions since an alarmingly high US inflation reading sparked speculation the Federal Reserve might raise rates in March.

Back home, mid- and small-cap shares were trading on a negative note as Nifty Midcap 100 index fell 2.34 per cent and small-cap shares moved 2.94 per cent lower.

On the stock-specific front, JSW Steel was the top Nifty loser as the stock cracked 6.08 per cent to Rs 630.60. Tata Steel, SBI, HDFC and Tata Motors were also among the laggards.

In contrast, TCS and Divi’s Lab were among the gainers.

On BSE, the overall market breadth was weak as 447 shares were advancing while 2,593 were declining.

On the 30-share BSE platform, SBI, Tata Steel, HDFC, Bharti Airtel, ICICI Bank and IndusInd Bank attracted the most losses with their shares sliding as much as 4.23 per cent.

Sensex had slumped 773 points or 1.31 per cent to close at 58,153 on Friday, while Nifty had settled 231 points or 1.31 per cent lower at 17,375.


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