Dalal Street bleeds as Russia attacks Ukraine; investor wealth erodes by ₹8-lakh cr
Sensex and Nifty crash over 3% in early morning deals following massive selloffs in global share markets
Dalal Street jumped into the red on Thursday as Russia began its attack on Ukraine. Indian investors’ wealth tumbled by more than ₹8 lakh-crore in less than an hour of trade. The market capitalisation (m-cap) of BSE-listed companies crashed to ₹2,47,46,960.48 crore at around 10.15 am.
At close of trade on Wednesday, the m-cap, an indicator of notional wealth of investors, was at ₹2,55,68,668.33 crore. This reflects a wealth erosion of more than ₹8.2 lakh-crore.
Domestic equity indices Sensex and Nifty crashed over 3 per cent in early morning deals on Thursday following massive selloffs in global share markets after Russia announced military operations in Ukraine. The BSE Sensex tanked 1,718.99 points or 3 per cent to 55,513.07; and the Nifty plunged 508.85 points or 2.98 per cent to 16,554.40.
Other Asian markets
Elsewhere in Asia, too, markets tumbled as the Ukrainian crisis escalated. Hong Kong’s Hang Seng Index fell 3.2 per cent while Korea’s Kospi dropped 2.7 per cent. In Japan, the Nikkei 225 lost 2.4 per cent after coming back from a holiday. China’s Shanghai Composite moved 0.9% lower.
Ukraine crisis live updates: Putin launches ‘full-scale invasion’
US stocks futures also declined. Dow futures were around 780 points, or 2.4 per cent, lower. The S&P 500 and Nasdaq futures were down 2.3 per cent and 2.8 per cent, respectively.
The Russian ruble tumbled around 10 per cent against the US dollar, trading at 89.59 per dollar.
Russian President Vladimir Putin on Thursday announced a military operation in Ukraine. In a televised address, he said the responsibility for bloodshed lies with the Ukrainian “regime”. Putin warned other countries that any attempt to interfere with the Russian action would lead to consequences they have never seen.
Meanwhile, US President Joe Biden has warned that the world will hold Russia accountable for the death and destruction due to the “unprovoked” and “unjustified” attack on Ukraine and the US and its allies will respond in a “united and decisive” way.
