Amid Ukraine-Russia war, Indian markets feel the heat again, Sensex 1900 points down

On Monday, The Sensex and Nifty fell by 3% in the early trades amidst worsening Ukraine-Russia crisis, sending oil prices surging to the highest level since 2008.

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With the ongoing war in Ukraine, Russia has been facing sanctions in the imports, which has been taking toil on Indian markets. The stock market of India has been trading in Red. Sensex crashed by 1900 points, while on the other hand Nifty was down by over 500 points. Both Nifty and Sensex have been doing their business in losses. Last week they posted their fourth consecutive weekly loss.


According to the Reuters Report, this comes after investors started dumping risky assets as oil prices soared after United States and European Allies were said to be mulling a Russian oil ban.


The oil prices surged after European allies alongside with US, explored a Russian oil import ban, while on the other side with delays in the potential return of Iranian crude oil to global markets sped up supply fears.



India is the third- largest importer of crude oil in the world. The rising oil prices push up the country’s trade and current account deficit, while it’s also hurting the Rupee and fuelling imported inflation.


The market is believed to behave the same or more worse as long as the Ukraine- Russia war continues. 


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