Sensex in volatile mood amid Russia-Ukraine standoff

Mumbai: The BSE gauge Sensex closed below the key 58,000-level after a highly volatile session on Wednesday, dragged lower mainly by banking, metal and auto shares.

The 30-share benchmark swung nearly 800 points during the session before closing at 57,996.68 — marking a loss of 145.37 points or 0.25 per cent.

Likewise, the NSE Nifty swung between gains and losses before settling 30.25 points or 0.17 percent lower at 17,322.20.

On the Sensex chart, NTPC, SBI, UltraTech Cement, ICICI Bank, Tata Steel, Bajaj Finserv and Bjaja Finance were among the major laggards. Of the index constituents, 22 shares closed with losses.

Elsewhere in Asia, bourses closed with significant gains as fears of a Russian invasion of Ukraine dissipated.

Global cues, such as heightened tensions between Russia and Ukraine, as well as the subdued industrial production data, plunged India’s key indices — S&P BSE Sensex and NSE Nifty50 earlier this week.

Besides, high crude oil prices along with selling pressure from FIIs dragged the two indices lower.

Globally, Asian stocks slipped as traders parsed geopolitical risks and worries about Federal Reserve policy tightening.

Image courtesy of thesatimes

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