Escalating Russia-Ukraine crisis ripples via markets; Sensex falls 383 pts

The markets fell for the fifth straight day on Tuesday as escalation in tensions between Russia and Ukraine prompted investors to dump risky assets. The Sensex dropped 1,289 points, or 2.3 per cent, intraday before recouping over two-thirds of the losses.

News reports that Russia is not yet setting up military bases in eastern Ukraine calmed frayed investor nerves.

The Sensex ended the session at 57,300, with a decline of 383 points, or 0.66 per cent. The Nifty, on the other hand, ended the session at 17,092, with a drop of 114 points, or 0.67 per cent.

The broader market saw a deeper