Closing Bell: Benchmark indices clocked their biggest one-day fall since March 2020 as Russia invaded Ukraine, rattling global markets

MARKETS: Selling intensifies; Sensex plunges 2,700 pts, Nifty below 16,300

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	<strong>CLOSING BELL</strong><br />
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	Russia&#39;s invasion of Ukraine launched a full-fledged attack on Indian equities on Thursday, with benchmarks dropping as much as 5 per cent. Commodities markets, meanwhile, surged with Brent oil extending gains above $100 a barrel (at $105 now) for the first time since 2014, while gold jumped as investors scrambled for havens. The monthly F&O expiry also added to deeper cuts during the fag-end of the session.</div>
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	Earlier today, Russian forces attacked targets across Ukraine after President Vladimir Putin ordered an operation to &quot;demilitarize&quot; the country, prompting international condemnation and a US threat of further &quot;severe sanctions&quot; on Moscow, sending markets tumbling worldwide. As things stands, US, EU, and UK are set to announce stricter sanctions against Russia and Ukraine has cut ties with the invader. <a href="https://www.business-standard.com/article/international/russia-dares-west-with-attack-on-ukraine-warned-of-decisive-response-122022400637_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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	Back home, the frontline S&P BSE Sensex settled near the day&#39;s low level at 54,530, down 2,702 points. On the NSE, the Nifty50 gave up 16,250 leve to end at 16,248, down 815 points.&nbsp;<br />
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	With this, the benchmarks are moving from &#39;correction zone&#39; to &#39;bear zone&#39; as they have plunged nearly 16 per cent from their January peaks. This was also their biggest one-day fall since March 2020, when the Covid-19 pandemic had roiled the markets.</div>
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	All 50 counters on the broader NSe index ended deep in the red with Tata Motors, IndusInd Bank, UPL, Grasim, Adani Ports, Hero Moto, JSW Steel, M&M, and HDFC Life plummeting between 6 and 11 per cent.</div>
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	In the broader markets, the BSE MidCap and the BSE SmallCap indices slumped 5.5 per cent and 5.7 per cent, respectively.</div>
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	Individually, Bank of India, Apollo Tyres, BHEL, Vodafone Idea, IDFC First Bank, L&T Housing Finance, LIC Housing Finance, HEG, Rain Industries, NBCC, HFCL, and Alok Industries plunged up to 14 per cent.<br />
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	Paint, aviation, tyre, and OMCs, which are heavily dependent on crude derivatives as their raw material, plummeted up to 10 per cent.</div>
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	Overall, advance to decline ratio was 1:21 on the NSE and 1:14 on the BSE. Fear gauge, India VIX, jumped to a 20-month high of 32, up 33 per cent.</div>
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	Sectorally, the Nifty PSU Bank tumbled over 8 per cent, Realty index 7.5 per cent, Private Bank 6 per cent, and Metal and IT indices 5 per cent. The Nifty Bank index, meanwhile, slipped over 2,100 points or 6 per cent to end at 35,200 level.</div>
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	<strong>Global markets</strong></div>
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	European stocks plunged 3 per cent on Thursday as investors dumped riskier assets after Russia attacked Ukraine. The pan-European STOXX 600 index fell 2.9 per cent - hitting its lowest since May 2021 while marking a correction or 10 per cent decline from its January record high.</div>
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	The German DAX fell 3.7 per cent to March 2021 lows, bearing the biggest brunt of the sell-off on fears over the country&#39;s heavy reliance on energy supplies from Russia<a href="https://www.business-standard.com/article/international/european-stocks-in-correction-territory-after-russia-attacks-ukraine-122022400743_1.html" target="_blank"><strong>. READ MORE</strong></a></div>
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	In US, Dow futures fell 655 points, or 1.98 per cent, while futures tied to the S&P 500 were down 1.99 per cent. Nasdaq 100 futures declined 2.65 per cent.</div>
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Sensex tanks 2,702pts, ends below 55K; Nifty gives up 16,250; Brent at $105

Business Standard

Sensex tanks 2,702pts, ends below 55K; Nifty gives up 16,250; Brent at $105 | News on Markets - Business Standard

As Brent crude inches towards $100 mark, what does it mean for the world?

On Wednesday, prices of Brent crude hit $96 per barrel&mdash;the highest since 2014. Now, with the US threatening to impose more sanctions on Russia and countries lifting the remaining Covid-19 restrictions, the situation may get further exacerbated as the threat of war looms <a href="https://www.business-standard.com/article/markets/as-brent-crude-inches-towards-100-mark-what-does-it-mean-for-the-world-122022301102_1.html" target="_blank"><strong>READ MORE HERE</strong></a><br />
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	<img align="" alt="opec, oil prices" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-10/04/full/1633357350-4291.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="opec, oil prices" width="620" /></div>
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SGX Nifty futures down 300 points from previous close, hint at sharp gap-down start

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	<img align="left" alt="chart" class="imgCont" height="184" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-02/24/full/1645670896-984.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="455" />
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		source: investing.com</div>
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Asian indices trade sharply lower as US warns against Russian invasion of Ukraine

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	<img align="left" alt="chart" class="imgCont" height="382" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-02/24/full/1645670687-8374.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="571" />
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		source: yahoo.com</div>
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US markets slip up to 3% on Wednesday as Russia-Ukraine woes escalate

Source: Reuters<br />
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	<img align="left" alt="chart" class="imgCont" height="297" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-02/24/full/1645670436-9973.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="594" />
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