Brutal Selling In Markets: Sensex Loses 2,100 Points & Investors Rs 10 Lakh Crores

Indian markets plunged in trade today, after Russia invaded Ukraine, sending oil and gold prices surging and markets falling.

It was mayhem across the Indian markets that we last saw during the Covid crisis in March 2020, when indices kept losing 2,000 points. In today's trade the Sensex lost a whopping 2700 points and investors more than Rs 10 lakh crores. The Sensex ended the day lower by 2702 points at 54529 points, while the Nifty dipped points 815 points to 16,247 points.

While generally India is more resilient to happenings abroad, this time it is not so. Russia's invasion means crude oil price surged and India is very much vulnerable to rising crude prices.

The fall was so dramatic that heavyweights like ICICI Bank and Reliance Industries plunged 4% rather easily. The biggest fall came from names like Tata Motors, which plunged as much as 9%, while UPL, JSW Steel and Grasim lost between 7 to 8%.

The only stock that managed to stay resilient in the turmoil was Hindalco from among the Nifty stocks, that ended marginally higher.

It was all happening in the markets with the rupee losing as much as 69 paise and gold seeing a solid rally of 2.68%. Indian markets saw the steepest fall when compared to peers thanks to its exposure to crude oil, which surged following the invasion of Ukraine by the Russian forces.

Investors are advised caution as markets could fall even further in the coming days, as the invasion is likely to continue and developing news would impact oil prices.