Russia-Ukraine crisis shakes global markets, sends oil soaring

The Stock, bond, and commodity markets around the world have been rattled after Russia declared Military operation against Ukraine sending stocks tumbling and crude oil prices surging. Indian stock market's benchmark indices, Nifty 50 and Sensex slipped around 3 percent each, hitting their lowest levels since December 2021. At 11 30 AM Thursday, the Nifty-50 index slipped below the 16,500 mark and BSE-Sensex was 2000 points lower around 55,300 levels. Among sectors, real estate, metals, state-owned banks, and media stocks were the worst hit followed by banks and information technology scrips. in the last hour of trades. The S&P BSE Sensex plunged 2,702 points, 4.72%, to settle at 54,530, while the Nifty 50 dropped 815 points, or 4.78%, to settle at 16,248. Thursday’s market crash was the tenth worst in the history of the Indian stock market. Investors lost Rs 13.57 lakh crore in wealth as the market capitalisation of BSE-listed companies dropped to  Rs 242 lakh crore from Wednesday's  Rs 255 lakh crore mark.
Brent crude futures topped the $100 a barrel mark, fearing disruption of Russian energy exports. India imports more than 80% of its oil requirements and higher crude oil prices could widen the Current Account Deficit.  On the global front, USA's S&P 500 index was down 2.3% and Nasdaq futures fell 2.8% confirming it is in a bear market. Euro Stoxx 50 futures and German DAX futures were down more than 3.5% in early deals along with global risk assets.Russian stocks nosedived 50% today as trading resumed on Moscow Stock Exchange after a two-hour suspension amid the Ukraine crisis.

Shares in the Asia-Pacific region and in European market witnessed surge in selling activities  as Russia launched a full-scale invasion of Ukraine. The Russia-Ukraine tensions have rattled global equities as concerns about geopolitical tensions prompted investors to shift focus to safer assets such as dollar and gold. In the Asia-Pacific region, all major markets ended in red, led by Singapore’s Straits Times Index, which crashed 3.45%. The Hang Seng index in Hong Kong dived 3.2%, while Australia’s ASX 200 index dropped 2%. Japan’s Nikkei 225 ended 1.8% lower, while South Korea’s KOSPI slumped 2.6%.