Dismal opening on the cards as Russia-Ukraine tension worsens
Published on Feb 22, 2022 08:38
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 216 points at the opening bell.
Overseas, Asian stocks are trading lower on Tuesday as tensions surrounding Russia and Ukraine continue to keep investors on edge.
Russian President Vladimir Putin reportedly ordered forces into two breakaway regions of eastern Ukraine, following a Monday announcement that he would recognize their independence. After that development, the White House responded, with U.S. President Joe Biden ordering sanctions against the separatist regions of Ukraine.
U.S. markets were closed for a holiday on Monday.
Oil jumped to a seven-year high as Europe`s eastern flank stood on the brink of war after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine.
Back home, domestic equity indices declined for the fourth consecutive session on Monday. The S&P BSE Sensex, fell 149.38 points or 0.26% at 57,683.05. The Nifty 50 index lost 69.65 points or 0.4% at 17,206.45.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,261.90 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,392.85 crore in the Indian equity market on 21 February, provisional data showed.
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