Indian equity benchmarks -- Sensex and Nifty50 -- recovered much of the day's losses in a volatile session on Friday, as the Ukraine crisis deepened. Investors remained nervous across global financial markets after the news of Russian military forces seizing the Zaporizhzhia nuclear power plant in Ukraine.
Both headline indices fell as much as 2.2 percent during the session before recovering some of those losses. The 30-scrip index lost 768.9 points or 1.4 percent for the day to settle at 54,333.8, though recovering 446.1 points from the weakest level of the day. The broader Nifty50 benchmark settled at 16,245.4, down 252.7 points or 1.5 percent from its previous close.
Investors lost Rs 5.6 lakh crore in wealth in three days as the market capitalisation of BSE-listed companies came down to Rs 246.8 lakh crore, according to exchange data.
A recovery in the financial pack -- led by HDFC Bank -- was short-lived. The Nifty Bank failed to stay in the green, managing to recoup only about one third of its intraday loss.
The India VIX -- known in market parlance as the fear index -- finished the day close to 28, having cooled off from a 20-month high of almost 34 as Russia's move to invade Ukraine sent shockwaves across global markets.
Here are some key factors impacting the market now:
Investors closely tracked updates on the Russia-Ukraine war. Ukraine said Russian forces attacked the Zaporizhzhia nuclear plant in the early hours of Friday, setting an adjacent five-storey training facility on fire. Economist Kenneth Rogoff said in an exclusive interview to CNBC-TV18 that the war will only aggravate inflation.
First Published: Mar 4, 2022 3:28 PM IST
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