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Sensex and Nifty post sixth consecutive day of loss amid lingering Ukraine crisis – Reuters


Bombay, February 23

Market gauges Sensex and Nifty extended their losing streak into the sixth session on Wednesday as Ukraine’s lingering crisis continued to undermine investor sentiment.

The Sensex closed 68.62 points or 0.12% lower at 57,232.06 and the Nifty finished 28.95 points or 0.12% lower at 17,063.25.

For much of the session, both indices traded in positive territory, mostly tracking higher Asian peers as investors hoped Western sanctions against Russia after Moscow’s troop movements near the Ukrainian border could soften the provocative tone of Vladimir Putin and leave some leeway to avoid war.

The Sensex scope was evenly split between wins and losses.

Shares of NTPC, L&T, Nestlé and ICICI Bank fell the most on the index.

Elsewhere in Asia, stocks mostly closed higher on hopes that war in Ukraine can be averted after the United States, Japan and European powers imposed sanctions on Russia.

Shares closed lower on Wall Street on Tuesday after Russia sent forces to eastern regions of Ukraine, which heightened tensions.

Russian President Vladimir Putin has recognized the independence of two rebel-held regions of Ukraine, raising fears of an imminent full-scale invasion.

US Secretary of State Tony Blinken on Tuesday canceled his scheduled meeting with his Russian counterpart Sergei Lavrov later this week to protest what he said was the start of Russia’s invasion of Ukraine.

Brent crude futures were last flat at $96.74 a barrel, after falling from Tuesday’s high of $99.50.

Foreign institutional investors continued their selling frenzy in Indian markets as they dumped shares with a net worth of Rs 3,245.52 crore on Tuesday, according to exchange data.


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