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Indices fall for 5th day; Sensex cracks 703 pts, Nifty gives up 17,000

CLOSING BELL: Reliance Industries (RIL; up 3.5 per cent) was the top gainer on the 30-pack index. he draggers on the index were HDFC (down 6 per cent), HDFC Bank (down 4.2 per cent)

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SI Reporter  | New Delhi 

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CLOSING BELL

A sudden sell-off during the fag-end of the session drove the down for a fifth straight day on Tuesday. Domestic and global were hit hard today after Ukraine said on Monday that a long-expected offensive push into the Donbas region in eastern Ukraine has started, with intensified assaults in the north and east of the country.

The benchmark S&P plunged 1,183 points from the day's high and settled 703 points down at 56,463 levels. The index had hit an intra-day low of 56,009 level.  

The Nifty50, on the other hand, broke below the psychological level of 17,000 and ended at 16,959, down 215 points. Both the indices slipped 1.2 per cent each.

Reliance Industries (RIL; up 3.5 per cent) and ICICI Bank (up 0.16 per cent) were the only gainer on the 30-pack index. The draggers on the index were HDFC (down 6 per cent), HDFC Bank (down 4.2 per cent), ITC, Tech M, Infosys, Nestle India, and HCL Tech.

In the broader markets, the MidCap and SmallCap indices declined up to 1.2 per cent. Sectorally, the Realty, FMCG, and IT indices slipped 3.5 per cent each, followed by the Financial Services index (down 2.5 per cent).

Global markets
European stocks were lower on Tuesday, with investors' attention focused on the latest developments in the war between Russia and Ukraine. The pan-European Stoxx 600 slid 0.8 per cent in early trade. On Wall Street, futures linked to all the main three indices were down between 0.14 per cent and 0.4 per cent.

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