Sensex plunges 778 points on escalating Russia-Ukraine tensions

Mumbai: BSE benchmark Sensex plummeted 778 points to close below the 55,500-level on Wednesday following a broad-based selloff in global markets as the Russia-Ukraine crisis escalated.

The 30-share BSE index ended 778.38 points or 1.38 per cent lower at 55,468.90. Similarly, the NSE Nifty plunged 187.95 points or 1.12 per cent to 16,605.95.

Maruti was the top loser in the Sensex pack, shedding 6 per cent, followed by Dr Reddy's, Asian Paints, ICICI Bank, HDFC and HDFC Bank.

On the other hand, Tata Steel, Titan, Reliance and Nestle India were among the gainers.

In other Asian markets, bourses in Hong Kong, Tokyo and Shanghai ended with losses, while Seoul closed in the green.

Stock exchanges in Europe were trading mixed in afternoon trade.

Tracking the Ukraine crisis, Brent crude futures rose 5.09 per cent to USD 110.31 per barrel.

US President Joe Biden announced that the United States is closing its airspace to Russian planes, asserting that this along with other punitive measures would weaken Moscow.

The US and EU have imposed various sanctions on Russia. These include curbs on Russia's biggest banks and excluding its financial institutions from the SWIFT global payments system.

Continuing their selling spree, foreign institutional investors sold shares worth Rs 3,948.47 crore in the Indian capital market on Monday, exchange data showed.