Sensex closes 383 points down amid escalations in Ukraine-Russia tension

Mumbai (Maharashtra) [India], February 22 (ANI): The Indian stock markets key indices closed in the red for the fifth consecutive session on Tuesday with Sensex sliding 383 points on negative cues from the global equities amid reports of escalations in Ukraine-Russia tensions.
The 30 stock S&P BSE Sensex closed 382.91 points or 0.66 per cent down at 57,300.68 points.
The markets witnessed heavy selling pressure in early trade. The Sensex started the day with a loss of 1,244.95 points at 56,438.64 points from its previous day's close at 57,683.59 points. The Sensex slumped to a low of 56,394.85 points and a high of 57,505.85 points in the intra-day.
The index recovered 906 points from its day's low. The index recouped part of the losses due to buying support in select stocks in the last hour of the trade.
The broader Nifty 50 of the National Stock Exchange closed 114.45 points or 0.67 per cent down at 17,092.20 points against its previous day's close at 17,206.65 points.
The Nifty opened deep in the red at 16,847.95 points and slumped to a low of 16,843.80 points in the intra-day. The Nifty also recovered in the last hour of the trade. It rose to a high of 17,148.55 points in the intra-day.
The Indian equities markets have come under heavy selling pressure tracking weakness in major indices across the world on escalations in tensions between Russia and the United States and major European countries over the Ukraine issue.
The United States and its European allies are set to impose new sanctions on Russia after President Vladimir Putin formally recognised two breakaway regions in eastern Ukraine. The move is likely to further escalate the tensions in the region.
Tata Steel plunged 3.64 per cent to Rs 1138.45. TCS slumped 3.59 per cent to Rs 3586.65. State Bank of India tumbled 2.67 per cent to Rs 498.20.
Dr Reddy's Laboratories 2.02 per cent down at Rs 4210.50; ITC 1.44 per cent down at Rs 214.95; Bharti Airtel 1.39 per cent down at Rs 699.90; IndusInd Bank 1.39 per cent down at Rs 939.30 and HCL Technologies 1.38 per cent down at Rs 1148.95 were among the major Sensex losers.
Ten of the 30 Sensex scrips closed in the positive. Bajaj Finserv soared 1.36 per cent to Rs 16222.30. Mahindra & Mahindra 1.34 per cent higher at Rs 852.30; Kotak Bank 0.85 per cent higher at Rs 1841.85; HDFC 0.62 per cent higher at Rs 2454.05 and Sun Pharma 0.37 per cent higher at Rs 846.05 were among the major Sensex gainers. (ANI)