Market Closing: In the midst of the current Russia-Ukraine conflict, Indian equity indices fell for the fourth consecutive session on Monday. The benchmark BSE Sensex fell 1,491 points, or 2.74 percent, to 52,843 points, while the broader NSE Nifty down 382 points, or 2.35 percent, to 15,863.
As crude oil prices climbed beyond $130 a barrel, the highest level since July 2008, investors grew concerned, raising fears of greater domestic inflation.
Oil prices surged as the US and its European allies discussed imposing a ban on Russian oil imports. India currently imports more than two-thirds of its oil, and rising costs exacerbate the country's trade and current account deficits, as well as depreciate the rupee and fuel inflation.
The majority of the National Stock Exchange's sector indices ended the day in the red. By losing 4.47 percent, 4.28 percent, and 4.21 percent, respectively, Nifty Bank, Nifty Financial Services, and Nifty Auto lagged the index. Nifty Metal, on the other hand, increased by 2.10 percent.
IndusInd Bank was the largest Nifty loser, falling 8.14 percent to RS 828.50. Among the laggards were Maruti Suzuki India, Axis Bank, Britannia Industries, and Bajaj Finserv.
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