Benchmarks tumble amid escalating tensions between Russia & Ukraine, Sensex sinks 383 pts

Mumbai: Benchmark BSE Sensex plummeted by nearly 383 points in a volatile trade on Tuesday due to losses in index heavyweights TCS, Reliance Industries and HDFC Bank amid a massive selloffs in global markets triggered by deepening geopolitical tensions.

After sinking about 1,300 points in early deals, the 30-share barometer finally closed lower by 382.91 points or 0.66 per cent at 57,300.68 points. The broader NSE Nifty too reclaimed part of its early losses before closing 114.45 points or 0.67 per cent lower at 17,092.20.

On the Sensex chart, Tata Steel fell the most by 3.64 per cent, followed by TCS (3.59 per cent), and SBI (2.67 per cent).

Dr Reddy's dropped 2 per cent, ITC by 1.44 per cent, Bharti Airtel by 1.39 per cent, and IndusInd Bank by 1.39 per cent. Reliance Industries, HDFC Bank, Axis Bank, HCL Tech, Wipro, HUL, LT and UltraTech were among the losers.

Sectorally, BSE realty index tumbled over 3 per cent, followed by industrials, metal and teck. Of the 19 sectoral indices, 17 closed in the red. Broader smallcap, midcap and largecap indices dropped as much as 1.62 per cent.

Tracking the Ukraine crisis, Brent crude futures rose 4 per cent to $97.35, the highest since September 2014. The rupee depreciated by 29 paise to close at 74.84 against the US currency on Tuesday, ending its five-day

winning run.