Indian shares fall over 3% as Ukraine tensions escalate
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Indian shares fall over 3% as Ukraine tensions escalate

By Reuters

  • 24 Feb 2022
Indian shares fall over 3% as Ukraine tensions escalate
Credit: Reuters

Indian shares plunged more than 3% on Thursday, as investors fled risk assets after Russian President Vladimir Putin authorised a special military operation in Ukraine's Donbass region.

The blue-chip NSE Nifty 50 index .NSEI was down 2.45% at 16,644.40 by 0346 GMT and the S&P BSE Sensex .BSESNwas 2.55% lower at 55,773.81. Both indexes opened more than 3% lower and were headed for their longest losing run since March 2020, down for a seventh straight session. 

Explosions rocked the breakaway eastern Ukrainian city of Donetsk after Russian President Vladimir Putin authorised a military operation on Thursday in what could be the start of war in Europe over Russia's demands for an end to NATO's eastward expansion.

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In Mumbai, the Nifty Realty index .NIFTYREAL and the Nifty public sector bank index .NIFTYPSU were the top losers, shedding more than 3% each.

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