Nifty, Sensex will fall due to Ukrainian-Russian tension intensifying
The domestic equity index tended to be open lower for the fifth consecutive session on February 22 after tensions between Ukraine and Russia intensified after a fiery speech by Russian President Vladimir Putin.
Putin’s old speech ended with the signing of a decree that immediately recognized the independence of two separatist regions in Ukraine, which was dominated by Russian-speaking people.
Putin’s confession of Breakaway countries took immediate sanctions on Russia from the Foreign Minister Latvia Edgar Rinkevics.
“Recognition of the separatist two regions in Ukraine is a violation of the international law, the integrity of the Territorial of Ukraine and Minsk Agreement. The EU and its partners will react with unity, firmness and determination in solidarity with Ukraine,” Ursula Von Der Layen, President Commission President said in a tweet.
Russian Moex index, benchmarks for the country’s stock market, dropped more than 10 percent in the worst Rout for shares since the global financial crisis while Russian ruble sank more than 2 percent because investors fear further economic pressure if we impose sanctions.
Globally, equity in the US and Europe ended lower due to increased tensions between Russia and Ukraine and the prospect of military confrontation. Brent crude futures jumped more than 3 percent to cross the $ 96 per barrel.
Tensions between two Eastern European countries have boiled over the past few weeks with Russia see it is possible to make it possible in Ukraine in the Organization of the North Atlantic Agreement as a security threat.
Putin claims that Ukraine can develop nuclear weapons that have risks Russia and that Russia has “the right to take revenge steps”.
Futures from the Nifty 50 index traded in Singapore exchange fell 0.42 percent or 71.50 points at 17,056.50 points.
