The domestic stock market has been declining for the past few days. Russia’s attack on Ukraine sent shockwaves through the stock market on Thursday. The stock market saw its fifth major one-day fall on Thursday. The sharp fall in the market has had a direct impact on the stocks of Mukesh Ambani’s Reliance Industries (RIL) and Gautam Adani-owned Adani Group. Reliance Industries’ market cap has declined by Rs 1.1 lakh crore in the last seven trading sessions due to the decline in the market that started on February 15. Meanwhile, the market cap of Adani Group stocks has declined by Rs 66,000 crore in the last seven sessions. This is stated in a report of Economic Times.
Oil above Doller 105 for the first time since 2014
Oil prices rose sharply on Thursday. For the first time since 2014, Brent crude reached above 5 105 a barrel. Brent crude rose 8.5 percent to 5 105.08 a barrel on Thursday. Concerns over global energy supplies have grown since Russia’s invasion of Ukraine. Analysts believe that Brent prices could remain above डॉलर 100 a barrel as long as there is not enough alternative supply from OPEC, US Shell or Iran.
Pharma Exporters in Weight and Watch mode
Indian pharma exporters are on wait and watch mode (keeping an eye on the whole situation while waiting) after Russia invaded Ukraine. Sources close to the industry have said that they are in wait and watch mode for dispatching fresh orders to some CIS countries besides these two countries (Russia and Ukraine). India exported 1 181 million worth of pharmaceutical goods to Ukraine in FY2021. In the last financial year, का 591 million worth of pharma was exported to Russia.
Fifth major one-day fall in the Sensex
The Bombay Stock Exchange (BSE) index Sensex fell by 2702.15 points on Thursday. This is the fifth major fall in the Sensex in a single day. Earlier, on March 23, 2020, the Sensex had declined by 4,035.13 points. Meanwhile, on March 13, 2020, the Sensex had declined by 3,389.17 points. While on March 12, 2020, the Sensex had declined by 3,204.3 points. On March 16, 2020, the Sensex had tumbled 2,827.18 points. This is stated in a report of MoneyControl quoting AceEquity.
