Sensex, Nifty Extend Losses For Fifth Day
(RTTNews) - Indian shares ended lower for the fifth straight session on Tuesday despite seeing much intraday recovery.
Geopolitical tensions and rising oil prices roiled markets, leading to a sell-off across all sectors.
Crude oil hit a seven-year high after Russia recognized two Ukrainian separatist regions - Donetsk and Luhansk - as sovereign states and ordered troops into the territory as "peacekeepers", accelerating a crisis the West fears could unleash a major war.
The moves drew U.S. and European condemnation and vows of new financial and economic sanctions during a UN Security Council meeting.
The 30-share BSE Sensex ended the session down 382.91 points, or 0.66 percent, at 57,300.68, after having tanked as much as 1,289 points to 56,394.85 earlier in the day.
The broader NSE Nifty index Nifty fell 363 points to hit an intraday low of 16,843.80 before finishing down 114.45 points, or 0.67 percent, at 17,092.20. The intraday recovery came as European shares cut early losses in a volatile session.
Tata Motors, SBI Life, TCS, BPCL and Tata Steel fell 3-4 percent in the Nifty pack, while Hindalco, Eicher Motors, Hero MotoCorp, Bajaj FinServ and Mahindra & Mahindra rose 1-2 percent.
