Markets close lower amid geopolitical tension; Nifty settles below 17,100, Sensex down over 380 pts

22 Feb 2022 , 03:43 PM

Domestic markets closed lower for the fifth consecutive session due to the tumultuous global scenario with the Nifty index declining by 0.7%.

The BSE Sensex ended at 57,300.68, down 382.91 points or 0.66 per cent, while the Nifty 50 settled at 17,092.20, down 114.45 points or 0.67 per cent.

Broader markets underperformed in comparison to the main indices as Nifty Midcap and Small cap lowered by 1% and 2% respectively.

All sectoral indices ended in red with Nifty Media declining the most by 3.3% followed by Nifty Realty (-2.8%) and Nifty PSU Bank (-1.6%).

Tata Steel, BPCL, TCS, SBI Life and Tata Motors drag in the range of 4-3% respectively on the Nifty 50 index, whereas gainers included M&M, Bajaj Finserv, Hero MotoCorp, Eicher Motor and Hindalco.

The rupee declined 36 paise to 74.87 against the US dollar amid a weak risk appetite as tensions escalated in eastern Europe. Besides, sustained foreign fund outflows, a lacklustre trend in domestic equities and elevated crude oil prices weighed on investor sentiment.

Meanwhile, Brent crude prices hit $96.7 per barrel on Tuesday, the highest mark since September 2014, following Russian President Vladimir Putin’s deployment of troops to separatist areas Donetsk and Luhansk in Ukraine.