Early morning yesterday, the Russian military launched attacks on several military outposts of Ukraine simultaneously. Several cities like Kharkiv, Kiev and Mauripol were attacked as the Russian forces invaded Ukraine. President Biden claimed Putin to be the aggressor and said that all deaths caused during the invasion were on his hands.
India received calls for help from Ukraine as the government has announced ‘Martial Law’ for a month. President Zelenskyy of Ukraine has asked the citizens of Ukraine to not panic and has urged every trained citizen from the age of 18-60 to come and join the efforts of the Ukrainian military and resist against the Russian invasion. Today morning, the Russian military had managed to secure an airport 10 kms away from the capital city of Kiev.
Nifty 50 fell over 800 points yesterday, almost 4.8%, as investors panicked, which resulted in a panic selling. All shares in Nifty 50 fell as Tata Motors was the biggest loser as it fell 10.28%. The stock had seen a massive gap down opening and it fell further to touch a low of Rs 405.45 per share, a level the stock hadn’t touched since October 2021. Sensex collapsed over 2000 points, nearly 4.7%. Crude oil crossed $100 per barrel as it grew 2.04% and gold touched a high of $1974.40 from an opening price of $1908.10. Cryptocurrencies were affected the worst as Bitcoin touched down to Rs 27,18,038. Several other major cryptocurrencies saw a heavy decline like Ethereum -10%, Doge -18%, Cardano -15% and Solana -12%.
As stated earlier, it was a panic selling which caused such losses the previous day. Nifty 50 recovered 420 points today and Sensex 1376. Tata Motors regained 32 points as it grew 7.8% in early trading hours today. Crude oil currently trades at $101 per barrel as global supply of oil is expected to be affected from the current crisis. Gold trades for $1917. Bitcoin climbed back up as it reached Rs 30,40,820 and other cryptocurrencies saw a strong demand.
Ukraine is begging all the countries for assistance in all fields be it military, humanitarian, micro finance, etc. President Vladimir Putin said in his video message that he will not harm Ukraine if they surrender while Ukraine has refused surrender and continues to put up a resistance. Only time can tell that what will happen as the Russia-Ukraine crisis persists and escalates.
Highlights by Aman Agarwal.