Indian equity markets faced a sharp decline in early trade on November 28, with the Nifty falling over 150 points and the Sensex shedding more than 500 points. The sell-off comes amid escalating geopolitical tensions after Russia launched a massive missile and drone assault on Ukraine, targeting critical energy infrastructure.
Geopolitical Developments:
- Russia’s attack caused significant damage to Ukraine’s power grid, with emergency blackouts implemented across multiple regions by Ukrenergo, the state grid operator.
- Explosions were reported in major cities, including Kharkiv, Odesa, Lutsk, and Rivne, following the launch of seven Tu-95 strategic bombers.
- Ukraine’s Energy Minister Herman Halushchenko described the assault as a “massive blow,” while President Volodymyr Zelensky highlighted the surge in Russia’s aerial campaigns over the past week.
Broader Implications:
- The attack has heightened tensions globally, triggering an emergency NATO-Ukraine Council meeting and renewed calls for advanced air defense systems from Western allies.
- Markets worldwide are reacting to the uncertainty, with fears of further escalation impacting investor sentiment.
Market Impact:
- Nifty 50: Fell sharply by over 150 points within minutes, reflecting a 0.64% decline.
- Sensex: Dropped by 644 points, trading at 79,589.78, down 0.80%.
Investors are closely monitoring the situation, as prolonged geopolitical instability could further dampen global economic recovery and market performance.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Always consult a financial advisor before making investment decisions.
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