Black Monday | Market turns sharply lower in 2022 as Ukraine-Russia tensions, Fed rate hike weigh

Black Monday | Market turns sharply lower in 2022 as Ukraine-Russia tensions, Fed rate hike weigh

Experts advised investors to be cautious for the time being and to use this opportunity to add quality stocks for healthy returns in the long term







Sunil Shankar Matkar









February 14, 2022 / 07:06 PM IST





Stock Market



It turned out to be another black day for the stock market on February 14 as bears ruled Dalal Street for the second consecutive session, tracking nervousness globally amid tensions between Ukraine and Russia, and expectations of the US Federal Reserve increasing interest rates.

The benchmark stock indices fell 3 percent, the biggest single-day fall since April 12, 2021, following a 1.3 percent loss in the previous session.

The BSE Sensex tumbled 1,747.08 points to close at 56,405.84, and the Nifty 50 plunged 531.95 points to 16,842.80. The benchmark indices turned negative for the year 2022, both losing about 3 percent compared with gains of 22 percent and 24 percent, respectively, in 2021.

Also read: Manic Monday for Indian markets, here are 4 factors for the steep decline

The fear of Russia invading Ukraine rattled the markets globally and sent crude oil prices higher. Brent crude futures, the international benchmark for oil prices, climbed to $96.16 a barrel on