Ukraine crisis impact: Sensex drops 1600 points, Oil prices cross 100 dollars mark
Mumbai: After Russia announced a "special military operation" in Ukraine, the Indian stock markets plunged sharply on Thursday as investors turned cautious.
Sensex dropped 1600 points while Nifty slipped below the 16,600 mark.
According to a Reuters report, Brent crude hit a high of 101.34 dollars a barrel in early Asia trade, the highest since September 2014. U.S. West Texas Intermediate (WTI) crude futures jumped 4.22, dollars or 4.6 per cent, to 96.32 dollars a barrel, after rising to as much as 96.51 dollars, also the highest since August 2014.
Oilprice.com, a popular energy news site in the world, predicted that prices of five commodities could be impacted as tensions between Ukraine and Russia reach a boiling point. These five commodities are: Aluminum, Oil, Natural Gas, Copper and Cobalt
President of Russia Vladimir Putin announced a Russian military operation in Ukraine with explosions heard in Kyiv and other parts of the country. Weeks of diplomacy to avert war and sanctions on Russia failed to deter Putin, who has massed over 150,000 troops on the Ukraine border, reports AFP.
