Bloodbath at markets after Russia declares war on Ukraine

The stock market in India spiralled out of control and crashed by over 2000 points moments after Russian President Vladimir Putin declared war against Ukraine on Thursday morning. 

Market frenzy was visible in the pre-open session itself with indications that there could be a heavy sell-off today. The BSE Sensex was down more than 1,800 points or 3.15 per cent, in the pre-open session. NSE Nifty was also down by more than 500 points. 

As soon as the market opened, the Sensex tanked by over 1300  points. After the market opened in the morning, Sensex was trading around 55,750 points. Nifty had fallen more than 350 points to below 16,700. 

Same story across other markets

Markets across Asia were taking a massive hit since the Russian president's announcement.

In Japan, the Nikkei 225 shed 1.09 per cent while the Topix slid by 0.71 per cent.

South Koream Kospi dropped 2.62%. The Bank of Korea has projected that Consumer Price Inflation or CPI will be substantially over 3 per cent for a considerable time.

China's Shanghai composite fell by 0.83 per cent while the Shenzhen component dropped 1.37 per cent.

Australia's S&P/ASX 200 was down 3.2 per cent.