Stock markets Tuesday saw a sudden sell-off in the fag end of the session, sending key indices down another 1.2 per cent as the intensifying war in Ukraine, Covid and inflation clouded the global economic outlook.
As foreign portfolio investors (FPIs) continued their selling spree, the Sensex dove 1,183 points from the day’s high and settled 703.59, or 1.23 per cent, points down at 56,463.15 and the NSE Nifty fell below the 17,000 level, ending 215 points, or 1.25 per cent, down at 16,958.65.
With this fall, the Sensex has plunged 2,501 points in the last five trading sessions. FPIs sold stocks worth Rs 5,871 crore Tuesday, taking their total outflows to Rs 23,021 crore in April. Global markets were hit after Ukraine on Monday said an offensive push into Donbas has started, with intensified assaults in the country’s north and east.