Sensex tumbles 2,702 points after Russia invades Ukraine; Nifty ends below 16,300

Sensex tanked over 2,702.15 points to end at 54,529.91, while Nifty slumped 815.30 points to 16,247.95 in line with global market meltdown after Russian President Vladimir Putin authorised a special military operation in Ukraine's Donbass region.

The 30-share BSE gauge plunged about 2,850 points before closing at 54,529.91, registering a massive fall of 2,702.15 points or 4.72 per cent.

Likewise, the NSE barometer Nifty nosedived 815.30 points or 4.78 per cent to end at 16,247.95.

On the Sensex chart, all 30 shares suffered heavy losses, with IndusInd Bank, M&M and Bajaj Finance shedding as much as 8 per cent.

Stocks the world over plunged and oil prices surged by more than USD 5 per barrel amid intensifying Ukraine crisis, which experts believe may roil the global economy.

Prices of precious metals like gold and silver accelerated on Thursday after Russia declared war on Ukraine. Market benchmarks in Europe and Asia fell by as much as 4 per cent.

Brent crude oil jumped above USD 100 per barrel for the first time since 2014 on unease about possible disruption of supplies from Russia.

"Ukraine is under attack from Russian forces. The threat of severe sanctions on Moscow is now at its highest level, sending equity markets tumbling globally. Sentiment is driving market direction, which will lead to a large sell-off…," said Leonardo Pellandini, Equity Strategy, Julius Baer.

Explosions rocked the breakaway eastern Ukrainian city of Donetsk after Russian President Vladimir Putin authorised a military operation on Thursday in what could be the start of war in Europe over Russia's demands for an end to NATO's eastward expansion. Putin called on Ukrainian soldiers to immediately lay down their weapons and go home, and said the responsibility for any bloodshed will be on the conscience "of the Ukrainian regime" according to comments carried by Russian news agencies.