<p>Benchmark equity index Sensex plunged by over 1,500 points to slip below 57,000 in early trade on Monday. Other than TCS, all other counters in the BSE Sensex 30-share index were in the red.</p>.<p>Meanwhile, Nifty dived over 450 points to below 17,000 at the opening session.</p>.<p>HDFC, Tata Steel and State Bank of India (SBI) were down by over 3 per cent in early trade.</p>.<p>The markets, dragged down by banking stocks, were down as investors globally fretted over escalating tensions between Russia and the West over Ukraine.</p>.<p>"Russia has increased the number of troops on the borders of Ukraine despite denying any plans to invade Ukraine. Some western countries have issued warnings that Russia could take the military action and may start bombing any time. Markets have taken this escalated situation of Russia and Ukraine conflict harshly and reacted negatively," Gaurav Garg, Head of Research at CapitalVia Global Research told <em>DH</em>.</p>.<p>There is some sentimental impact of the bank fraud issue of ABG group on banking stocks but it doesn't have a material impact as it is already part of NPA, says Parth Nyati, Founder, Tradingo. </p>.<p>“Technically, Nifty is trading near-critical demand zone of 17,000-16,800, and the 'buy on dip' texture will be continued till Nifty trades above 16,800 level its 200-DMA however there are multiple resistances on the upside till 17,650 where 17,300-17,500 are immediate hurdles. There are no worries till Nifty trades above the 16,800 level but if Nifty slips below 16,800 then things may become ugly”, says Nyati.</p>.<p>Meanwhile, state-run Life Insurance Corp of India filed draft papers with the market regulator on Sunday to sell 5 per cent of its shares to potentially raise nearly $8 billion, dwarfing the biggest IPO in Asia's third-largest economy by a considerable margin.</p>.<p>India is expected to release inflation data for January later in the day.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>Benchmark equity index Sensex plunged by over 1,500 points to slip below 57,000 in early trade on Monday. Other than TCS, all other counters in the BSE Sensex 30-share index were in the red.</p>.<p>Meanwhile, Nifty dived over 450 points to below 17,000 at the opening session.</p>.<p>HDFC, Tata Steel and State Bank of India (SBI) were down by over 3 per cent in early trade.</p>.<p>The markets, dragged down by banking stocks, were down as investors globally fretted over escalating tensions between Russia and the West over Ukraine.</p>.<p>"Russia has increased the number of troops on the borders of Ukraine despite denying any plans to invade Ukraine. Some western countries have issued warnings that Russia could take the military action and may start bombing any time. Markets have taken this escalated situation of Russia and Ukraine conflict harshly and reacted negatively," Gaurav Garg, Head of Research at CapitalVia Global Research told <em>DH</em>.</p>.<p>There is some sentimental impact of the bank fraud issue of ABG group on banking stocks but it doesn't have a material impact as it is already part of NPA, says Parth Nyati, Founder, Tradingo. </p>.<p>“Technically, Nifty is trading near-critical demand zone of 17,000-16,800, and the 'buy on dip' texture will be continued till Nifty trades above 16,800 level its 200-DMA however there are multiple resistances on the upside till 17,650 where 17,300-17,500 are immediate hurdles. There are no worries till Nifty trades above the 16,800 level but if Nifty slips below 16,800 then things may become ugly”, says Nyati.</p>.<p>Meanwhile, state-run Life Insurance Corp of India filed draft papers with the market regulator on Sunday to sell 5 per cent of its shares to potentially raise nearly $8 billion, dwarfing the biggest IPO in Asia's third-largest economy by a considerable margin.</p>.<p>India is expected to release inflation data for January later in the day.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>
