BSE Sensex decline amid escalating tensions between Ukraine and Russia

Written by fe Bureau | Mumbai | Updated: Mar 14 2014, 17:53pm hrs
BSE SensexBSE Sensex, which had lost 81.61 points yesterday, fell by another 144.44 points to 21,630.17 in early trade.
Benchmark indices declined on Friday as Russian troops launched new military exercises near Ukraine's border on Thursday. The benchmark BSE Sensex was trading 124.83 points or 0.57% lower at 21,649.78 points, while the NSE Sifty was trading 0.68% or 44.40 points lower at 6,448.70 points at 11.00 am IST.

Meanwhile, the weak Chinese output data put further pressure on the Asian markets. The Nikkei (-3.52%), Hang Seng (-1.30%), Kospi (-0.45%), Straits Times (-0.49%) and Shanghai Composite (-0.94%) were trading lower.

Experts expect volatile session ahead of the wholesale price index (WPI) inflation data. "Heightened volatility can be expected as the data on inflation based on the wholesale price index (WPI) for February is due on Friday," Standard Chartered Securities said in its morning note. "Positive momentum is likely to continue as long as the Nifty holds 6350 level. Nifty may touch 6800 in the medium term," it added.

Among sectoral indices, the BSE Bankex (-1.99%), BSE Capital Goods (-1.28%) and BSE Realty (-1.40%) were the major losers.

Among individual stocks, Axis Bank (-2.48%), ICICI Bank(-2.22%) and Bharti Airtel (-2.09%) were the major losers on the 30-share Sensex.