Sensex tumbles 1540 points on oil price surge, Ukraine crisis

The Indian stock markets key indices Sensex and Nifty tumbled more than 2 per cent on Monday as crude oil prices surged to a sevenyear high in the international markets amid intensifying tensions between Ukraine and RussiaThe benchmark Sensex started the Monday trade deep in the red at 5672032 points and slumped to a low of 5661207 points in the morning trade 154085 points down from its previous sessions close at 5815292 pointsAt 1208 pm the 30 stock SampP BSE Sensex was trading at 5699235 points which is 116057 points or 200 per cent lower from its previous sessions closeThe broader Nifty 50 of the National Stock Exchange was trading 36480 points or 21 per cent down at 1700995 points from its previous sessions close at 1737475 pointsThe Nifty started the weeks trade deep in the red at 1707615 points and slumped to a low of 1691655 pointsThe Indian stocks have crumbled tracking the meltdown in the global equities due to deepening tensions between Ukraine and Russia The tensions between these two countries will have huge bearing on crude oil prices Crude oil prices in the international market rose above 95 per barrel the highest level in seven yearsThe Mondays meltdown has resulted in loss of over Rs 6 lakh crore of investors wealth in the Indian equities marketsThere was huge selling pressure in banking and financial stocks HDFC tumbled 381 per cent to Rs 233425 ICICI Bank slumped 360 per cent to Rs 76260 State Bank of India tumbled 357 per cent to Rs 51040Half of the 30 scrips that are part of the Sensex were trading with a loss of more than two per centMaruti Suzuki 350 per cent down at Rs 843460 Tata Steel 355 per cent down at Rs 121020 Kotak Bank 289 per cent down at Rs 177615 IndusInd Bank 285 per cent down at Rs 95485 and Mahindra amp Mahindra 263 per cent down at Rs 83140 were among the major Sensex losersThe Index heavyweight Reliance Industries was trading 134 per cent down at Rs 234490Only two of the 30 Sensex scrips were trading in the positive TCS was trading 122 per cent higher at Rs 374075 and Sun Pharma was trading with a gain of 049 per cent at Rs 884This story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever