As Russia’s invasion of Ukraine continued, markets fell on Monday, sending oil prices higher.
The benchmark Sensex index ended the session at 57,292 down 571 points, or 0.9 percent. Nifty ended the session at 17,117, down 169 points.
Indian stock markets, like their global peers, have been volatile in the past month since Russia began its invasion of Ukraine.
It fell as much as 8 percent at the start of the month before all losses were offset amid a dip in selling by foreign investors.
However, foreign portfolio investors (FPIs) ramped up their sales again, withdrawing nearly Rs 3,000 crore on Monday. Local institutional investors bought shares worth Rs 253 crore.
Brent crude prices rose for the third consecutive day and hovered around $115 a barrel. Domestic markets have shown vulnerability to higher crude oil prices with India being a large importer of crude oil.
A combination of Russia-Ukraine peace talks, government election results and a bargain hunt helped stock markets rebound as much as 10 per cent from March lows.
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