Indian markets are the second worst performers this week in Asia hit by the Russia-Ukraine war

• Benchmark index Sensex slipped almost 3% in the last five trading days as the Russia-Ukraine war continued to get worse.
• However, Taiwan and China’s equity markets were the outliers in the weak market in the last five days.
• Further, analysts expect the market to remain uncertain for some more time thus suggesting investors to stay away from taking aggressive bets in the market in the near term.

Indian markets were the second worst performers in Asia after Hong Kong in the last five trading days because of the risks from the full blown Russia-Ukraine war.

After severe sanctions on Russia after it invaded Ukraine, the latest development on the battlefield is reportedly Russian troops shelling Europe’s largest nuclear power plant in Ukraine. The reports of fire in the power plant, which also reportedly provides more than fifth of total electricity generated in Ukraine, tumbled stocks markets across the world.

According to media reports, thousands of people are killed or wounded and more than 1 million refugees have fled Ukraine since last Thursday as Russia launched the biggest attack on a European state since World War Two.

The Russia-Ukrainian war is an ongoing and protracted conflict that started in February 2014 over geopolitical issues and the situation has now become dangerous now.

Today, Sensex has plunged 2% on negative cues from global markets after a fire broke out in a Ukrainian nuclear plant.

“Going forward, the market is expected to remain uncertain with its wild moves until the geopolitical concerns fade away. Hence, it is advisable to stay light and avoid aggressive bets in these market conditions,” said Sameet Chavan, chief analyst, technical and derivatives at Angel One.

Investor sentiments in the market remain weak due to heightened prices of crude oil and rising inflation in the country spiking prices of essential commodities. “The corporate earnings can take a hit due to this as companies are already facing the pressure of rising input cost. Short term investors and traders should remain cautious as markets are showing extreme volatility. Long term investors should not be worried as these significant dips present a good opportunity to accumulate quality stocks,” said Mohit Nigam, head of portfolio management services (PMS) at Hem Securities.

While Hong Kong and Indian markets were the worst performers, China and Taiwan’s equity markets ended in a positive range in the last five days of the dangerous war between Russia and Ukraine.

SEE ALSO: INTERVIEW: Mobikwik’s Upasana Taku says all the companies that made their grand entry into BNPL will have a grand exit too
Amazon and Future agree to discuss an out of court settlement after nearly 2 years of legal battle