The Indian equity indices plunged sharply on Thursday as investors turned cautious after Russia announced a military operation in Ukraine. Russian President Vladimir Putin authorised a special military operation in Ukraine's Donbass region.
Also, Crude oil jumped over $105 a barrel for the first time since 2014 amid the Ukraine crisis.
The markets couldn’t absorb the shock. A massive sell-off that started in Asian markets spilled over to India and other indices. A reign of panic led the volatility index in india, which is also known as the fear index, surge by 30 percent to a 20-month high.
Nifty tanked 4.78 percent to 16,247.95 while Nifty Bank plunged 5.79 percent to 35228.10
