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Markets -free fall  : Opening down due to Ukraine crisis.

Barring TCS, all Sensex stocks in the red

LIC likely to offload 5 %.: Nity slips below 17,000
Sensex falls 1,300 pts, Nifty gives up 17K.
Oil prices jump more than 1% to 7-year highs on supply jitters
On Friday, the Sensex plunged 773 points or 1.31% to 58,153, while the Nifty 50 fell 231 points to 17,375: Indian indices opened in the red on Monday, in line with global peers. Investors were cautious tensions in Ukraine rippled through markets and spurred safe-haven demand. At open, Sensex fell 1,197.86 points to 56955.06, while Nifty was down 2% at 17026.80

Global equities skid at the start of the week as tensions rise over Russia’s military buildup near Ukraine and the US warning an invasion may be imminent. This comes amid high inflation and the prospect of aggressive Federal Reserve interest-rate hikes to tame it.

ABG Shipyard fraud: SBI says no delay in filing of case

Amid allegations of delay in filing of complaint against the country’s biggest bank fraud totaling ₹22,842 crore, State Bank of India (SBI) on Sunday said it has been diligently following the ABG Shipyard fraud case with the CBI following the forensic audit report, the Press Trust of India reported. The Central Bureau of Investigation (CBI) recently booked ABG Shipyard Limited, its former chairman and managing director Rishi Kamlesh Agarwal and others for allegedly cheating a consortium of two dozen lenders led by ICICI Bank.

ABG Shipyard fraud is much higher than the one perpetrated by Nirav Modi and his uncle Mehul Choksi, who allegedly cheated the Punjab National Bank (PNB) of around ₹14,000 crore through issuance of fraudulent Letters of Undertaking (LoUs).

Jio Platforms, Luxembourg’s SES  in JV for satellite-based broadband services

Mukesh Ambani-owned Jio Platforms Ltd, and Luxembourg-based SES, a leading global satellite-based content connectivity solutions provider, on Monday announced setting up a joint venture – Jio Space Technology Ltd. – to deliver next generation scalable and affordable broadband services in India leveraging satellite technology.

Oil prices jump more than 1% to 7-year highs on supply jitters

Oil prices on Monday hit their highest in more than seven years on fears that a possible invasion of Ukraine by Russia could trigger U.S. and European sanctions that would disrupt exports from the world’s top producer in an already tight market.

 

 

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