Sensex Falls Nearly 400 Points Driven By Russia’s Plan To Cut Gas Supply To Eastern Europe

Indian benchmark indices fell on Tuesday as global economic growth fears pushed flight-to-safety trades and a rout in US stocks from news of a cut in Russian gas supplies to Eastern Europe had added to the sombre mood.

The 30-share BSE Sensex 30-share index fell nearly 400 points to about 56,960 and the broader NSE Nifty slipped nearly 1 per cent to below 17,100 in early trade exchanges.

In the previous session, the Sensex index had jumped nearly 800 points to around 57,356, while the Nifty rose almost 1.5 per cent to about 17,200, after both the indexes had declined over 1 per cent on Monday.

The catalysts for the latest declines “were yet more bellicose words from Russia over Ukraine, and the announcement that Bulgaria and Poland would see their gas supplies from Russia shut off from today,” ING said in a note.