Share market trims losses but remains flat; here is why
India Today
The benchmark Sensex was flat at 57,981.65 and the Nifty was marginally up at 17,308.60.
The share market on Monday remained volatile, dragged by losses across the board as the Russia-Ukraine standoff continued to dampen risk sentiment.
The benchmark Sensex was flat at 57,981.65 and the Nifty was marginally up at 17,308.60.
In early morning trade, the NSE Nifty 50 was down 0.85 per cent at 17,131.65, while the S&P BSE Sensex fell 0.74 per cent to 57,408.44.
Both indexes have clocked losses of more than 1 per cent in February as simmering tensions over Ukraine and the possibility of monetary tightening by the US Federal Reserve weighed on investor sentiment.
If Monday's losses hold, both the Nifty and Sensex will record their fourth day of declines in a row.
"Russia-Ukraine still remains the backdrop, it has dulled risk appetite and there aren't any cues to help domestic markets higher this morning," said Anand James, chief market strategist at Geojit Financial Services, according to a Reuters report.
"There is a little bit of hesitance going into March, traders at the moment are discouraged from taking heavy bets, and with the Fed's rate decision due in March, its the moment of truth for the markets and one has to wait and see how things will transpire," Anand James said.
