PremiumAnand Mahindra said that while the physical battle may take place in one country, the political, economic, cyber, social media and commodity resource battles have ensued globally
| Listen to this article |
Mahindra Group chairperson Anand Mahindra today commented on the bloodbath in the Indian markets triggered by the Russia-Ukraine conflict. Mahindra said that while the physical battle may take place in one country, the political, economic, cyber, social media and commodity resource battles have ensued globally.
“This isn’t surprising because the world is effectively at War. The physical battle may be in one country, but the political, economic, cyber, social media & commodity resource battle lines have been drawn & are global. Welcome to World War in the 21st century," tweeted Anand Mahindra.
Amid the Russia-Ukraine crisis, Sensex and Nifty tumbled nearly 3 per cent in opening trade on Monday tracking weak global markets and elevated oil prices
Extending its downtrend for the fourth straight session on Monday, the 30-share BSE Sensex opened on a weak note and slumped 1,620.73 points or 2.98 per cent to 52,713.08. Similarly, the broader NSE Nifty tanked 447.05 points or 2.75 per cent and slipped below the 16,000 level to 15,798.30.
The price of oil jumped more than $12 a barrel as the conflict in Ukraine deepened amid mounting calls for harsher sanctions against Russia. Brent crude oil surged more than 10%, while benchmark U.S. crude was up $10 at more than $125 a barrel.
Meanwhile, Russia announced a ceasefire starting Monday morning and the opening of humanitarian corridors in several areas.
Amidst the ongoing conflict between Ukraine and Russia, Prime Minister Narendra Modi will speak to both Ukrainian president Volodymyr Zelensky and Russian President Vladimir Putin on Monday, Government of India sources said. PM Modi has spoken to both the leaders twice, since the beginning of the conflict on February 24 when Russia launched a special military operation on Ukraine.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!