The share market tumbled three per cent on Thursday as investors dumped risky assets after Russian troops fired missiles at several Ukrainian cities

The blue-chip NSE Nifty 50 index was down 2.43 per cent at 16,649.30 and the S&P BSE Sensex was 2.50 per cent or 1,431.16 lower at 55,800.90. Both indexes were headed for their longest losing run since March 2020, extending falls to a seventh session

RUSSIA-UKRAINE WAR IMPACT "The looming risk of this crisis is no more there, it is a reality today," said Aishvarya Dadheech, a fund manager at Ambit Asset Management in Mumbai

"We have seen historically that with a crisis like this, the worst possible impact would be the drive in commodity prices, which for India will be on the adverse side as it could take inflation higher," Aishvarya Dadheech said

WHAT IS AHEAD? Nifty's volatility index, which indicates the degree of volatility traders expect over the next 30 days in the Nifty 50, climbed to its highest since June 2020

Oil breached $100 a barrel for the first time since 2014 as concerns grew that a war in Europe could disrupt global energy supplies

India is the world's third-largest importer of oil, and high global prices percolate through the economy and hurt consumers

Nifty's major sub-indexes were in negative territory, with the Auto index .NIFTYAUTO, the public sector bank index .NIFTYPSU and the energy index .NIFTYENR shedding more than 3 per cent each.

Closing bell BSE Sensex tumbled 4.7 per cent or 2,702 points to end at 54,530, while Nifty 50 index plunged 815 points or 4.8 per cent  to finish trade at 16248 and Bank Nifty was down 5.8% while India VIX zoomed 30.32%.

Among individual stocks, cell tower firm Indus Towers Ltd INUS.NS plunged as much as 14.4 per cent, after Britain's Vodafone Group Plc VOD.L said it was looking to sell its entire 28.1 per cent stake in the company