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Effect of RUSSIA-UKRAINE WAR on India from different Aspects

Effect of RUSSIA-UKRAINE WAR on India from different Aspects

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Updated on: 24-Feb-2022
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As Russia declared war against Ukraine, the impact of the same could be seen on the markets.

IMPACT ON RUSSIAN MARKET

The Moscow stock exchange on Thursday suspended operations after Russian President Vladimir Putin declared war against Ukraine. The exchange did not announce any time frame for resumption of operations.

The operations on the Moscow stock exchange or Moex were halted indefinitely following a 14.2% drop since Monday, the biggest single day fall since 2014.

Ruble, the official currency of the Russian Federation, fell by 3.5% after Russia's invasion of Ukraine. Meanwhile, Asian currencies and stocks were battered on Thursday with shares in Singapore and India losing about 3% as Russian attacks on Ukraine spoiled investors' appetite for risk.

International crude oil breached $100 a barrel for the first time since 2014, making palm a more attractive option as biodiesel feedstock.

IMPACT ON INDIAN MARKET

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The share market plunged more than 3% in early morning trade on Thursday, as investors fled risk assets after Russian President Vladimir Putin declared war against Ukraine.

The blue-chip NSE Nifty 50 index was down 3.24% or 552.95 points at 16,510.30 and the S&P BSE Sensex was 3.28% or 1,874.56 points lower at 55,357.50. Both indexes opened more than 3% lower and were headed for their longest losing run since March 2020, down for a seventh straight session.

Explosions rocked the breakaway eastern Ukrainian city of Donetsk after Russian President Vladimir Putin authorized a military operation on Thursday in what could be the start of war in Europe over Russia's demands for an end to NATO's eastward expansion, according to a report.

In Mumbai, the Nifty Realty index .NIFTY REAL and the Nifty public sector bank index .NIFTY PSU were the top losers, losing more than 3% each.

Russia-Ukraine War Image

As Ukraine and Russia start the war, prices of essential commodities are likely to rise in India.

Tremors of the Russia-Ukraine crisis are likely to be felt by the aam aadmi in India as costs of essential commodities are set to rise. While tensions between Russia and Ukraine increase, the global economy is on tenterhooks. From natural gas to wheat, experts believe that prices of multiple commodities will increase in the near future.

On Thursday, Russian President Vladimir Putin ordered an invasion of Ukraine. He said that it was aimed at 'demilitarization' of Ukraine and added that Moscow does not plan to occupy Ukraine.

Here’s what is likely to be impacted in the days to come:

PRICE OF NATURAL GAS TO RISE

The Ukraine-Russia crisis has pushed Brent crude oil price to $96.7 per barrel, the highest it has been since September 2014.

Russia is one of the biggest producers of crude oil. The current crisis can lead to prices shooting up to more than $100 per barrel in the days to come. An increase in crude oil price will have a spillover impact on global GDP.

Analysis by JP Morgan notes that a spike in oil prices to $150 a barrel would reduce global GDP growth to just 0.9%. Crude oil-related products have a direct share of over 9% in the Wholesale Price Index (WPI) basket. An increase in Brent crude prices, hence, will increase India's WPI inflation by around 0.9%.

According to experts, the price of domestic natural gas (CNG, PNG, electricity) could increase tenfold now the war has started.

LPG, KEROSENE SUBSIDY WILL INCREASE

Crude_oil

The rise in crude oil prices is expected to increase the subsidy on LPG and kerosene.

PETROL, DIESEL PRICES WILL RISE

In the past, high crude oil prices have contributed to the increase in petrol and diesel prices across the country. India witnessed record highs in terms of fuel prices in 2021.

If the Russia-Ukraine crisis continues to simmer, India could see an increase in petrol-diesel prices.

Oil consists of about 25% of India’s total imports. India imports more than 80% of its oil requirement. A rise in oil prices will impact the current account deficit.

FOOD (WHEAT) PRICES WILL RISE

If there is an interruption in the flow of grain from the Black Sea region, experts fear it could have a major effect on prices and fuel food inflation.

Russia is the world's top wheat exporter while Ukraine is the fourth largest exporter of wheat. The two nations account for nearly a quarter of total worldwide exports of wheat.

According to a recent United Nations report, food prices have already climbed to their highest level in more than a decade largely because of the impact of the pandemic on food supply chains.

The days to come could see volatility spikes in energy and food prices. The resultant investor sentiment could threaten investment and growth in economies around the world.

PRICE OF METALS WILL RISE

The price of palladium, a metal used in automotive exhaust systems and mobile phones, has soared in recent weeks amid fears of sanctions being imposed on Russia. The country is the world’s largest exporter of palladium.

Ukraine's share to world supply
Effect of RUSSIA-UKRAINE WAR on India from different Aspects

Effect of RUSSIA-UKRAINE WAR on India from different Aspects

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Updated on: 24-Feb-2022
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356 views

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356 views

As Russia declared war against Ukraine, the impact of the same could be seen on the markets.

IMPACT ON RUSSIAN MARKET

The Moscow stock exchange on Thursday suspended operations after Russian President Vladimir Putin declared war against Ukraine. The exchange did not announce any ti...

Airtel Launches Rs 9 Unlimited Data Plan with Limitations

Airtel Launches Rs 9 Unlimited Data Plan with Limitations

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Updated on: 21-Jun-2024
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Airtel has introduced a Rs 9 prepaid plan offering unlimited data for one hour, but with a catch. The plan includes a Fair Usage Policy (FUP) limit of 10GB, after which speeds reduce to 64kbps. This pack is ideal for users needing a quick data boost without voice benefits. It’s available via the Airtel website and contrasts with the Rs 129 plan, which provides over 10GB of data with longer validity. Airtel also recently extended the validity of its Rs 395 plan from 56 to 70 days, while maintaining other benefits.

Airtel Launches Rs 9 Unlimited Data Plan with Limitations

Airtel Launches Rs 9 Unlimited Data Plan with Limitations

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Updated on: 21-Jun-2024
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1,478 views

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1,478 views

Airtel has introduced a Rs 9 prepaid plan offering unlimited data for one hour, but with a catch. The plan includes a Fair Usage Policy (FUP) limit of 10GB, after which speeds reduce to 64kbps. This pack is ideal for users needing a quick data boost without voice benefits. It’s available via the...

Realme Buds Air 6 Pro Launched in India: Key Features and Price

Realme Buds Air 6 Pro Launched in India: Key Features and Price

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Updated on: 21-Jun-2024
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Realme has launched the Buds Air 6 Pro in India at Rs 4,999, available from June 27th on Flipkart and Realme’s website. Offered in Titanium Twilight and Silver Blue, these earbuds feature up to 50dB active noise cancellation, 40-hour battery life, dual drivers (6mm and 11mm woofer), and 360-degree Spatial Audio. Additional highlights include a 4000Hz ultra-wideband noise cancellation, 55ms low latency, LDAC Audio Codec, and IP55 water and dust resistance. They support Bluetooth v5.3, Google Fast Pair, and dual device connectivity.

Realme Buds Air 6 Pro Launched in India: Key Features and Price

Realme Buds Air 6 Pro Launched in India: Key Features and Price

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Updated on: 21-Jun-2024
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1,964 views

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1,964 views

Realme has launched the Buds Air 6 Pro in India at Rs 4,999, available from June 27th on Flipkart and Realme’s website. Offered in Titanium Twilight and Silver Blue, these earbuds feature up to 50dB active noise cancellation, 40-hour battery life, dual drivers (6mm and 11mm woofer), and 360-degre...

Google Pixel 9 Pro XL Key Specifications Revealed on Geekbench

Google Pixel 9 Pro XL Key Specifications Revealed on Geekbench

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Updated on: 21-Jun-2024
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The Google Pixel 9 Pro XL has appeared on Geekbench, scoring 1378 in single-core and 3732 in multi-core tests. It features 16GB RAM and runs on Android 14. Powered by an octa-core processor, likely the upcoming Google Tensor G4 chipset, the phone includes four cores at 1.95GHz, three at 2.60GHz, and one at 3.10GHz. Despite scores trailing behind the Pixel 8 Pro, the Pixel 9 Pro XL marks the return of the XL branding and is expected to debut in October 2024 with a flat display and horizontal rear camera strip.

Google Pixel 9 Pro XL Key Specifications Revealed on Geekbench

Google Pixel 9 Pro XL Key Specifications Revealed on Geekbench

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Updated on: 21-Jun-2024
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The Google Pixel 9 Pro XL has appeared on Geekbench, scoring 1378 in single-core and 3732 in multi-core tests. It features 16GB RAM and runs on Android 14. Powered by an octa-core processor, likely the upcoming Google Tensor G4 chipset, the phone includes four cores at 1.95GHz, three at 2.60GHz,...

Samsung Galaxy Watch Ultra Confirmed

Samsung Galaxy Watch Ultra Confirmed

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Updated on: 21-Jun-2024
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The Samsung Galaxy Watch Ultra has been officially confirmed via a support page on Samsung Canada's website. Expected to launch on July 10th during the Galaxy Unpacked event, the watch will feature a unique design, LTE support, and a 47mm size. It will be available in White and Dark Grey, with a Titanium Grade 4 chassis, sapphire crystal glass display, and up to 300 nits peak brightness. The watch might also be water-resistant up to 100 meters. In the US, the Galaxy Watch Ultra could be priced between $699 and $710.

Samsung Galaxy Watch Ultra Confirmed

Samsung Galaxy Watch Ultra Confirmed

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Updated on: 21-Jun-2024
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2,819 views

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2,819 views

The Samsung Galaxy Watch Ultra has been officially confirmed via a support page on Samsung Canada's website. Expected to launch on July 10th during the Galaxy Unpacked event, the watch will feature a unique design, LTE support, and a 47mm size. It will be available in White and Dark Grey, with a ...

OnePlus Ace 3 Pro Price and India Launch Status: What We Know

OnePlus Ace 3 Pro Price and India Launch Status: What We Know

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Updated on: 21-Jun-2024
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The OnePlus Ace 3 Pro is expected to arrive in China at a starting price of roughly Rs 34,000, with a potential Collector's Edition. It might bridge the pricing gap between the OnePlus 12R and the OnePlus 12, featuring premium features such as a Snapdragon 8 Gen 3 processor and a 6,100mAh battery with Glacier Battery innovation.

Also Read: Infinix Note 40 Launch: Specs & Features Revealed

OnePlus Ace 3 Pro Price and India Launch Status: What We Know

OnePlus Ace 3 Pro Price and India Launch Status: What We Know

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Updated on: 21-Jun-2024
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3,948 views

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3,948 views

The OnePlus Ace 3 Pro is expected to arrive in China at a starting price of roughly Rs 34,000, with a potential Collector's Edition. It might bridge the pricing gap between the OnePlus 12R and the OnePlus 12, featuring premium features such as a Snapdragon 8 Gen 3 processor and a 6,100mAh battery w...

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