India shares fall as Ukraine crisis intensifies; GDP data in focus
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BENGALURU - India shares fell more than 1% on Monday, with investors joining a global flight from riskier assets on worries that fresh sanctions on Russia could impact oil shipments, while the market focus was also on economic growth data due later in the day.
The blue-chip NSE Nifty 50 index was 1.11% down at 16,473.50, as of 0349 GMT, and the S&P BSE Sensex dropped 1.16% to 55,209.58. Both the indexes posted their third straight weekly losses on Friday.
India's GDP data is set to be released at 1200 GMT. The country's economy likely grew 6% year-on-year during the three months ended December 2021, slower than the previous two quarters, with fears growing over slowing momentum after Russia's invasion of Ukraine, a Reuters survey of economists showed last week.
Oil prices jumped on Monday on escalating sanctions on Russia, heightening fears that oil shipments from the world's second-largest producer could be disrupted. [O/R]
In Mumbai, Nifty's financial services sector index and the auto index were among the top decliners, falling more than 1% each.
(Reporting by Rama Venkat in Bengaluru; Editing by Sherry Jacob-Phillips)
