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The Nifty Pharma index closed 2.38 per cent up at 12844.85.

“The Russia-Ukraine war is very different from the GFC or Covid. If there is any news flow which tells us that there is some compromise or some kind of backing off from either side, then suddenly oil and commodity prices can drop and equity markets can turn and flows which are globally risk off can become positive. For an existing investor who is fully invested in the market, there does not seem to be too many viable options other than to do nothing. ”.

​​Largecap-smallcap, active-passive and diversified-concentrated, among others, are the aspects open to new ideas that weigh several options. Today, we will discuss these factors in the context of thematic allocation.

Crypto is coming to the rescue of both the Ukrainian and Russian governments. Both the countries need a system where no government is invlved and is relatively anonymous, crypto is saving the day.

“It is not going to be a very broad rally. One has to drill down and there are not going to be a whole lot of sectors at the moment because between the inflation which will impact consumer demand in India and margin compression in quite a few industries, one has to be careful.”

On the regulation of the private cryptos and other virtual digital assets (VDAs), Sitharaman said that consultations are on and invited the industry players to contribute to it.

The blue-chip CSI300 index ended 2.0% lower at 4,265.39, the lowest since July 1, 2020. The Shanghai Composite Index lost 2.4% to 3,293.53, the lowest since Nov 4, 2020.

"The LME has taken this decision on orderly market grounds," the exchange said in a statement, adding that "trading will be disabled in LMEselect, and nickel trading will not be permitted on the Ring."

Sun Pharma and TCS were the top gainers as market recovered in the last hour of trade, rising over 3.5% each.

Russia supplies the world with about 10% of its nickel needs, mainly for use in stainless steel and electric vehicle batteries.