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At 9.20 am, the BSE Sensex was trading at 52,932.22, down 1,401.59 points or 2.58 per cent. Nifty50 was quoting at 15,851.30, down 394.05 points or 2.43 per cent.

Pritam Patnaik, Head - Commodities, Axis Securities said, "With the intensity of war between Russia and Ukraine ratcheting a few notches higher over the weekend, and with no diplomatic solution in sight, the safe-haven premium has significantly increased, pushing gold over the $2,000 level in the international markets."

Bharat Coking Coal (BCCL), a Dhanbad-based subsidiary of the Maharatna public sector undertaking, also claimed that it registered the highest off-take growth of around 66 per cent to 2.93 MT during the last month, PTI reported.

“We are increasingly thinking that the chance of the sanctions against Russia becoming broader is higher than 50%. We think that oil could be included in sanctions and that is going to add to the pressure on the consumer. We are dealing with high inflation and at some point, it will start to hurt growth.”

The Nifty IT index was trading 1.49 per cent down at 33667.35.

In a regulatory filing on Friday, PNB Housing Finance said that a meeting of the Board of Directors of PNB Housing Finance Limited is scheduled to be held on March 9 to consider fund raising options by issue of equity shares through appropriate methods (including rights issue), subject to requisite approvals.

Exchange rates were updating normally, NSE said.

A total of 776,060 shares changed hands on the counter till 10:30AM (IST).

In many pockets of the market, the bull phase ended 6 months ago. In the bull market that started after the crash in March 2020, many stocks went up several times. It is absolutely normal for them to see a correction of 20-25 per cent after scaling such record highs.

Whirlpool of India Ltd., incorporated in the year 1960, is a Large Cap company (having a market cap of Rs 20215.76 Crore) operating in Consumer Durables sector.