Will Putin's military operation in Ukraine scuttle India's Aramco moment?

Equity markets bore the brunt of Russian President Vladimir Putin's military action against Ukraine as Sensex and Nifty slipped deeply into red. The worry that could the military escalation could trigger an extended bear market is only getting entrenched.

The government's plan to list LIC in the month of March may come under increased pressure when the investor appetite globally will be ebbing due to the fall out of military operation.

Finance secretary T V Somanathan said that the LIC IPO prospects won't be hit by Russia's latest move to launch military operations in Ukraine.


US Futures dropped and crude oil prices topped $100 a barrel.

Finance minister Nirmala Sitharaman, after addressing the FSDC meet, had said that the government will go ahead with the LIC IPO despite high volatility in markets due to the geopolitical developments.

She added that the DRHP is out and it has created buzz in the market.

Government will sell around 5% of the LIC for Rs 65,000 crore. Any change in plans can impact government's finances.

Surging global crude oil prices will force oil retailers in India to revise local prices upwards that have been frozen for some time now.

The RBI will take note of the changed scenario and could go for an early end for its loose monetary policy.