Sensex tumbled over 850 points in the opening session on Friday, tracking a weak trend in global markets amid escalating tensions between Russia and Ukraine.

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The 30-share Sensex slumped 955 points or 1.73% to 54,147.58 in early trade after a weak start. The broader Nifty declined 287.80 points or 1.74% to 16,210.25.

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“Volatility in US equities continue as the Russian invasion of Ukraine entered its second week. Investors remain wary and attempt to gauge how international sanctions could penalise Putin’s regime. The Dow Jones fell 0.3 per cent. The Nasdaq was down more than 1.6 per cent while the S&P 500 lost 0.5 per cent,” according to Mitul Shah, Head of Research at Reliance Securities.

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Asian Paints, Maruti Suzuki India, Axis Bank, Wipro, and Mahindra & Mahindra were the greatest drag on the market in the morning, falling up to 4.51%.

The 30-share BSE index concluded the previous session 366.22 points, or 0.66% down, at 55,102.68. Similarly, the NSE Nifty fell 107.90 points, or 0.65%, to settle at 16,498.05.

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In mid-session trades, bourses in Hong Kong, Shanghai, and Tokyo were trading considerably down. In the overnight session, stock markets in the United States closed in the red.

“The war and surge in crude have completely transformed the economic scenario and market expectations. If the war prolongs global economic growth may be impacted,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

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According to exchange statistics, foreign institutional investors maintained their selling binge in Indian markets on Thursday, offloading shares worth Rs 6,644.65 crore on a net basis.

Meanwhile, Brent crude, the international oil benchmark, rose 1.53% to USD 112.16 a barrel. In early trade, the rupee slips 11 paise to 76.05 against the US dollar.