Sensex nosedives 949 points; Nifty tanks below 16,950

All Sensex components ended in the red. IndusInd Bank was the top loser, shedding nearly 4 per cent, followed by Bajaj Finserv, Bharti Airtel, TCS, HCL Tech and Tech Mahindra.

Mumbai: Equity benchmark Sensex plummeted 949 points on Monday as concerns over the spread of the Omicron variant in the country triggered a sell-off across sectors.

According to market experts, Indian shares fell as the country recorded more cases of the Omicron variant of the coronavirus over the weekend.

The 30-share BSE Sensex ended 949.32 points or 1.65 per cent lower at 56,747.14. Similarly, the NSE Nifty slumped 284.45 points or 1.65 per cent to 16,912.25.

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“Indices started the day weak and selling intensified during afternoon trade with almost all sectoral indices ending in the red,” said S Ranganathan, Head of Research at LKP Securities.

As the Street awaits the RBI stance on interest rates, the Nifty sold off below 17,000-level as bears held upper hand on a day which saw no recovery, he said, adding that FII selling continued with no respite despite accumulation seen on Monday in high-quality financials by domestic investors.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo ended with losses, while Seoul was positive.

Equities in Europe were trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude rose 2.23 per cent to USD 71.44 per barrel.

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