Omicron scare: Sensex nosedives 1,190 pts on global selloff

Equity benchmark Sensex plunged 1,190 points on Monday as concerns over the impact of surging Omicron cases across the world spooked investors, triggering an intense selloff in global equities.

The 30-share index slumped 1,189.73 points or 2.90 per cent to end at 55,822.01. Similarly, the NSE Nifty tanked 371 points or 2.18 per cent to 16,614.20.

Tata Steel was the top loser in the Sensex pack, sinking over 5 per cent, followed by SBI, IndusInd Bank, Bajaj Finance, HDFC Bank and NTPC On the other hand, HUL and Dr Reddy’s were the gainers.

According to experts, exploding COVID-19 cases, sustained selling by foreign institutional investors and slowing growth momentum in the developed economies have spooked markets the world over.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with heavy losses. Stock exchanges in Europe too were trading deep in the red in mid-session deals.

Meanwhile, international oil benchmark Brent crude tumbled 3.51 per cent to USD 70.94 per barrel. 

Image: PTI