Covid variant Omicron fear affects Sensex

BSE Sensex today tumbled by 585.22 points or 1.02 per cent to 56,521.93 points with 25 of its components trading in the red. The broader Nifty 50 of the National Stock Exchange tanked 191.40 points or 1.12 pc to 16,835.05. Key stock indices Sensex and Nifty declined by more than 1 per cent in the early trade on Monday morning trade due to deep losses in financials, IT and auto stocks amid lingering worries over the emergence of the new COVID variant Omicron, according reports.

Asian markets were also down as investors continued to assess the risks to the economic recovery posed by the new COVID variant Omicron. Japan's Nikkei 225 dropped 0.47 per cent, Hong Kong's Hang Seng Index declined by 0.34 per cent and China's Shanghai Composite was down 0.42 per cent, the report says.