Sensex plunges 949 pts as Omicron spreads in India

Mumbai, December 6

Equity indices spiralled lower on Monday as the spread of the Omicron variant in the country spooked investors and triggered an across-the-board sell-off. A plunging rupee and continued selling by foreign institutional investors added to the woes, traders said.

Extending its losing streak for the second straight session, the Sensex crashed 949.32 points to close at 56,747.14, an over three-month low. The Nifty slumped 284.45 points to 16,912.25. All Sensex components ended in the red. IndusInd Bank was the biggest laggard, shedding 3.75%, followed by Bajaj Finserv, Bharti Airtel, HCL Tech, TCS, Tech Mahindra and Infosys.

Rupee hits 8-week low of 75.45

• The rupee on Monday plunged by 33 paise to hit its weakest level in eight weeks at 75.45 against the US dollar in line with massive erosion in domestic stocks amid

Investors lose Rs4.29 lakh cr

• Investors lost Rs4.29 lakh crore in Monday’s session, with the market capitalisation of all BSE-listed companies standing at Rs2,56,72,771.67 crore

Equity investors lost Rs 4.29 lakh crore in Monday’s session, with the market capitalisation of all BSE-listed companies standing at Rs 2,56,72,771.67 crore.

India reported 17 more cases of the Omicron variant of the coronavirus on Sunday — nine in Rajasthan capital Jaipur, seven in Maharashtra’s Pune district and a fully vaccinated man who arrived in Delhi from Tanzania — taking the tally to 21 in the country. With this, four states and the national capital have now reported cases of the potentially more contagious variant which has sparked a fresh alert across the world. — PTI