Covid surge unnerves D-Street, Sensex plunges nearly 900 points

The blue-chip NSE Nifty 50 index closed down 1.8% at 14,549.40 and the benchmark S&P BSE Sensex dropped 1.7% to 49,180. Both the exchanges saw their worst one-day percentage fall since February 26.

Indian shares closed lower on Wednesday, dragged down by financial stocks and weakness in global markets, as worries over the economic impact from a continued surge in coronavirus cases dented sentiment. The blue-chip NSE Nifty 50 index closed down 1.8% at 14,549.40 and the benchmark S&P BSE Sensex dropped 1.7% to 49,180. Both the exchanges saw their worst one-day percentage fall since February 26. India has detected a new "double mutant variant" of the novel coronavirus, the health ministry said on Wednesday, adding to concerns as the government struggles with the highest single-day tally of new infections and deaths this year.