Indian shares fall nearly 2% as IT stocks weigh, Omicron fears loom

Indian stocks fell nearly 2 per cent, led by a sell-off in information technology (IT) stocks, as rising cases of the Omicron coronavirus variant alarmed investors ahead of the central bank's interest rate decision.

Indian shares closed nearly 2 per cent lower on Monday, hurt by a sell-off in information technology (IT) stocks, as increasing cases of the Omicron coronavirus variant spooked investors ahead of the central bank's decision on interest rates.

The blue-chip NSE Nifty 50 index slipped below the 17,000 mark and was down 1.65 per cent at 16,912.25, while the benchmark S&P BSE Sensex was 1.65 per cent lower at 56,742.35 at the closing bell.