Sensex, Nifty Fall As Omicron Spread Dents Risk Appetite
NDTV
Reliance Industries, HDFC, Kotak Mahindra Bank, Bajaj Finance, ITC and Bharti Airtel were among the top drags on the Sensex.
The Indian equity benchmarks fell on Tuesday while the rupee hit an 18-month low, as the spread of the Omicron coronavirus variant weighed on investor sentiment globally ahead of a series of central bank meetings this week, including by the U.S. Federal Reserve. Reliance Industries, HDFC, Kotak Mahindra Bank, Bajaj Finance, ITC and Bharti Airtel were among the top drags on the Sensex.
The blue-chip NSE Nifty 50 index sagged 0.26 per cent to 17,322 by 1:00 pm and the benchmark S&P BSE Sensex fell 0.2 per cent to 58,168, both down for a third straight session.
Fears grew about the Omicron variant after British Prime Minister Boris Johnson warned of a "tidal wave" of new cases, and the World Health Organization said it poses a "very high" global risk, with some evidence that it evades vaccine protection.
"The biggest concern that the markets have right now is the spread of the Omicron variant. A lot of information is still unknown," said Saurabh Jain, assistant vice president at SMC Securities in New Delhi.
