Sensex Crashes Over 900 Points, Nifty Ends Below 17,000 On Omicron Fears

Indian fairness benchmarks crashed on Monday as investor sentiment was dented by rising instances of the Omicron variant over the weekend. The Sensex dropped over 1,000 factors and Nifty 50 index briefly tumbled under its essential psychological degree of 16,900. India has to date reported 21 instances of Omicron variant – 9 from Rajasthan, eight from Maharashtra, two from Karnataka (together with a South African man who “fled” to Dubai), and one every in Gujarat and Delhi.

The Sensex fell 949 factors or 1.65 per cent to shut at 56,747 and Nifty 50 index declined 284 factors or 1.65 per cent to shut at 16,912.

“If the market is unable to maintain the market ranges of 16,800, we’ll witness correction to proceed available in the market until the extent of 16,400. Technical indicators recommend a unstable motion available in the market advise the merchants to chorus from constructing contemporary shopping for positions,” stated Vijay Dhanotiya, senior analysis analyst at CapitalVia International Analysis.