Omicron Fear: Sensex crashes over 1800 points, Nifty below 16,450

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Omicron Fear: Sensex crashes over 1800 points, Nifty below 16,450 (Image: Pixabay)
Omicron Fear: Sensex crashes over 1800 points, Nifty below 16,450 (Image: Pixabay)

New Delhi : The Indian equity benchmarks on Monday crashed with the 30-share Sensex falling over 1,800 points or 3.2 per cent and Nifty 50 index breaking below its important psychological level of 16,450 as spread of Omicron variant of Coronavirus rattled investors' sentiment.

At around 1:00 PM, the Sensex was down with over 1700 points or approx. 3.2 per cent and Nifty 50 index dived 543 points or 3.2 per cent to 16,442.

Asian markets registered a downward trend after Europe enhanced its restrictions amid rising number of Omicron cases.

Beijing lightened the mood a little by cutting one-year loan rates for the frost time in 20 months, though some had hoped for an easing in five-year rates as well.

Chinese blue chips still dipped 0.4 per cent, while MSCI's index of Asia-Pacific shares outside Japan fell 0.8 per cent. Japan's Nikkei dropped 1.7 per cent and South Korean stocks 1.2 per cent.

While many places in Europe have been shut, the United States of America has remained opened despite increasing number of coronavirus cases, including Omicron variant.