Sensex settles 503 points lower amid Omicron, Nifty close at 17,368.25

Despite buoyant global markets, Indian equities indices closed the day lower on Monday, as investor fears about Omicron and rising inflation dampened bullish enthusiasm.

Despite a good start, the BSE Sensex fell 503.25 points, or 0.86 percent, to 58,283.42 on Monday. Similarly, the Nifty 50 index of the National Stock Exchange fell 143.05 points, or 0.82 percent, to 17,368.25.

PSU banks, FMCG, and oil and gas companies lead the market's losses. Bajaj Finance was the worst performer among Nifty equities, down 3.14 percent, followed by Bajaj Finserv and Tata Consumer Products, which both plummeted 2.19 percent and 1.68 percent. Other notable falls in the index were Reliance Industries, HDFC Life, Nestle, IOC, SBI, JSW Steel, HDFC, Hero MotoCorp, Kotak Mahindra Bank, and Tata Steel.

The top gainer in the Nifty was Axis Bank, which gained 2.32 percent, followed by Tech Mahindra and Wipro, which gained 2.19 percent and 1.43 percent, respectively. Other Nifty gainers included SBI Life Insurance, Power Grid Corporation, Hindalco, Divis Labs, Titan Company, UPL, Tata Motors, Sun Pharma, and Shree Cements.

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