Omicron leads to a market meltdown: Sensex sinks, Nifty down 10% from record

Omicron concerns escalated Monday blues for the markets that are facing a full-blown meltdown. The Sensex crashed over 1000 points and the Nifty traded below 16,700 mark as increased infections in UK and UAE spooked equities globally.

All the sectoral indices are trading in the red with auto, bank, metal, realty, oil & gas, power indices down 2-3 percent. BSE midcap and smallcap indices down 2 percent each.

New listing Shriram Properties listed at Rs 94/share vs base price of Rs 120/share. There is a listing a day this week and a new IPO of CMS Infosystems that opens tomorrow.

Here are the top Omicron updates that are raising the alerts on Dalal Street-:

• Infections in the U.K. jumped more than 50% in a week
• Netherlands returns to a strict lockdown, non-essentials and schools shut
• Germany Health Minister: The country is already headed for a fifth wave
• UAE: Reported the highest number of daily infections since late September,
• Delhi records 107 new Covid cases, the highest daily rise since June 27