Domestic markets lurched lower on Friday after India reported its first case of the Omicron variant of the coronavirus, prompting investors to dial back risk exposure.
The Centre on Thursday said two cases of Omicron have been detected in Karnataka. Both the patients are men, aged 66 and 46 years, with mild symptoms. Severe symptoms have not been noted, an official said.
The Government has asked people not to panic and follow Covid-appropriate behaviour. It also said while there is no evidence to suggest that existing vaccines do not work against Omicron, some of the mutations reported may decrease the efficacy of the jabs.
Snapping its two-session rally, the 30-share BSE Sensex nosedived 764.83 points or 1.31 per cent to end at 57,696.46.
Similarly, the broader NSE Nifty tanked 204.95 points or 1.18 per cent to 17,196.70.