Sensex sheds 621pts amid Omicron woes, weak global cues; Nifty below 17,750

Market participants are already concerned about the rapid global spread of the highly infectious Omicron Covid variant

Closing Bell

Global markets, including India, turned lower on Thursday as persistent inflationary pressure and fears of a faster-than-expected rise in US interest rates weighed on riskier assets.

Shares in Asia-Pacific fell sharply on Thursday, following in the footsteps of the US overnight where the tech-heavy Nasdaq dropped more than 3 per cent to notch its biggest one-day loss since February, 2021.

In Japan, the Nikkei 225 dipped roughly 2.9 per cent, South Korea's Kospi slipped 1.2 per cent, and Australia's S&P/ASX200 declined 2.7 per cent. In Europe, the pan-European Stoxx 600 dropped around 1.2 per cent.

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