Sensex, Nifty rebound after falling amid volatile trade

Benchmark market indices rebounded after falling sharply in early trade due to increased volatility as investors remain concerned about the new Omicron variant of the coronavirus.

Indian shares extended their slide on Monday, after seeing their biggest fall in seven months in the previous session, as autos, metal, and energy stocks led losses amid concerns around the Omicron variant of the coronavirus.

The blue-chip NSE Nifty 50 index was down 1.2% at 16,826.10 by 9:21 am, while the benchmark S&P BSE Sensex slid 1% to 56,525.39. The Nifty Auto Index dropped 2.47%, with Ashok Leyland and Tube Investments of India being among the worst hit in early trading. Other drags included the metal and energy indexes , down about 1.5% each.