Sensex slumps over 400 points in early trade; Nifty drops below 16,900

IndusInd Bank was the top loser in the Sensex pack followed by Bajaj Finance, Asian Paints, Bajaj Finserv, Maruti and Tata Steel.

Equity benchmark Sensex tanked over 400 points in early trade on Monday, tracking losses in index majors Reliance Industries, Infosys and HDFC Bank as concerns over Omicron-induced restrictions had an adverse impact on investor sentiment.

The 30-share index plunged 444.83 points or 0.78% to 56,679.48 in the opening trade. Similarly, the Nifty tumbled 128.40 points or 0.76% to 16,875.35.

IndusInd Bank was the top loser in the Sensex pack, shedding over 4%, followed by Bajaj Finance, Asian Paints, Bajaj Finserv, Maruti and Tata Steel.