The stock market crashed amid Omicron’s deepening crisis, Sensex broke more than 700 points

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Mumbai. Amidst the deepening crisis of Omicron around the world and warnings from WHO, there was a strong fall in the stock market. Shares of Reliance Industries, HDFC, HDFC Bank and Kotak Bank tumbled over 300 points in early trade on Friday with shares of Reliance Industries, HDFC, HDFC Bank and Kotak Bank making losses amid a negative trend in global markets, continued outflow of foreign funds. Later, the fall of the Sensex deepened and the market broke more than 700 points.

Titan was the biggest loser in the Sensex, falling over three per cent. It was followed by M&M, HUL, Maruti, Asian Paints and IndusInd Bank. On the other hand, Infosys, TCS, HCL Tech and Tech Mahindra were among the gainers. In the previous session, the Sensex was up 113.11 points or 0.20 per cent at 57,901.14 and the Nifty was up 27 points or 0.16 per cent at 17,248.40.

According to stock market data, foreign institutional investors (FIIs) remained net sellers in the capital market and sold shares worth Rs 1,468.71 crore on Thursday. Among other major Asian stock markets, Shanghai, Hong Kong, Tokyo and Seoul were trading with losses in mid-session deals. Meanwhile, international oil benchmark Brent crude fell 0.79 per cent to $74.43 per barrel.

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