The S&P BSE Sensex and NSE Nifty-50 indexes plunged more than 3 per cent post noon on renewed fears over mutated coronavirus. The new variant is believed to be 70 percent more infectious than the previous.
The United Kingdom, where the variant is currently circulating, ordered lockdown on London and much of its south east and a host of European countries imposed travel restrictions to UK. Taking cue, Saudi followed by Oman and Kuwait too has banned entry flights into the country.
At 2.58, the Senses fell 1545.11 points and Nifty shed 495.20 points erasing its 11-day earning streak. The broad-based selling pressured bank sector the most with ICICI, HDFC, SBI and Axis Bank becoming the top drags.
