Sensex sheds 1,190pts, Nifty ends near 16,600; financials, Tata Steel tank

The NSE index has now declined nearly 11 per cent from its all-time in the last two months; Midcap and Smallcap indices were down over 3 per cent each

Closing Bell

The key benchmark indices extended Friday's losses as the market sentiment was dented amid fears of a severe-than-expected economic impact owing to the Omicron variant, recently announced hawkish policy stances by global central bankers and persistent FIIs selling.

The BSE benchmark, the Sensex, nose-dived to a low of 55,133 on the back of across-the-board sell-off led by heavy losses in financial shares. The BSE index which had tanked 1,879 points at the low's of the day, eventually recouped some of the losses but still ended 1,190 points lower at 55,822. In the process, the BSE Sensex