Omicron, US Fed's hawkish tone drags indices down by more than 1%

Experts said the mood turned sombre after first Omicron cases were reported on Thursday from Karnataka

Fresh concerns around the spread of Omicron and Fed's hawkish tone pulled the markets down on Friday.

The benchmark Sensex ended the session at 57,696, a decline of 765 points or 1.3 per cent. The Nifty on the other hand, ended the session at 17,196, a fall of 205 points or 1.2 per cent.

The indices, however, managed to finish the week a one per cent gain—their first in three weeks.

The indices had gained through the week on the back of a bunch of positive economic data. However, Friday’s selloff indicates that the market was still not out of