Indian shares slip on Omicron variant worries

India's tally of reported cases of the heavily mutated Omicron variant rose to 12 on Sunday

  
A stock broker looks at a terminal while trading at a stock brokerage firm in Mumbai October 27, 2008.

A stock broker looks at a terminal while trading at a stock brokerage firm in Mumbai October 27, 2008.

Reuters/Arko Datta

BENGALURU:  Indian shares inched lower on Monday after snapping two straight weekly falls, as more cases of the Omicron coronavirus variant were reported over the weekend.

By 0350 GMT, the blue-chip NSE Nifty 50 index was down 0.27% at 17,150.05, while the benchmark S&P BSE Sensex dipped 0.12% to 57,627.59. The Nifty Realty index was up about 1.30% in early trade.

India's tally of reported cases of the heavily mutated Omicron variant rose to 12 on Sunday after the state of Maharashtra said it had detected seven new cases. 

Shares of Eris Lifesciences jumped nearly 10% in early trade as the company marked its entry into the insulin segment with a joint venture with MJ Biopharm.

Broader Asian share markets were also off to a cautious start as Omicron emerged in more countries and investors faced a week-long wait for key U.S. inflation figures that could settle the course of interest rates. 

(Reporting by Shivani Singh in Bengaluru; Editing by Subhranshu Sahu) ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))


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