Domestic headline indices plunged as much as one percent in early deals after a negative opening on Monday as a global surge in Omicron variant cases weighed on investor sentiment, with RBL Bank shedding 10 percent after its top executive stepped down and the central bank appointed an executive to its board.

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The 30-scrip index fell as much as 581.2 points to 56,543.1 and the broader Nifty50 benchmark slid to as low as 16,833.2, down 170.6 points from its previous close.

IndusInd Bank was the top loser in the Sensex pack, shedding over 4 percent, followed by Bajaj Finance, Asian Paints, Bajaj Finserv, Maruti and Tata Steel. On the other hand, PowerGrid, M&M, Dr Reddy's and HDFC were among the gainers.

Meanwhile, HP Adhesives shares will be listed on stock exchanges BSE and NSE at 10 am. Mumbai-based HP Adhesives, a maker of adhesives and sealants, commanded a premium in the grey market -- an unofficial market for unlisted securities -- prior to the listing on Dalal Street.

RBL Bank said on Sunday its business fundamentals were intact with scope for tremendous improvement, a day after its chief executive and managing director, Vishawvir Ahuja, went on leave and the Reserve Bank of India appointed an executive to its board.

US airlines have cancelled or delayed thousands of flights over the past three days due to COVID-19-related staff shortages, while several cruise ships had to cancel stops after outbreaks on-board.

So far, 422 Omicron cases have been detected across 17 states and union territories in India and 130 of these people have recovered or migrated, according to Union Health Ministry data updated on Sunday. Elsewhere in Asia, bourses in Shanghai and Hong Kong were trading with gains in mid-session deals, while Seoul and Tokyo were in the red.

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(Edited by : Anshul)

First Published:Dec 27, 2021 9:50 AM IST