The Sensex nosedived 1,688 points while the Nifty slumped below the 17,100-level on Friday as a new and potentially vaccine-resistant coronavirus variant sent shockwaves through global markets.
The variant, detected in South Africa, Botswana and Hong Kong so far, has an unusual combination of mutations, as per initial reports.
Countries like Britain and Japan have already imposed travel restrictions, raising the spectre of a fresh wave of lockdowns.
The 30-share BSE Sensex plummeted 1,687.94 points or 2.87 per cent to close at 57,107.15 following an across-the-board selloff. Similarly, the NSE Nifty plunged 509.80 points or 2.91 per cent to 17,026.45. Currency markets too were not spared, with the rupee sinking 37 paise versus the US dollar, in tandem with other emerging market currencies.
