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India's stock benchmarks tumbled on Monday to log the second worst day in eight months, as concerns over omicron variant, rating downgrade by Morgan Stanley and RBI's plan to drain liquidity sapped sentiment. The S&P BSE Sensex shed 2.09% to 55,822.01. The 30-stock gauge fell as much as 3.30% in intraday trade, the steepest decline in eight months. The NSE Nifty 50 index also slipped by similar magnitude to close at 16,614.20. The 50-stock gauge fell 3.39% in intraday trade to slip before 16,500.

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