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Indian shares fell on Monday as a global surge in Omicron variant cases weighed on investor sentiment, with RBL Bank shedding 10% after its top executive stepped down and the central bank appointed an executive to its board.

The NSE Nifty 50 index was down 0.75% at 16,876 by 9:16 am and the benchmark S&P BSE Sensex fell 0.79% to 56,673.51.

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.

U.S. 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.

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