Sensex, Nifty Plunge As Virus Fears Mount

(RTTNews) - Indian shares fell sharply on Monday, mirroring losses in other global markets as new coronavirus infections in China, Japan and the United States raised concerns of a resurgence of the virus and added to uncertainty about growth outlook. Weak industrial output and retail sales data from China also dented sentiment.

Closer home, India recorded a jump of over 11,000 novel Covid-19 cases for the third consecutive day on Monday, pushing the total number of cases to 3,32,424, according to data from the Union Health Ministry till Monday morning. The death count rose to 9,520 with 325 fatalities in the last 24 hours.

Maharashtra remains the worst-affected state in the country, followed by Tamil Nadu and Delhi. Globally, India is the fourth-worst hit country in the world with only the US, Brazil and Russia ahead in the total number of cases.

The benchmark S&P BSE Sensex ended the session down 552.09 points, or 1.63 percent, at 33,228.80, while the broader NSE Nifty index dropped 159.20 points, or 1.60 percent, to 9,813.70.

ICICI Bank, Bajaj Finance, Tata Motors, Axis Bank and IndusInd Bank slumped 4-7 percent in the Nifty pack, while GAIL climbed 3.7 percent, Wipro added 2.6 percent and HCL Technologies rose 1.5 percent.
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