Sensex, Nifty fall as virus cases surge; banks slip
The Nifty, which clocked a 7.5% gain last month, fell 0.64% to 11,002.65 by 0355 GMT, while the Sensex was 0.73% lower at 37,335.25.Updated: Aug 03, 2020 10:53 IST
Indian shares fell on Monday, led by a decline in banking stocks, as the number of domestic coronavirus cases leapt by a record over the weekend and high-profile politicians tested positive.
The Nifty, which clocked a 7.5% gain last month, fell 0.64% to 11,002.65 by 0355 GMT, while the Sensex was 0.73% lower at 37,335.25.
The Nifty banking index fell 1.31%. The nation’s top private sector lender, HDFC Bank Ltd, was the biggest drag on the Nifty 50, with a 1.6% decline.
India’s tally of Covid-19 cases crossed 1.75 million on Sunday, after logging a record surge a day earlier, with the death toll at 37,364. The country has the world’s third highest caseload after the United States and Brazil.
Home Minister Amit Shah, a close aide to Prime Minister Narendra Modi, tested positive for Covid-19 on Sunday, becoming the senior-most politician in the country to catch the virus.
The chief minister of Karnataka, home to the tech hub of Bengaluru, also said he tested positive for Covid-19.
Other Asian share markets were mixed on Monday as U.S. lawmakers struggled to hammer out a new stimulus plan.