Nifty, Sensex fall as rising virus cases add to global worries
Mon Jun 15 2020
Rajesh Sharma (2003 articles)

Nifty, Sensex fall as rising virus cases add to global worries

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, February 1, 2020. REUTERS/Francis Mascarenhas/Files

Indian shares fell on Monday as a rise in domestic coronavirus cases and worries over a second wave of infections in China sapped investors’ appetite for riskier assets.

As of Sunday, COVID-19 cases in India had surged well past 320,900 and deaths neared 9,200. India is the fourth-worst affected country in the world.

Beijing also recorded dozens of new cases in recent days, all linked to a major wholesale food market, raising concerns about a resurgence of the disease.

The NSE Nifty 50 index .NSEI fell 0.83% to 9,887.55 by 0346 GMT, while the benchmark S&P BSE Sensex .BSESN was down 0.86% at 33,484.17.

India’s government said on Sunday it would provide New Delhi’s city authorities with 500 railway coaches that will be equipped to care for coronavirus patients, after a surge in the number of cases led to a shortage of hospital beds.

Meanwhile, Asian shares stumbled on Monday and oil prices slipped on fears of the second wave.

Rajesh Sharma

Rajesh Sharma

Rajesh Sharma is Correspondent for Stock Market of South East Asia based in Mumbai. He has been covering Asian markets for more than 5 years.

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