Sensex, Nifty fall as virus cases surge; banks slip

Reuters
New Delhi, India Published: Aug 03, 2020, 10:53 AM(IST)

Sensex Photograph:( Others )

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The Nifty, which clocked a 7.5 per cent gain last month, fell 0.64 per cent to 11,002.65 by 0355 GMT, while the Sensex was 0.73 per cent lower at 37,335.25

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 per cent gain last month, fell 0.64 per cent to 11,002.65 by 0355 GMT, while the Sensex was 0.73 per cent lower at 37,335.25.

The Nifty banking index fell 1.31 per cent. The nation`s top private sector lender, HDFC Bank Ltd, was the biggest drag on the Nifty 50, with a 1.6 per cent decline.

Also read: Sensex slips 129 points, Nifty ends at 11,073

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.

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