Indian shares fall as financials weigh, COVID-19 cases rise
- India's two main stock exchanges last week posted their first weekly decline in three on a fresh surge in domestic COVID-19 cases and rising US bond yields.
BENGALURU: Indian shares edged lower on Monday, weighed down by financial stocks amid rising coronavirus cases in the country, while Asian peers were mixed as a plunge in Turkish lira made investors cautious.
The blue-chip NSE Nifty 50 index fell 0.5% to 14,673 and the benchmark S&P BSE Sensex dropped 0.6% to 49,584.59 as of 0350 GMT.
India's two main stock exchanges last week posted their first weekly decline in three on a fresh surge in domestic COVID-19 cases and rising US bond yields.
Daily coronavirus cases in the country hit four-month high on Sunday and some regions have reimposed containment measures, including lockdowns and restaurant closures, while more steps are being considered.
Asian markets turned mixed and bonds bounced on Monday as a plunge in the Turkish lira sparked talk that capital controls might be needed to stem the rout.
Comments
Comments are closed.