BENGALURU: Indian shares fell sharply on Monday as Delhi imposed a lockdown to stem surging coronavirus cases, reinforcing fears of further economic pain from restrictions induced by the virus.

The NSE Nifty 50 index was down 1.77% at 14,359.45 and the S&P BSE Sensex fell 1.81% to 47,949.42.

Delhi’s government on Monday ordered a six-day lockdown as its healthcare system crumbled under the weight of new infections. The financial hub of Mumbai is already under a lockdown since April 15.

The country reported its tenth record daily increase in COVID-19 cases in 11 days as total infections pass the 15-million mark.

State-owned banks dropped for the third straight session and led the decline among peers.

Private banks also suffered as they dropped 2.6%, with top private-sector lender HDFC Bank losing 1.1%.

Energy stocks fell 2.7% as oil prices dropped on fears of further restrictions.

Auto stocks dropped over 2.8%, with Maruti Suzuki India Ltd falling more than 2%. Bucking the wider trend, pharmaceutical stocks rose 0.2% amid rising demand for drugs, medical supplies and hospital beds.