Sensex down over 1,300 points as Covid-19 cases continue to surge sharply

The NSE Nifty 50 index was down 2.25% at 14,506.25 by 9:20 am, while the S&P BSE Sensex was 2.19% lower at 48,500.79.

Indian shares plunged on Monday amid a relentless surge in coronavirus cases and as the hardest-hit state of Maharashtra considers a lockdown, threatening to derail a recovery in Asia's third-largest economy. The NSE Nifty 50 index was down 2.25% at 14,506.25 by 9:20 am, while the S&P BSE Sensex was 2.19% lower at 48,500.79. Stocks across most industries declined, with financial shares being hit the hardest. HDFC Bank and HDFC were the two biggest drags on the Nifty 50, falling nearly 3% each.