Indian shares slip as virus cases surge

Bengaluru - The NSE Nifty 50 index fell 0.64 per cent to 10,316.75 by 0348 GMT, while the benchmark S&P BSE Sensex was down 0.7 per cent at 34,923.68.

Indian shares fell on Monday, led by financial stocks, as a jump in coronavirus cases threatened the reopening of the economy, dimming hopes of a quick recovery.
The NSE Nifty 50 index fell 0.64 per cent to 10,316.75 by 0348 GMT, while the benchmark S&P BSE Sensex was down 0.7 per cent at 34,923.68.
Cases in the world's second most populous country jumped by a record 19,459 to 548,318 as of Monday morning, with the death toll rising to 16,475, according to latest federal health ministry data.
The global death toll reached half a million people on Sunday, according to a Reuters tally.
Indian media reported that Maharashtra, home to India's financial capital Mumbai, was set to extend for a month the lockdown to contain the spread of the virus.
Indian stocks ended higher in volatile trading on Friday, helped by information technology and energy shares, although investors remained nervous about rising coronavirus cases and tensions with China.
The NSE Nifty 50 index ended up 0.91 per cent at 10,383 and the benchmark S&P BSE Sensex gained 0.94 per cent at 35,171.27. Both the indexes rose more than 1 per cent this week and recorded a second straight week of gains.
The Nifty information technology index was the top gainer, rising 4.1 per cent. Infosys Ltd and Tata Consultancy Services Ltd were the top boosts to the blue chip index with a rise of 6.6 per cent and 4.9 per cent, respectively. - Reuters