Gulf Today Report
Indian shares declined on Thursday following losses in finance and tech companies due to spike in coronavirus cases that might lead to fresh lockdowns.
The blue-chip NSE Nifty 50 index and the benchmark S&P BSE Sensex fell 1% to 14,405 and 48,675.66, respectively, as of 05:07 GMT. The indexes had dropped nearly 2% in the previous session.
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India recorded its highest coronavirus cases in five-month on Thursday.
"The market is definitely worried about the impact of the spread of COVID-19. There would be an economic impact and there are fears over a partial lockdown," KK Mittal, an investment adviser at Venus India.
India's Nifty bank index fell by 1.3% and the public sector bank index dropped 2.4%. The Nifty information technology index fell by 1.3%.