Indian shares fell on Friday as a relentless surge in domestic coronavirus cases threatened to disrupt an economic recovery, although gains in pharmaceuticals and heavyweight Reliance Industries helped limit losses.
The NSE Nifty 50 index fell 0.19% to 10,792.5 by 10:24 am, while the benchmark S&P BSE Sensex was down 0.24% at 36,648.11. The indexes were, however, headed for their fourth straight week of gains, after a rally driven by a liquidity flush and hopes for a COVID-19 vaccine.
Cases in the world's second-most populous country jumped by a record 26,506 to 793,802 as of Friday morning, including 21,604 deaths, health ministry data showed.
Asian shares and U.S. stock futures too slipped on Friday as record surges in many U.S. states stoked fears of new lockdowns that could hurt an economic recovery.
03 Aug 2020 02:32 PM
The Indian rupee logged its worst day against the U.S currency in three weeks, weighed down by a rebound in the dollar index and weak local shares.
03 Aug 2020 11:44 AM
Indian shares fell for the fourth straight session on Monday as banking stocks tumbled on mixed expectations for an upcoming interest rate decision, while surging domestic coronavirus cases also dented sentiment.
03 Aug 2020 11:18 AM
The yuan was steady on Monday after booking its best month in nine in July, as investors kept a wary eye over tensions between Beijing and Washington and the fate of popular short-video app TikTok's U.S. operations.
03 Aug 2020 10:44 AM
Gold prices surged to an all-time high on Monday as fears over an economic fallout from rising COVID-19 cases boosted demand for the safe-haven metal, although gains were capped by an uptick in the U.S. dollar.
03 Aug 2020 10:34 AM
The Indian rupee was at 74.91/74.92 to a dollar, against 74.81/74.82 in the previous session
03 Aug 2020 09:47 AM
Oil prices fell on Monday on concerns about oversupply as OPEC and its allies, together known as OPEC+, are due to pull back from production cuts in August while an increase in COVID-19 cases worldwide raised fears of a slower pick-up in fuel demand.