Sensex, Nifty close over 1.5% lower on concerns over rising virus cases

Indian shares fell more than 1.5% on Monday, dragged lower by bank stocks, as investors were spooked by a spike in domestic coronavirus cases and fears of a second wave of infections in Beijing and parts of the United States. The number of COVID-19 cases in India had surged well past 332,400 by Monday and deaths were over 9,500, making it the world's fourth-worst affected country. The NSE Nifty 50 index ended down 1.6% at 9,813.70, while the benchmark S&P BSE Sensex closed 1.63% lower at 33,228.8.

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