Indian shares were deep in the red on Monday and the rupee opened lower by
33 paise at 75.18 against the dollar as coronavirus lockdown tightened across the world, fueling fears of a long recession.
Globally, there are over 7.2 lakh confirmed cases and 33,976 deaths from the coronavirus outbreak. Of these, over 1.85 lakh have recovered.
The number of infected cases in India has increased to 1,024, with the death toll rising to 27.
The benchmark S&P BSE Sensex fell 900 points, or 3 percent, to 28,916 in early trade, while the broader NSE Nifty index was down 245 points, or 2.83 percent, at 8,414.
Bajaj FinServ, UPL, Eicher Motors, Mahindra & Mahindra and Bajaj Finance dropped 5-9 percent.
SBI tumbled 3.3 percent after raising $100 million via green bonds.
InterGlobe Aviation and SpiceJet plunged around 5 percent. Indian air carriers are in grave and immediate danger of insolvency in the wake of the pandemic outbreak that is disrupting the industry across the globe, the International Travel Association warned.
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