Benchmark indices plunged on Monday amid a relentless surge in coronavirus cases and as worst-hit of Maharashtra mulls a lockdown, threatening to derail recovery.
Sensex plummeted 1,108.73 points to 48,482.59 in the opening session while Nifty tanked 337.45 points to 14,497.40.
The NSE Nifty 50 index was down 2.25% at 14,506.25 by 0350 GMT, while the S&P BSE Sensex was 2.19% lower at 48,500.79.
Stocks across most industries declined, with financial shares being hit the hardest. HDFC Bank and HDFC were the two biggest drags on the Nifty 50, falling nearly 3% each.
Maharashtra is considering a lockdown and could take a final decision this week, a senior government official said.
India's corporate earnings season kicks off from Monday, with software services firm Tata Consultancy Services expected to report March-quarter results.
Data on the country's retail inflation for March is also expected later in the day.
Published 12 April 2021, 03:56 IST