Mumbai: Indian markets on Monday opened nearly 2.4% amid likely a complete lockdown in Maharashtra and more states imposing localised curbs as covid-19 cases continued to surge.
At 9.40 am, the benchmark Sensex fell 2.42% or 1300 points to 48,290 points while Nifty dropped 2.7% or 396 points to 14,438 points. The Maharashtra government will meet on Wednesday to give its nod for imposition of lockdown. The state government will decide whether it will be imposed for eight, 15 or 21 days.
On Sunday, Maharashtra reported over 63,000 new infections, with India reporting more than 1.72 lakh covid cases, as total active cases topped over 1.1 million. Investors will also watch macro-economic data and earnings for the March quarter. The consumer price inflation and index of industrial production data are due later today.