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Sensex Down Over 2500 Points; Nifty Dips Below 8050

Indian shares plunged on Monday as COVID-19 cases in India swelled up to 400 and Prime Minister Narendra Modi said the 14-hour-long 'Janta Curfew' on Sunday was just the beginning of a long battle against coronavirus outbreak.

The Centre and state governments have decided to announce lockdown in 80 districts across the country where positive cases of coronavirus have been found.

Globally, the global death toll exceeded over 14,000 with more than 325,000 infections.

The benchmark S&P BSE Sensex fell by 2502 points, or 8.36 percent, to 27,414 in early trade, while the broader NSE Nifty index was down 696 points, or 7.96 percent, at 8,049.

Maruti Suzuki India slumped over 10 percent after announcing plant closure due to the coronavirus outbreak. Bajaj Auto, Hero MotoCorp, Mahindra & Mahindra and Tata Motors plunged 8-10 percent.

Shree Cement, Adani Ports, Titan, UltraTech Cement, ICICI Bank, Axis Bank, Bajaj Finance and IndusInd Bank plummeted 10-14 percent.

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