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Sensex, Nifty Seen Lower Amid Virus Fears

Indian shares look set to open lower on Monday as investors fret about rising coronavirus cases both at home and abroad.

India is the fourth worst-hit country in the world by the pandemic after the United States, Brazil and Russia.

The count has crossed the 5.49-lakh mark after the highest-ever single-day spike of over 19,000 Covid-19 cases were reported over the past 24 hours.

The overall number of global Covid-19 cases crossed the 10 million mark, while the fatalities have surpassed 500,000, according to the Johns Hopkins University.

The U.S. accounted for the world's highest number of infections and fatalities with 2,510,323 and 125,539, respectively.

U.S. Health and Human Services Secretary Alex Azar warned Sunday that the "window is closing" for the United States to get the coronavirus pandemic under control.

Asian markets drifted lower this morning as investors react to mixed regional data. While profits at China's industrial firms rose for the first time in six months in May, retail sales in Japan tumbled at a double-digit pace in the month, separate reports showed.

A firm dollar kept riskier currencies under pressure, while gold futures edged closer toward $1,800 an ounce -- a level last seen at the end of 2011. Oil prices fell for a second straight session on concerns over energy demand outlook.

U.S. stocks tumbled on Friday as several U.S. states imposed business restrictions after a resurgence in new infections and the Wall Street Journal reported that the Phase 1 U.S.-China trade deal could be at risk.

Banks paced the declines as the Federal Reserve moved to cap bank dividend payments and halt stock buybacks.

The Dow Jones Industrial Average plunged 2.8 percent to register its steepest fall in two weeks, while the tech-heavy Nasdaq Composite index slumped 2.6 percent and the S&P 500 lost 2.4 percent.

European stocks ended Friday's session mostly lower amid rising worries about sharp spikes in new coronavirus cases in the U.S.

The pan European Stoxx 600 eased 0.4 percent. The German DAX shed 0.7 percent and France's CAC 40 index slid 0.2 percent while the U.K.'s FTSE 100 edged up 0.2 percent.

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