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Sensex, Nifty End Notably Lower

Indian shares ended lower on Monday as mounting coronavirus cases both at home and abroad kept investors on edge.

Developments in Ladakh on the disputed border between India and China as well as increasing trade tensions between the U.S. and China also weighed on markets.

The number of coronavirus cases around the world crossed 1 crore while the death toll topped 5 lakh. In India, the number of coronavirus infections rose to 5.48 lakh, while the death toll stood at 16,475, according to the Health Ministry.

Closer home, 19,459 new infections were reported in the last 24 hours. This is the sixth consecutive day that more than 15,000 fresh cases have been recorded in a period of 24 hours.

The benchmark S&P BSE Sensex dropped 209.75 points, or 0.60 percent, to 34,961.52, while the broader NSE Nifty index fell by 70.60 points, or 0.68 percent, to 10,312.40.

Coal India shares fell nearly 5 percent after the company reported a 23 percent decline in consolidated net profit for the March quarter.

SBI, Hindalco, Tech Mahindra and Axis Bank lost 3-5 percent, while ITC, Kotak Mahindra Bank, Cipla, HDFC Bank and Britannia Industries rose 1-2 percent.

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